Credit Scores and Your Mortgage
The FICO formula for credit scores has changed, which can be a benefit or a detriment depending on several factors.
High credit card balances can be a potential credit score detriment to mortgage borrowers.
Some credit card companies are reducing credit limits and closing accounts, which may impact the mortgage industry because of possible credit score changes.
Continue reading about credit scores and your mortgage
High credit card balances can be a potential credit score detriment to mortgage borrowers.
Some credit card companies are reducing credit limits and closing accounts, which may impact the mortgage industry because of possible credit score changes.
Continue reading about credit scores and your mortgage
Labels: credit score changes, credit scores, mortgage
posted by CRHOME.com at
3:29 PM
2 Comments:
Although a loan does not start out as income to the borrower, it becomes income to the borrower if the borrower is discharged of indebtedness.
Make sure to know the state of your finances before contacting your lender. Determine how much income you're bringing in each month, how much you're paying in bills and where you can cut costs. Just a tip!
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