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.
Real Estate Market: Improvement Through Employment, Refinancing, And Avoiding Foreclosure
What steps can we take with the economy to improve the real estate market? Keeping people employed, changing refinancing rules and encouraging people to stay in their homes and avoid foreclosure are some possibilities to improve the real estate market. If you have suggestions for how to improve the real estate market, send Ilyce an email.
Seller Financing Risks Require Due Diligence
A home owner asks about offering seller financing on a home he's selling. He wants to know what's involved in seller financing and who to involve in the transaction. First he needs to assess whether a potential home buyer will make the home mortgage payments and what to do if the buyer later stops making payments. When a seller sells a home with seller financing it's as if the seller becomes a mortgage lender or bank. That means the seller may have to be willing to foreclose in an owner financing situation.
Deed in Lieu of Foreclosure Affects Credit Score
A landlord wants to sell her investment property and has trouble. While the property is rented, the rent does not cover the mortgage. The landlord wants to know the effect of using a deed in lieu of foreclosure on her credit score. She called the credit bureaus but could not get a direct answer. Ilyce says that the effect of a deed in lieu of foreclosure on a credit score depends on the individual because each person has different credit factors.
Ilyce Glink on WSB Radio – September 5, 2008
Today on the Clark Howard Show, Ilyce Glink filled in. Ilyce discussed the dive in the stock market in the wake of the unexpected high unemployment numbers. The market on Friday started out in another deep dive, but ended the day up modestly. Ilyce also talked about her trip to Italy and how Continental Airlines has decided to charge $15 for the first checked bag. Ilyce answered questions about how many credit cards you need to have active to keep your credit score high, how to improve your credit in the wake of a divorce, how to get a developer to fix a problem with rotting windows throughout a development, whether it is a good time to refinance, how you know if you have been the victim of a predatory lender, how to find a financial planner (and if you should use a free planner from Vanguard or Fidelity), whether CDs will be affected by the FDIC's takeover of Integrity Bank, and what to do if a credit card company has erroneously canceled an account. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
Condominium Foreclosure Home Equity Loan Default Affects Future Credit
A former condo owner describes losing his condo to foreclosure and asks how defaulting on a home equity line of credit will affect his credit score. Will defaulting on a HELOC affect his credit score after the condo foreclosure? What are the ramifications of a foreclosure on credit and obtaining credit in the future?
Credit Card Companies Can Change Terms
Many credit card companies will try to convince you to open an account by promising not to change your credit card rates. Unfortunately, this isn't a promise they intend to keep. What promises do credit card companies make about credit card rates? What factors affect credit card rates? Can your behavior affect your credit card rates? Can factors out of your control affect your credit card rates?
Credit Card Company Calls Debtor’s Parents
Jason, a 22-year old listener, called the show to complain that he was 3 months late on an $850 credit card debt, and his credit card company called h...
Your Credit Card Terms May Change At Any Moment
While it may not feel good to carry a credit card balance, what's worse is when credit card companies change the terms of the card you carry in their ...
What Does Your Credit Score Really Mean?
Personal finance magazines and TV shows often tell you to raise your credit score and that you need a good credit score to get a mortgage loan with a ...
More Americans File For Bankruptcy In First Half Of 2008
More Americans filed for bankruptcy in the first half of 2008 compared to the first half of 2007. The American Bankruptcy Institute announced that fi...