RSSYour FICO Score and Getting a Home Loan with Poor Credit
Dec 20
Home Loan Amount Of Time, Bad Debt, Bankruptcies, Blemishes, Credit History, Credit Information, Credit Repair, Credit Score, Home Loan, Late Payments, Lenders, Money, Poor Credit, Raising Your Fico Score No Comments
Your FICO score is a credit score used by lenders to determine how risky it is to loan you money. The lower your FICO score is, the harder it will be for you to get approved. This article offers information on how your FICO score affects you, as well as information on getting a home loan with poor credit.
Your FICO score is determined by your borrowing record. Things that affect your FICO score include the amount of time a credit account has been established, the amount of credit used vs. the amount of credit available, late payments, and negative credit information, such as bankruptcies, collection action, and bad debt write-offs. With just a few blemishes in your credit history, your FICO score can be seriously tarnished.
Raising Your FICO Score
There is no way to increase your FICO score overnight. Credit repair takes time and serious effort. However, if you need to raise your FICO score as fast as possible, the following tips will help: