A case for looser credit scores

WASHINGTON – Are lenders’ credit-score requirements for home purchasers this spring too high and out of sync with the actual risks of default presented by today’s borrowers? The experts say yes.

Baby boomers’ retirement: The country’s biggest and most predictable train wreck? How to get on the housing ladder If you are really desperate to get on the housing ladder but don’t see yourself being able to get a foot on the first rung any time soon, it may be time to get creative and think of options such as living on a houseboat, converting small outbuildings (such as garages and sheds) or building a tiny house. · The roughly 75 million americans who make up the baby boom generation are leading the country through yet another sweeping societal change. About 3 million baby boomers will hit retirement age every year for about the next 20, and will affect how caregivers and policymakers shape the health care system for decades to come.

But beware of overshopping-or your credit score could pay the price. When you need a mortgage pre-approval, you’ll want to shop around. Don’t Let Mortgage Pre-Approvals Sink Your Credit Score.

DeSoto Square mall foreclosure suit has day in court. Here’s what the judge decided A 23-year-old man has been arrested for stealing a life-size cardboard cutout of pop heartthrob justin bieber. david dowling made off with the picture of the teen singing sensation after taking it.

If a lawsuit go to trial, a judgment against you will likely be noted on your credit report and hurt your credit score. Lost a Court Case? Your Credit Score Could Take a Hit | Fox Business

Credit Scores Fully Explained (Plus ONE Common Misconception) At the height of the financial crisis, there were nearly 1.6 million bankruptcy filings, the majority of which were consumer cases. Nearly 10 years later. They have been free of debt since and now.

Credit scores that were acceptable risks in the early 2000s – say FICOs in the 640 to 680 range – turned into larger than anticipated losers when the recession hit.

Ending the Generational Abuse of Student Debt Other debt. According to a NerdWallet report, the average household in the U.S. carries a total debt load of nearly $135,000. For households carrying a specific type of debt, we’re looking at averages of roughly $50,000 in student loan debt, $29,000 in auto loan debt, and almost $17,000 in credit card debt.

In most cases, it can take anywhere from six months to two years after the filing for you to begin to see an improvement in your credit score. rebuilding credit After Bankruptcy Following the completion of your Chapter 13 case, you may initially find it difficult to get approved for credit cards or other lines of credit.

For years, consumers have had little (free) knowledge about how these and other negative actions would affect their credit scores. Thanks to FICO’s Credit Problem Comparison, we know a little more about how many points will be lost from some of the most common mistakes.

Many financial miscues can cause a credit score to fall. A declaration of bankruptcy, missed credit card payments and late auto-loan payments can all hurt your three-digit score. Few financial problems, though, can damage a credit score quite as significantly as a housing foreclosure. A foreclosure can drop a credit score by 100 points or more.

Some 21 percent of Americans have scores below 600, which is considered subprime, according to credit bureau Experian. Even the average credit score, 675, is too low to qualify for the best rates on conventional mortgages. The good news is that it’s possible to buy property with an average or even poor credit score.

Triangle home sales rise in May, buyers get personal 4 days ago · Surveyors claim the property market may be stabilising after a rise in buyer demand for the first time since November 2016. The RICS UK Residential Market Survey for June found that 10% more respondents saw buyer interest rise rather than fall, while newly agreed sales were positive for the first time in ten months.