Dec 1st 2010 11:21AM
New credit-scoring rules are making qualifying for a mortgage more challenging than ever. Our sister site WalletPop explains how Fair Isaac, the company that produces the dreaded FICO score, has introduced a new, more rigorous version called the FICO 8 Mortgage Score. Another credit score, known as VantageScore, is... Continue Reading »
Aug 5th 2010 4:39PM
More than 14 million homeowners are underwater on their mortgage today and Deutsche Bank projects that number will increase by 6 million to 20 million by the end of 2011. The bank also expects a rise in strategic defaults, especially in the states with non-recourse (the banks can't chase you for any shortfall). There are... Continue Reading »
May 17th 2010 3:00PM
You may not realize it, but when you buy a score from one of the three credit bureaus you could be buying a VantageScore rather than a FICO score. Why does it matter? Mortgage lenders likely are using the FICO score, so what you just paid for won't give you the information you need. A FICO score, named for the Fair Isaac... Continue Reading »
