August 2014

Found 1 blog entry for August 2014.

I am happy to hear this news for our buyers who get detained in FICO credit jail - barred from buying because of this issue. This just in from David Haley of Mortgage Today:
 
Fair Isaac announced it is changing how credit scores are calculated. It will stop including any record of a consumer failing to pay a bill if it has been paid or settled with a collection agency, and adding less weight to unpaid medical bills that are in collection.

David goes on to explain...WHAT IS FICO?
- The FICO score is the most popular credit score model in the country. It's a statistical calculation based on the information in your credit profile.
- FICO reports several types of scores. Each is tailored for a different purpose, such as a credit card, personal, installment, auto

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