Common Credit Score Myths

Written by Gary Gresham

Continued from page 1

At Equifax,repparttar FICO score rating is calledrepparttar 148679 Beacon credit score. At TransUnion, itís called Empirica. At Experian, it's known asrepparttar 148680 Experian/Fair, Isaac Risk Model.

The reason each ofrepparttar 148681 three major credit reporting bureaus will have three different scores is because they donít all sharerepparttar 148682 same data. So when checking your credit report, just make sure it comes fromrepparttar 148683 three major credit reporting bureaus: Experian, Trans Union and Equifax.

Examine your credit reports from all three major credit reporting bureaus before you apply for a big loan like a mortgage. Fix any errors in all three reports before you shop for a loan because it takes time to correct your credit report.

* Credit counseling will hurt your score The current FICO credit score rating system ignores any reference to credit counseling that may be in your file. The researchers at Fair, Isaac,repparttar 148684 company that createdrepparttar 148685 FICO credit scoring rating system, found that people getting credit counseling didnít default on their debts any more often than anyone else.

However, any late payments you've had with creditors will hurt your credit score. Credit counseling can hurt your ability to get a loan because you probably have had trouble paying creditors.

Some lenders will back away if you are in credit counseling. Others may see it differently, but usually will charge you higher interest rates than if you had perfect credit.

The best way to improve your credit report score is paying your bills on time and paying down credit card debt. Check your credit report regularly for any errors and make sure you don't fall for these common credit score myths.

Copyright © 2005 Credit Repair All Rights Reserved.

This article is supplied by where you will find credit information, debt elimination programs and informative articles that give you the knowledge to correct your own credit and credit report. For more credit related articles like these go to:

Why Are Mortgage Notes Discounted Anyway?

Written by Frederick B Webb Jr.

Continued from page 1


Let me give you an example:

You have a $50,000 note you need to sell. Although you could sell only a few payments orrepparttar whole note, for this example, let's say you wish to sellrepparttar 148619 whole note.

You do a search onrepparttar 148620 internet and find a long list of brokers hawking phrases at you like, We can get you top dollar for your note..." andrepparttar 148621 like.

So you choose one and give them basic information about your note so that they can give you a quote on what you could expect to receive for your note.

So,repparttar 148622 broker calls you back after speaking with an "actual investor" about your note. The investor has toldrepparttar 148623 broker that he'll pay, say $41,000 for your note.

Your broker says to you, "We can pay you $37,500 for your note.

He explainsrepparttar 148624 whole reason notes are discounted but never mentions that other $3,500 discount you had to take because of his broker fee.

So, without ever discussing fees, you just paid $3,500 to have a guy make a phone call on your behalf to an "actual note buyer/investor.

***A Smarter Way To Sell Your Note***

What I am about to reveal to you isrepparttar 148625 subject of many nasty emails I get from other brokers....angry brokers.

Angry because what I am about to tell you takes money out of their pockets and puts it back into yours.

All brokers are in possession of a "little black book" ofrepparttar 148626 "real note buyers and investors".

Private individuals mostly but it also includes institutional note buyers.

Check it out yourself. It's calledrepparttar 148627 $67 Solution! You can find and use it risk-free by going to:

Frederick Webb is a Certified Cash Flow Consultant and resident of Webb Funding Group, a small debt brokerage agency he runs with his wife, Kashita Webb.

For more information, visit:

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