I will start posting atleast 3x a week!  Please leave me any questions and I promise you I will have the answers blogged! 

There are so many unanswered questions out there and I hope to be the one to provides  you an open honest answer.

Warm Regards,

Roth & Sara

What we can help with

Lower interest rates for
-Auto loans
-Mortgages
Lower Insurance premiums
Lower credit card rates
Remove debt
Stop the creditor harrasment
Get a will
Get a living trust
Boosted credit score

Check out our Credit Repair Blog

or visit our Credit Restoration Site

So if you plan to improve and learn how to increase credit FICO score, you might as well know why it's so important. Lending institutions use the FICO score to determine credit worthiness. In layman's terms, a low FICO score can prevent you from getting the apartment of your choice, securing certain types of student loans, and yes, getting rid of your 1969 Vista Cruiser.

The Credit Gods, Equifax, Trans Union and Experian, each calculate their own FICO scores for you, this little tidbit will come in handy when figuring out how to increase credit FICO score, but more on that later. FICO scores range from 300-850. A FICO score lower than 600 is considered poor credit, while anything above 713 is in the good credit range. Most Americans take pride in their rating and have taken the steps to repair bad credit. The United States has a median FICO score of 725.

It's time to discuss how to increase credit FICO score. As a result of the Fair and Accurate Credit Transactions Act (FACT), everyone is entitled to one free copy of their credit report each year-and that's a FACT. The free report won't include any information on your FICO score, but incorrect information may be compiled in your report and is helping to drag your credit rating down. In which case, that item can be disputed. By law, any item in your credit report that is disputed, must be followed up with a full investigation.

Know the facts about your credit score when shopping for a new home loan, refinance loan or home equity loan.

Your credit score is a number, (usually between 300-850), used to rate how risky a borrower you are; the lower the score, the greater the risk you pose to creditors. Most mortgage and credit card lenders use credit scores when making lending decisions. A low credit score may result in a denial of credit and lenders will charge higher interest rates on loans to individuals with lower scores. This practice is known as risk-based pricing.

Individuals with high credit scores get superior interest rates to those with lower scores. And individuals with lower credit scores are often targeted with high risk-based loan programs and pay higher interest rates. For example, individuals with top credit scores might pay about 5.5 percent for a $250,000 mortgage with a monthly payment of $1,419. If extended credit at all, an individual with a credit score under 679 could pay over 15 to 30 percent for the same mortgage, carrying a monthly payment of over $1,630. Over the course of a 30-year term, that’s about $72,000 to $165,100 in extra interest!

Understanding your Credit Profile to Improve your Credit Scores.

Equifax™, Experian™, and Trans Union™ dominate the world of Credit Reporting Agencies. Each uses a different model for credit scoring. Credit scoring models are developed by analyzing statistics and picking out characteristics that are believed to relate to creditworthiness. Credit Reporting Agencies use different scoring models for different purposes. Generally, credit scores are calculated by analyzing a combination of factors including: payment history, outstanding debt, credit account history, recent inquiries, and types of credit.

The first step in managing your creditworthiness is to get a clear picture of your credit profile. Study the data from the top three credit bureaus to make sure all the information is accurate. In the event of discrepancies, send letters of dispute to the credit-reporting agency to have errors on your credit profile corrected. Also, don’t hesitate to consult your mortgage specialist who can provide guidance and if needed, refer you to credit repair specialist.

Fix and Maintain a Healthy Credit Profile

Identify problem areas on your credit profile and make a plan for improvement. For example, if you’ve had a hard time paying your bills on time, sign up for an automated payment service. If your debt levels are above 40% of your available limit, create a payment plan to reduce your balances. Set goals for improving your credit and reward yourself when you reach a milestone.

To keep your credit healthy, sign up for a Credit Monitoring service which will help you stay aware of any changes in your profile. If any disputed inaccuracies persist, contact the creditor and try to have the item eliminated from your credit profile. If you want to tell your side of the story, send a written request to the Credit Reporting Agency to have a consumer statement added to your credit file. Keep copies of your old credit profiles and letters of dispute in a safe place for future reference. Plan to evaluate your progress quarterly.

Each inquiry may reduce your credit score. However, multiple inquiries within a short amount of time, like when you are shopping for a mortgage, are grouped together to lessen the impact. The actual impact depends on the number of inquiries, time period and other factors on your credit profile.

Consolidate high interest credit card debts into one lower interest account. However, avoid combining debts onto a new credit account with a resulting balance above 40% of the available limit. Check your credit profile frequently while moving these debts to make sure that everything is being properly recorded.

Taking a proactive approach to the management of your credit profile can save you tens of thousands of dollars over the course of your lifetime. And it is never too late (or too early) to start!

