Archive for the ‘Credit Fundamentals’ Category

by Jeffrey R. Lipes As a first-time homebuyer, one of the best pieces of advice is to get prequalified for a mortgage before you start looking for a home; however, before you call or visit your mortgage broker or banker, you take one important step to protect your privacy. If you do not take this step, oncethe mortgage lender pulls your credit report, your ... Full story

Maxed Out–Take I   During my career I’ve had the opportunity to meet some gifted and caring people doing their best to bring about positive change in our society. On March 14 I met a number of these individuals in an unlikely setting, a documentary premier at Harvard Law School.  “You’ll laugh! You’ll cry,” but soon you’ll come to the realization that the life stories presented in director ... Full story

  You’re absolutely right, Thom. Maxed Out aims to enlighten us all to the practices of financial institutions that have contributed to higher profits for them, while showcasing the so-called “middle class,” which is going deeper into debt and even facing financial ruin. I would add that credit card companies have also been good at attracting new full-time college students to apply and receive their first credit ... Full story

A basic step to rebuild  or build your credit If you’ve had difficulties with credit in the past, you may be finding it difficult to reestablish your credit as lending practices tighten. Don’t worry. There is a tried and true option that you shouldn’t overlook: the secured credit card.  A secured card simply requires you to deposit funds into an account ... Full story

Recently I read a great article called "Beyond the 6 Myths of Credit" in Scotsman Guide by Jeff Lau. I thought it would be good to share this information, because many of the myths are common mistakes we financially naïve folks make. Credit scoring and the credit world are mysteries to most of us, and everyone has an opinion about how to fix bad credit, what ... Full story