Your Credit Score Secrets

By Amy Pedersen

As everyone has noticed, the mortgage lending industry is playing a whole new ball game these days. With the savings rate currently where it is, it is no wonder. The savings rate has not been at this level since the Great Depression and still people need a place to live. When it comes to obtaining the right interest rate and getting the right home loan these days, one has to pay close attention to their credit score. Credit reporting and credit score numbers play a huge role in the game and in which type of loan you are offered.

By raising your credit score and repairing any problems on file with the credit bureaus, you can present yourself with more options and save a lot of money in interest rate reduction. The average home loan of lets say, 200k with a rate of 20.75% will cost interest of $81,360 more than the EXACT SAME LOAN with a rate of 5.75% which will cost $81,360 less- Time to splurge and get that new swimming pool with the money you will have saved over the course of your loan.

 You will also find yourself qualifying for different types of loans, higher loan amounts and better offers all over from lenders who want your business. The mortgage industry is hungry for your business right now and they will compete to get the loan from the right consumer with a high or higher than average credit report score. When raising your score, there are several options open and different ways to go about credit repair mostly depending on your current score and debt ratio.

When it comes to credit repair, the way to approach it is different for someone with a score of 550 than it will be for someone with a score of 700 who wants to raise it to a 750. It is also different in the way to go about credit repair when it comes to the varying debt ratios of consumers.

Your debt to credit ratio is going to have a large impact on your credit score and it will also have a Huge impact on how much lenders are willing to lend you. The lenders find debt to credit ratios important, especially with the current mortgage scares. Lenders do not want to find buyers whose credit and debt show that they cannot possibly afford a home right now and who already have too much on their plate.

FIxing your credit and raising your credit score is easy to do by yourself if you know how. If can be done in as little as 90 days and sometimes less, depending on circumstance. But it will have a huge impact on the home loan that your lender offer you. Get the right education and fix your credit now, with simple letters to credit bureaus and the right approach, it is easy to realize that the laws and credit scoring system was written to help the consumer, not the credit bureaus. It is silly to let these credit agencies bully us into thinking we have no control over our scores. It is simply lack of knowledge and education that keeps people from taking the simple way out and raising their credit score.

With simple techniques, calls, letters and planning, most people can raise their credit score quickly. It is simply not knowing where to start that keeps them from doing it and it is sad to think of all of the money lost in high interest rate loans. Save yourself that $81,360 over the course of your $200k loan and renovate that garage, put in the new hardwood floors or replace your kitchen with the money that was saved on your home loan, with only a little effort in credit repair.

It is the highest paid work you will do in years and well worht the effort. Order a simple credit book or guide today and for a small investment of your time and effort, you can fix your credit score and obtain that home loan of your dreams today.

Consumer Publishing Group has created one of the most comprehensive credit repair manuals available, called The Credit Secrets Bible TM. The Credit Secrets Bible has been in print since 1994 and has just been reprinted and updated…..it is absolutely essential if you are serious about fixing or improving your credit. To learn more about the Credit Secrets Bible, visit the Credit Secrets Bible Website here:

CREDIT SECRETS BIBLE

Author: Amy Pedersen, is penned as Your Credit Score Secrets featured Credit Insider whose articles provide insider tips and insightful knowledge of the credit industry. Her article topics range from the nature of credit reports to the underlying problems facing credit scoring and the laws which support credit report repair done by the average person.

Copyright 2008 All Rights Reserved: Amy Pedersen

Even though it seems that as Americans we “have it all” and that we enjoy apparent abundance in all facets of life, many consumers are now finding that they have new and massive financial problems of a size and nature that they have never seen before. Houses are being lost, good credit is being destroyed and families and financial plans are being torn apart.

We use to be a “land of opportunity, with people flocking to our country to live the American dream but truthfully this “land of prosperity” does not paint a pretty picture anymore when you turn on the news. With the savings rate being where it is today, it is true that most Americans are living paycheck to paycheck with things like bankruptcy, poverty, excessive debt and credit card ruin looming in their mind.

What is it that we are missing? It turns out, what we all lack seems to be AN EDUCATION!!! We are rich in “buying power” but we are bankrupt in the knowledge category. We consumers lack the education needed to make the right decisions and to use our financial intelligence to get us ahead of the game.

This issue is only compounded by the fact that most people don’t seem to be aware of how uneducated they really are. Usually the need for learning comes too late and the damage to our credit or financial plan is already done. By the time that most people start to realize what they don’t know about their credit score, they have already suffered damage to their score and need to do some major “re-planning”.

Your Credit Score and Understanding your Credit Score become epically important. When it comes to the savings you find monthly by raising your credit score, people are pleasantly surprised. Imagine being “pleasantly surprised” about anything financially related these days!!

For most people, credit repair and/or restoration should be step number one on the ladder towards a brighter financial future. Improve your credit score, remove any negative items and start bringing down your interest rates and raising your score today for more money in your pocket tomorrow.  Just take a look at the following example:

Home Loan in California:
Principal: $200,000
5.75% rate
30 Fixed Loan
$1,167.00 / month
$14,004 / year

COMPARED TO BAD CREDIT LOAN: 

Principal: $200,000

20.75% rate

30 year Fixed Loan

$1,732.00/mo.

$20784 /year

This amounts to a savings of over $6,780 yearly and over the period of the loan it would amount to a savings of over $81,360 !!!

Lets go buy that new Sports Car and take a SPIN!! Most people have never even THOUGHT to Calculate the savings or amount of money they are essentially THROWING OUT each month by not being educated about their credit report and score.

What are all of us Americans thinking and what are we going to DO about it??!! Think about being able to GIVE YOURSELF A RAISE in your monthly income each month, without having to work twice as hard at your current job in order to get the next raise or overtime hours. FIX YOUR CREDIT YOURSELF and find yourself on the road to a better financial future.

Consumer Publishing Group has created one of the most comprehensive credit repair manuals available, called The Credit Secrets Bible TM. The Credit Secrets Bible has been in print since 1994 and is absolutely essential if you are serious about fixing or improving your credit. To learn more about the Credit Secrets Bible, visit the Credit Secrets Bible Website here:

CREDIT SECRETS BIBLE 

 Copyright 2008 All Rights Reserved: Amy Pedersen
Author: Amy Pedersen, is penned as Your Credit Score Secrets featured Credit Insider whose articles provide insider tips and insightful knowledge of the credit industry. Her article topics range from the nature of credit reports to the underlying problems facing credit scoring and the laws which support credit report repair done by the average person.