It seems kind of silly to have to ask the question, "is that a bedroom?" when you see what obviously looks like one. Our friend, you might just be surprised that what you see might NOT be a bedroom
Upcoming Changes By Credit Reporting Agencies May Bolster Your Credit Score
In news released on Tuesday, Equifax, Experian, and TransUnion advised they are planning to significantly reduce the amount of tax-lien and civil-judgment information found in consumer credit files. Stuart K. Pratt, president and CEO of the Consumer Data Industry Association confirmed that testing is currently underway for the removal of tax-lien and civil-judgment information and a final plan regarding the information is expected to be implemented in July 2017.
Major credit scoring model VantageScore estimates that approximately 11% of the population have some report of tax-lien or civil-judgment data in their credit record, and the upcoming change could result in a possible increase in credit score of at least 11 points. A VantageScore study found that 33.6% of consumers with scores between 581 and 600 saw their scores increase to between 601 and 620 when the lien and judgment data was removed. And 33.1% of consumers with a score between 601 and 620 saw their score bump up into the 620-to-641 range.
Consumers can look for more changes in the works by credit reporting agencies. As part of its National Consumer Assistance Plan, the credit bureaus are also working to overhaul their dispute process by, among other things, employing specially trained personnel to review credit report disputes and supporting documentation. This move would allow consumers who discover an error after obtaining their credit reports through AnnualCreditReport.com to get a second report free of charge.
Are you interested in finding out if the changes could help your credit score and allow you to purchase a home? Call The Shields Team and allow us to introduce you to one of our trusted mortgage lender sources to review the changes with you. Our office number is (423) 433-6517, and we're in the office at Keller Williams Realty at 1033 Hamilton Place in Johnson City. Call us!
Holding a BS in Environmental Science, and MA in Education, real estate was not Shields Team Buyer Specialist Rayne Price's first career choice. It was only after encouragement from his wife and a cl....
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You've become obsessed with your credit score, guarding it carefully, and keeping a close eye on it to have everything in order when you apply for a home loan. That score will will not only affect