Posts with tag credit scores

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 »

Times have been tough for would-be homebuyers, despite record-low mortgage rates and plummeting home prices. Primarily that's because lenders have raised down-payment and credit score requirements. In the following piece, SmartMoney.com explains why it soon may become a lot easier for borrowers to qualify and to obtain the... Continue Reading »

So you want a mortgage to take advantage of record-low interest rates, but your credit score is low? Then you stumble upon a possible solution: a credit repair company that claims it can fix your credit. Not so fast. Regulators and consumer advocates alike are warning Americans about a growing number of credit repair... Continue Reading »

Ever since the housing crisis hit, homeowners unable to secure loans from private lenders -- which have gone back to requiring the traditional 20 percent down payment -- have relied on government-insured loans offered for as little as 3.5 percent down. Now the Federal Housing Administration (FHA) is tightening its belt by... Continue Reading »

The days of living large on debt are coming to a crashing halt, as more than a quarter of U.S. consumers are generating low credit scores. Credit reporting company FICO Inc. reported that 25.5 percent of all consumers, around 43.3 million, have credit scores lower than 599, making them a poor credit risk in the eyes of... Continue Reading »