A USA Today article is reporting that lenders are dropping credit lines on high FICO score borrowers at more than twice the rate of high-risk borrowers. Those borrowers with higher credit scores tend to carry a lower balance (earning the lender less interest) and pay on time (earning the lender less in penalties and fees). The data is showing that lenders would rather take …
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Posted under General
Written by Matt on April 5, 2009
The LA Times is reporting that Experian will stop selling FICO scores to individual consumers. FICO is used by the majority of lenders to determine the credit-worthiness of customers. Many financial advisors recommend getting your three FICO scores before negotiating loan terms for large items, such as a home or automobile.
Experian will continue to sell its propritary PLUS score, as well as VantageScore, …
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Posted under News
Written by Matt on February 13, 2009
You’ll find that the theme here when it comes to this blog is that I press personal responsibility. For me, that means that you are the one responsibile for how you decide to spend your money. If you cannot afford something, you should not purchase it.
The Fannie Mae/Freddie Mac situation is largely due to people taking out loans they should not have. People were given loans that they could barely pay off …
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Posted under Spending
Written by Matt on October 3, 2008
