Did the pandemic hurt your credit score?

The global coronavirus pandemic has led to a host of consequences for Americans’ personal finances. From unemployment to business closures, a surprisingly resilient stock market to a booming real estate and mortgage industry, the only constant has been change this past year.

But one unintended consequence of the pandemic may have been a hit to consumers’ credit scores.

A large part of ...

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Everything you need to know about appraisals

If you’ve bought ot sold a home or even refinanced your mortgage, you’ve surely encountered the term “appraisal.” But what is it? An appraisal is just an informed evaluation from a professional appraiser. It attempts to define the market value, which is used by banks, lenders, and buyers and sellers.

It comes after a thorough and detailed inspection of the property in question, ...

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Grrr and ughhh about $$$! Our stress about money and finances is higher than ever

According to new data from the American Psychological Association and other studies, money is the leading cause of stress for Americans.

In fact, 76 percent of Americans report that financial worries stress them out the most, above even work (70 percent), angst about the economy (65 percent), family responsibilities (47 percent) and personal health concerns (46 percent).

1 ...

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TransUnion and Equifax Forced to Pay For Deceiving Consumers About Paying for Credit Scores and Services

When TransUnion and Equifax got caught for defrauding consumers by urging them to unnecessarily pay for credit scores and products, the Consumer Financial Protection Bureau (CFPB) stepped in to make things right. Now, the CFPB has taken strong action against the credit reporting agencies, forcing them to pay stiff fines as restitution to those they deceived.

In fact, TransUnion and Equifax have been ...

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Mortgage brokers and loan officers: here are 10 ways you can increase a borrower’s credit score in short order (Part 2)

Loan officers and mortgage brokers often see potential home buyers fall a few points short of qualifying when it comes to credit score, but that doesn’t mean they need to be turned away. In fact, there are strategies we can employ to increase a borrower’s credit score by 5, 10, or even 25 points in a short period, ...

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