Non so cosa aspetta la Mercedes a vendere la Smart con un voucher che ti permette di riconsegnarla nel week-end e usare una berlina per il sabato e la domenica.

Forse però questo non è rent-a-car, forse è solo marketing... o forse qualcosa di ancora più innovativo e avanzato: il buon senso.

Io mi muovo su questi due fronti: coworking groups (qui) ed ex-borsisti AFS/Intercultura (qui).

Citujem:Vláda dnesrokuje v premiérovom rodnom meste Topoľčany.Na obecnom úrade v Hrušovciach,kde Robert Fico do šiestich rokov vyrastal,visí jeho portrét,akoby bol prezident.

Tak Fico vyrastal na obecnom úrade,hádam tam nevládol.

I have often heard that money and financial matters are the primary cause for marital disputes. I don't know if that is factual, but I can definitely see that as a possibility. In addition, the milestones of having children, purchasing a first home, and providing for the family become increasingly difficult when a bad FICO score is weighing down the marital partnership. What happens if your spouse brings a large amount of debt into the marriage? Wouldn't you pay that debt together as a married couple?

Would you ask your potential spouse to see his or her FICO score?

If you're being turned down for credit left and right by every car dealership, mortgage broker, credit card company, landlord, or you're not even able to refinance your own house, that is a strong indication that you have some bad negative items lurking in your credit report that are scaring away potential lenders.

You have two choices: You can cut your losses and either walk away and decide to wait it out the next seven years until those negative items fall off your credit report, or you can take control over the situation today and learn all you can about how the FICO scores work.

But before we jump right in and answer the question, “How Do I Repair My Credit File”, let us cover the basics of what makes up a FICO score.

The FICO score is a complex formula used to analyze the information contained in the big three credit reporting agencies files to arrive at a number or score that evaluates a persons’ creditworthiness.

Basically, the FICO score is a measure of risk you represent for lenders, compared with other consumers.

This is what makes up the no longer secret credit formula used by creditors to grant you credit or not.

35% of your FICO score contains your record of on-time payments of loans/credit.
30% of your FICO score is about the amount/type of outstanding debt you have.
15% of your FICO score is the length of your credit history.
10% of your FICO score is the mix of your various credit accounts.
10% of your FICO score is the number/types of accounts that you have recently opened.

I have given you a lot of things to think about when it comes to How Do I Repair My Credit File. Some of this information will work better for one person's credit report than another. It all depends on your unique situation. What I have presented are some general tips for improving your credit files by first knowing what it contains which will lead you to better interest rates and loan programs.

During a shopping spree a few months ago, I opened several retail credit-card accounts to take advantage of an immediate 10% discount on that day's purchases. Surely this familiar offer was risk-free as long as I paid my bills on time, right? It wasn't until I reported this story that I found out my credit score could have been negatively affected by the spate of new accounts I opened in such a short time. I had no idea.

Many people are ignorant of what their credit score is, how they can hurt or help that score, and how it can be used against them. Some 49% of 1,013 consumers polled do not understand that credit scores measure credit risk, according to a 2005 survey by the Consumer Federation of America and Fair Isaac Corp. (FIC ), the company that created the most widely used credit score formula called FICO.

Lenders have used these scores for years to determine whether to grant you a loan and what interest rate you'll pay. "Credit scores are very powerful predictors of consumers' future [bill-paying] performance," says Mike Fratantoni, a senior research director at the Mortgage Bankers Assn. But with the rise of technology that can automatically assess consumer creditworthiness while you wait, FICO scores are now requested by insurance companies, cell-phone providers, utilities, landlords, and even prospective employers. That's a reason to make managing your FICO score a priority.

But first, just what is a credit score? To come up with one, Fair Isaac uses 22 pieces of data collected from the three major credit bureaus (Equifax (EFX ), Experian (GUS ), and TransUnion) to calculate a credit score -- 300 is the lowest, 850 the highest. The final number is a composite that comes from individual ratings in five categories: payment history (35% of the rating); length of credit history (15%); new credit (10%); types of credit used (10%); and debt (30%). Income is not a factor. "A person can have a very high income and never pay their bills," said Craig Watts, public affairs manager for Fair Isaac.

Fair Isaac calculates a FICO score based on the data provided by each credit bureau. It's not uncommon to see up to a 50-point differential between ratings. The reason: Bureaus collect data at different times of the month, or one bureau may have inaccurate information.

The higher the score, the lower the risk you are to a creditor -- and the less interest you'll pay. Only 13% of the population has FICO scores of 800 or above; the median is 723. There is no single cut-off for loans, and it varies from industry to industry. But generally borrowers with scores above 740 receive the best rates.

