You Are Your Spouse’s Credit

One of the situations I see often is when a person has great credit but their spouse does not.   With FICO scores taking and even more important role in qualifying for a mortgage today than even just six months ago, this can be a very big issue for potential home buyers and folks looking to [...]

Read Full Post »

You are your spouse’s credit…

One of the most frequent questions I get from borrowers when applying for mortgages is whose credit is used for the loan application.  In most cases, when you apply for a mortgage jointly with a spouse or other person, lenders will use the lowest credit score for qualifying.  So if you have a 720 FICO [...]

Read Full Post »

What’s in Your Wallet? Capital One Stops Screwing Their Customers

Capital One’s advertising campaign did ask a great question.  Using a Capital One credit card used to insure that there would be less money in your wallet.  After years of stalling and excuses, Capital One has finally agreed to start reporting their customers’ credit limits to the three major credit rating bureaus. 
This is an important [...]

Read Full Post »

A $3.00 mistake

Everyone makes mistakes.  Especially the credit bureaus.   Unfortunately, when the credit bureaus make mistakes it can be very costly for YOU, not the credit bureau.  This is why it is important that consumers really know what is on their credit reports and monitor it like a hawk.  Consumers should get a tri-merge copy of their [...]

Read Full Post »

FTC Won’t Act on Trigger Leads – Siding with the Dark Side

In a previous post I introduced you to a particularly disturbing money grab by the three major credit bureaus called trigger leads. Trigger leads are where the credit bureaus sell consumers’ information after their credit is checked by a mortgage lender. For example, you apply for a mortgage and because the lender [...]

Read Full Post »