Your credit score defines you financially. Establishing and maintaining good credit will make your life infinitely easier. To establish a good credit score you must make your payments on time and in full every month. You can also improve your credit score by minimizing your debt. Learn more here about your credit score and what it means for you.
Refinancing With Poor Credit Score
A homeowner is looking to refinance even though their credit rating is in the 500s. They are looking to refinance into an adjustable rate mortgage to help pay down their large debts. The first step is to make sure the lender offering the refinance is a legitimate lender and that refinancing with them will help raise the credit score.
Refinancing Home With A Bad Credit Score
Can you refinance your home if you have a bad credit score? Ilyce discusses how to make corrections to credit history, and boost your credit score so you can work with lenders and refinance your home. Ilyce also offers tips on how to improve your credit score and refinance your home within six months.
How To Raise Credit Score To Prepare For Mortgage
To qualify for a mortgage you have to have a clean credit history and a good credit score. What can you to do improve your credit when you want to buy a home? Learn tips to raise the credit score and how to plan for the purchase of property.
Deal With Holiday Debt
Carrying a load of debt could cause your credit score to suffer. While some consumers will pay off their December credit card bills in full, more than half will spend months paying off the $1,500 in presents and holiday cheer they charged. If you pay even one bill late, you'll be paying for that mistake over and over again. Other credit card companies will use that one late payment as an excuse to jack up your interest rate even if you've never paid a single bill late for that particular credit card.
Removing Open Credit Accounts On Credit Report
If you are trying to cancel old credit accounts, make sure you have the correct contact information and then send a "return receipt requested" letter to the credit company. However, it's better for your credit score to keep old accounts open, but at a zero balance.
Refinancing With Higher Credit Score
How much can a better credit score save you? If you aim to get your credit score above 720, you'll be able to get much better offers from creditors. The best thing you can do to raise your credit score is to pay every bill on time.
Sellers Want Preapproval Letters From Buyers
Some property owners run into trouble finding qualified buyers to purchase rental properties. To protect yourself when selling property, request a preapproval letter from potential buyers stating that their lender has committed (in writing) to funding the buyer's loan provided the home appraises out in value. Be careful it is not a pre-qualification letter, which is not a good indicator of whether the buyer will ultimately be able to secure financing.
Talk Personal Finances Before Marriage
Getting married? Congrats! But before you take the plunge into marriage, it's smart to have a little talk about personal finances. Remember, most couples divorce because of money issues, so if you start talking about money before marriage, you'll be way ahead of the game.