To see how a change in your FICO score affects how much you'll pay, consider this example. On a $350,000, 30-year fixed mortgage, you'll pay 6.24% in interest, or $2,153 a month if you score between 720 and 850. If your score drops to between 620 and 674, your interest rate jumps to 8.05%, and your monthly cost rises to $2,581. You will pay an additional $154,131 over the life of the loan, according to a calculator on myfico.com.

WATCH YOUR WORTHINESS 
Want a peek at your FICO scores? Many people think they can get their FICO scores from their credit reports. They can't -- but it's still a good place to start. The Fair & Accurate Credit Transactions Act of 2003 entitles you to a free credit report from each major credit bureau once a year. I ordered my reports by telephone from annualcreditreport.com and received them all within 10 days. It's smart to request a report from a different agency every four months so you stagger the reports over a year. That way, if there's bad information in one, you'll spot it sooner.

When you request a free credit report, each bureau will offer to calculate a credit score for $6.95. Experian and TransUnion use proprietary formulas; Equifax uses FICO scores. Pass up these offers because the information is not as comprehensive as you'll get elsewhere, and lenders are less likely to look at these scores.

For the most detailed explanations on your FICO scores, go to myfico.com. A score from one credit bureau costs $14.95, all three are $44.85. It's useful to buy all three because large lenders either average the scores or take the middle one. You'll want to check your FICO scores once a year or several months before you apply for a loan.

The negative factors that bring your score down remain on your credit report for seven years and can adversely affect your FICO score. But lenders typically look back only in the past two years when they make credit decisions. One 30-day late payment shouldn't make a difference. Lenders look for trends.

I paid for three scores and anxiously waited while the computer calculated them on the spot. Within seconds, I was relieved (not to mention a bit proud) when 771, 751, and 738 popped up on my screen. Still, I wondered why I wasn't in the 800-plus range. To find out, I reviewed the various strategies credit experts recommend to raise FICO scores.

Pay all bills on time. This is probably the most important factor in the FICO calculation. If you're consistently 30 days overdue, your score can drop by as much as 100 points, depending on how long the account has been open and how long ago the late payment took place. To avoid late payments, consider automating your bill-paying process. I got high marks in this arena.

Think twice before closing accounts. Lenders are looking for consumers with long credit histories that have been managed well. But because of the increase in identity theft, you don't want too many open accounts that you don't use. "Be judicious about the accounts you have," says Norm Magnuson, public affairs officer for the Consumer Data Industry Assn. In an effort to consolidate our finances, I canceled an American Express (AXP ) account I had for 20 years to become an authorized user on my husband's account. While I benefit from his 20-year credit history on that account, it was still a mistake to eliminate my own. I have a few cards in my name only, but the history isn't as long.

http://www.businessweek.com 

What goes around, comes around, or better, as they say in Finland; what you leave behind you, will you find in front of you.

Such is the best of euphemisms I can muster in print when discussing the credit reporting business, or "the credit bureau." More particularly, I am speaking about the recent court ruling against TransUnion, LLC, who this past May decided to settle the ten year case of wrongly selling erstwhile private consumer data to retailers, marketers, lenders, or whoever wanted to "pay to play" with our personal lives. Bad dog! Originally, TransUnion attempted to use the Freedom of Information Act as a shield in defense of selling our financial souls, and thankfully, the Supreme Court would hear none of that argument.

TransUnion's agreed class-action settlement, pending further appeals, includes $75 million in fines, some free credit "services," and/or a little cash available to consumers, provided you sign-up for the suit, and I strongly encourage you to do just this. Some 190 million Americans are eligible, that is, anybody who had a loan or credit card from 1987 through the end of this past May.

You have only until September 24, 2008 to take advantage of this settlement, and the easiest route is to visit the site; Listclassaction.com. You will be asked for some very basic information including your name, address, email address, and last four digits of your Social Security Number. You have the option to select either the "basic" or "enhanced" service. Basic will provide free credit monitoring for six months and normally retails for $59.75, according to the settlement. Those who select this service can also opt for a cash payment. The enhanced service will provide nine months of free monitoring, plus use of a "mortgage simulator" that lets you see whether improving your credit score would affect your mortgage rate and how much you could potentially save.

While the basic option plus cash sounds good, how much money you would actually get depends on how many of you take advantage of this notice and exercise your right to privacy, dignity, and a little financial freedom. I'm hoping the number will be in the mega-millions, and personally chose the enhanced option for this very reason.

We feel so strongly about this issue that we are leaving a bookmark to the TransUnion Settlement Site; Listclassaction.com here on our site until the end date of September 24, 2008. Do this, and pass it forward. It's painless, takes seconds, and is a home run for all consumers.

