The Fair Credit Reporting Act (FCRA) is a federal law that regulates the collection, dissemination and use of consumer credit information. It applies to a wide range of entities including consumer reporting agencies (CRAs), creditors, employers, and landlords. However, there are a few exceptions to the FCRA’s requirements. Who is exempt from the FCRA? Government … Read more
When you apply for a Federal Housing Administration (FHA)-backed mortgage, the lender will typically request an FHA appraisal in order to confirm the property’s value and condition. If you’re purchasing a home with an FHA loan, you should be aware that FHA appraisal guidelines are typically stricter than conventional appraisal guidelines, but they also offer … Read more
Navigating the Maze of Homeownership with a 729 Credit Score The journey to homeownership is paved with many decisions, and one of the most crucial is understanding your credit score’s role in securing a mortgage. If you’re sitting pretty with a 729 credit score, you might be wondering, “Can I get a home loan with … Read more
Buying a home represents ownership of one’s own residence for most people, and it goes beyond simply making an investment in real estate. Acquiring a home is a substantial financial commitment that typically necessitates obtaining financing via a home loan procedure that includes a mortgage or a deed of trust. The process of obtaining and … Read more
The intention was to design a status symbol for those with high credit scores who wished to flaunt their financial sophistication. Over the years, however, gold cards have evolved into something else entirely. These days, gold cards are seen primarily as status symbols for wealth or power and come with benefits like discounts at hotels … Read more
The Monetary Policy Committee (MPC) of the Bank of England is anticipated to raise interest rates tomorrow in an effort to bring inflation back on track toward its two percent target. Although the impact on mortgage holders has received a lot of attention, research from the Joseph Rowntree Foundation (JRF) indicates that low-income families’ cost … Read more
It involves bargaining with your mortgage lender to draft a new contract that alters the terms of your initial mortgage. If you want to keep your house and are unable to make mortgage payments for an extended period of time, you may be able to get a loan modification. In order to modify your loan, … Read more
We are an independent, advertising-supported comparison service. Our objective is to empower you to make confident financial decisions by giving you access to interactive tools and financial calculators, publishing original and unbiased content, and allowing you to conduct free research and information comparisons. Issuers that Bankrate has partnerships with include American Express, Bank of America, … Read more
Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com.Dear Experian, Divorce is a life-altering event that can have significant repercussions on your financial well-being, including your credit score. While the act of divorce itself doesn’t directly impact your credit score, the changes it brings to your financial landscape can … Read more
What Happens When You Go Over Your Credit Limit? The maximum amount of credit your issuer will give you is known as your credit card limit. Exceeding this limit can have significant consequences, impacting your finances and credit score. Let’s examine some possible outcomes and practical approaches to handling this predicament. Consequences of Exceeding Your … Read more