Repair Credit Score

Archive for the ‘Credit Score’ Category

Question: Credit Score scale is upto 950 :S ?

this is in reference to my other question

Answer: It is likely the VantageScore, which ranges from 501 to 990. The VantageScore goes past 850, not the FICO Score. So, I'm thinking that you might be getting the two scoring models and their ranges mixed up.

PS.: I replied to your other question about this.

Global Cash Formula

Question: How would you change Credit Scoring methods if it were up to you?

Some of the information here kind of miffed me.

Answer: That was a biased report which had an axe to grind and only concentrated on the scoring methods which did not seem logical while remaining silent on those methods which did make sense. Should there be some adjustments? Yes. But overhaul the system? Probably not. For all the slamming at the banks, I find it interesting here on Yahoo Answers! how many people loaned money to friends or family who could not get a loan and are asking how to get money back from the deadbeat people they loaned it to. Obviously, the banks knew a hell of a lot more on how to judge a person's creditworthiness than these amateur bankers. Adjust some of the methods, but don't trash it. And most importantly, pay your bills on time, don't carry a balance on your credit cards and don't borrow more than you can afford and your credit rating wil be just fine.

Why Your FICO Credit Scores Are So Important

Question: how hard a hit does your Credit Score take with a short sale home?

I am doing a short sale home how hard a hit your Credit Score take

Answer: Anywhere from 100 to 150 score points. It won't be pretty, and will prevent you from obtaining another mortgage for at least three to five years, if not longer.

California Real Estate Crash Crisis Meltdown - Abandoned residential developments March 28, 2010