All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA
Fact: Over 150 million Americans have credit report with the three major credit reporting agencies. Approximately 50 million of these credit reports contain errors, many of which are inaccurate. Do you know whats on your credit report?If youve ever applied for a charge account, a personal loan, ... more...

Second Mortgage a Good First Step
A second mortgage can be the first step to climbing out of debt, especially for homeowners who have bad credit. A second mortgage is a loan taken out in second position on a property that already has a mortgage. There are fixed-rate loans, adjustable-rate loans and home equity lines of credit (also ... more...

7 Consumer Credit Laws You Should Know if You are Trying to Repair Your Credit
There are seven consumer credit laws you should be aware when dealing with your credit.1. The Truth in Lending ActThe customer had to be told the true cost of borrowing, so they could figure out exactly what the charges would be. You must be informed, in writing of the finance charge and the APR ... more...

Insurance Credit Scoring: An Ethical Issue
The issue at hand is the use of a consumers credit score as an underwriting tool for auto insurance rates. What is a credit score or FICO score? A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their ... more...

Utah Mortgage Broker
As a Utah resident it should not shock anyone that I have need of a Utah mortgage broker. Much like being born, eating, and dying, sooner or later we all will need a mortgage broker to help us get a house of our own. Getting a mortgage is an intimidating process that will effect your financial ... more...

Credit Scores and Loan Applications
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit ReportIt can make a difference of up to 18% in loan repayment costs. For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score, 760-850, will pay 5.59%, or $860 per month, while ... more...

Mortgage Glossary - A Glossary of Mortgage Terms You Should Know
Acceleration Clause A clause in a mortgage defining that the entire outstanding balance can become due and payable should mortgage default occur. If the entire balance is not paid, the property will be foreclosed.Adjustable Rate Mortgage (ARM) Mortgage with interest rates that may be adjusted by ... more...

Home Equity Loan Improvements
There's more Regulation Z compliance on the way, courtesy of the Home Equity Loan Consumer Protection Act. This fall banks will have to implement the new home equity loan disclosure rules the Federal Reserve Board was required to issue under the act.The Federal Reserve released the final version of ... more...

RESPA: The Real Estate Settlement Procedures Act
The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. One of its purposes is to help consumers become better shoppers for settlement services. Another purpose is to eliminate kickbacks and referral fees that increase unnecessarily the costs of ... more...