Tagged: credit score

10 Terms Every New Homeowner Should Know

When you buy a home for the first time, it’s usually the largest purchase in your life thus far. There can be a lot of complicated concepts that can be difficult to understand. Bone up on your home-buyer’s vocabulary to make yourself more knowledgeable about home loans and better able to make good financial decisions. Terms you should know: 1. Prequalified If you are prequalified, that means that your banker has decided, based on basic information, that you’ll probably qualify for a loan. The next step is getting a preapproval; this involves examining pay stubs and a closer look at...
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How Do Public Records Affect Your Credit Score?

According to BSC Alliance, it’s estimated that anywhere from 1.3 to 1.5 million Americans file for bankruptcy protection each year. In 2013, Fox Business News reported that the IRS filed over 300,000 tax liens, or unpaid assessed money against your property or salary. Hundreds of thousands more Americans have court judgments filed against them. So just what do bankruptcy, tax liens and court judgments have in common? They’re all types of public records – or public legal documents – that can appear, linger and negatively impact your credit score. In fact it’s estimated that bankruptcy alone can dock an otherwise...
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Credit Score and Home Insurance

You already know how important a good credit score is to getting approved for loans and securing the best interest rates available on them. But there are other reasons to repair credit aside from low interest rates – like the impact it has on your home insurance premiums. Yes, contrary to what you may have heard elsewhere, your credit score has a direct effect on how much you pay for homeowner’s insurance. For instance, according to PropertyCasualty360: Homeowners with bad credit pay up to 91 percent more in home insurance premiums than those with excellent credit. Homeowners with average or...
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