The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
In the absence of a credit score and established credit history on a credit report, alternative credit references are perfectly acceptable to help you obtain an FHA mortgage.
Collection accounts need to be settled (paid) in order to qualify for mortgage financing.
I have seen folks with fantastic credit have their credit scores drop dramatically because in the months before they met me for the mortgage prequalification they paid off and closed their credit card accounts
The Federal Trade Commission announced a settlement with LifeLock for misleading claims about its Identity Theft Protection services.
Multiple mortgage inquiries do not affect a credit score.
No credit means just that: here’s a person who has no established credit history.
I’ve been reading credit reports for 20 years. Often I’ll ask a client the status of a judgment that appears on the credit report. We’ll need an explanation for the derogatory credit account and the judgment may need to be paid and a Satisfaction of Judgment obtained in order to get the client’s mortgage loan [...]
It’s more important than ever for consumers to understand some fundamental issues about their credit reports.
In an effort to simplify the whole credit report shebang and provide a starting point, here’s some advice I posted on LifeHacker.com earlier today.
Thoughts and information on mortgages, home buying and real estate. This site is for informational purposes only and is not meant to solicit or advertise mortgage services.