~ EDITOR, SAN DIEGO HOME RESCUE

View the entire article on his website the AZ Mortgage Guru.

Updated - As of July 14, 2008, FHA loans have risk-based pricing on their mortgage insurance. Again, it's more expensive to get a loan if your credit isn't so good. Click to read the AZ Mortgage Guru's explanation of risk-based PMI on FHA loans.

Related Posts from Other Bloggers

• The XBroker Explains (once and for all) How Your Credit Score is Calculated, and How it Impacts How Much Your Loans Cost You

Non posto l'invito perché scrivo con una connessione molto traballante e non riesco a caricare immagini, però se cliccate sul link di AT casa lo vedete.

(Come, non sapete cos'è il Read&Drink? Leggete qua, presto!).

Let's start with the meaning of FICO.  It stands for Fair Isaac Corporation.  Founded in 1956 by engineer Bill Fair and mathematician Earl Isaac.   It appears that in the 1950's Mr. Fair and Mr. Isaac developed a credit scoring system for American investments.  They started making their service available by sending out letters to 50 of America's largest credit grantors.  Ironically, one of their first customers was Conrad Hilton.  Yeah, Paris Hilton's great grandfather.  I don't make this stuff up.  As stated on Fair Isaac's website "Conrad Hilton hires Fair Isaac to design, program and install a complete billing system for one of the first credit cards, Carte Blanche. (1957)".  You just have to wonder if the remaining family members are as concerned about FICO scores.

I just have to digress again and say that Fair Isaac is a publicly traded company.  It went public in 1986.  (NYSE-FIC). 

Anyway, the importance to you is that the FICO score is used by lenders and other creditors to extend credit.  Recently I saw this chart by Countrywide showing the relationship of FICO scores and interest rates.

The FICO score affects your life.  It has become increasingly important.   It dictates whether or not you get a loan and if you get a loan what kind of interest rate you will receive.  It is a lenders version of the Indian Caste system. Those with a high credit score 760+ will receive a better interest rate than those who have a lower score. 

This small FICO lesson is an important one because if you are a buyer you can see that if your score is low you will be spending more monthly income on a $400,000 home than your neighbor with a good score.  Equally, home sellers can see the challenge many buyers face in affording homes right now.    Due to the lending melt-down, or "sub-prime" problem these scores are given a lot of power. 

What to do?  There are many FREE sites to learn more about your FICO score.  

Here are a few.

Credit.com

CreditTrak 

Equifax

Experian

Transunion

Annual Free Credit report

annualcreditreport.com

We hear about it all the time…you need a good FICO score, but do you know what that means, or how it can effect getting a home loan? A FICO score is a credit score developed by Fair Isaac & Co, and it is a method real estate lenders and mortgage brokers use to determine whether or not it is likely you will pay your bills. FICO scores started being used in the late 1950s, and they have become widely accepted by real estate lenders as a reliable means of credit evaluation. And as you may or may not know, a good credit evaluation is vital in ensuring you get your home loan. A FICO score, or credit score, attempts to condense a borrower’s credit history into a single number, and in this case, the higher the better

Many mortgage brokers and real estate lenders base how much they will lend you on how high or low your FICO score is. The number these lenders determines to be good can vary from state to state and may depend on what’s going on in the housing market at the time you are trying to get a home loan. That being said, you are usually going to be ok with a FICO score of 700 or higher. Again, real estate lenders and mortgage brokers have to base the number on how big a risk they can take at any given time, so it’s always good to know the current standing of your FICO score, especially if you are in the market for a home loan.

Credit scores analyze a borrower's credit history considering numerous factors such as:

• Late payments
• The amount of time credit has been established
• The amount of credit used versus the amount of credit available
• Length of time at present residence
• Negative credit information such as bankruptcies, charge-offs, collections, etc.

There are really three FICO scores computed by data provided by each of the three bureaus––Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score.

So, if you are in the market for a home loan, or if you think you may be in the future, it’s always a good idea to know what your FICO score is. For more information on this or anything else regarding buying or selling property, visit us at www.iappraiseforyou.com or contact adam@iappraiseforyou.com   

Checking your own credit report does not impact your credit score. Many providers charge a fee for accessing your credit report but you can also can get a free credit report and see for yourself what lenders see when they access your report when you apply for a loan.

The reason you should check and verify your credit report is because identity theft is gradually on the rise and reviewing your credit report can help you identify any errors, invalid entries, or mistakes. Such errors can actually affect your ability to get a credit card, car loan or personal loan because that is what lenders see when they check your credit history. Sometimes your name may be misspelled - sometimes another person with the same name or a family member is mixed up with your credit history. You have the right to have any erroneous information removed from your credit history.