Are you on the Credit Bureau’s Blacklist?

Let’s say you are what most people would consider a good person. You help out in the community, volunteer to help others and even show up on the front row for church every Sunday. You recently applied for a home loan and to your surprise were denied. How could this be? You’re a good guy or gal, and deserve this loan, right? Could you be on the credit bureaus blacklist?Since there is no such thing as a “blacklist” within the credit scoring system the answer is no. You are not on a blacklist. Your credit history are based on nothing more than factual data that lenders have provided about your pay habits.Your fico score has absolutely nothing to do with your age, marital status, race, sex, nationality or religious beliefs. Your occupation and length of time on the job also have nothing to do with how your credit score is calculated. Only information present on your actual credit report make up your credit score.Pretend for a moment that you are an underwriter working through a mortgage loan application. What would be of the most importance to you? Ironically, underwriters look at the same thing that the credit bureaus do.1. Payment […]

Full Article At: KnowHow-Now.com Articles

Bookmark to: