Comments on: FICO Reveals Points Cost to Credit Scores

By: dajgocuide

dajgocuide — Fri, 18 Nov 2011 10:29:56 +0000

By: Lyddy

Lyddy — Wed, 16 Nov 2011 05:19:45 +0000

Thanks for sharing. What a pesluare to read!

By: Philip Tirone

Philip Tirone — Mon, 21 Dec 2009 23:55:47 +0000

Steve – I have learned one thing by studying the credit system over the past 12 years, it makes no sense. This is why I’m not going to stop until I get the credit laws changed to be more fair to conusmer.

Please share your frustration with the credit laws here….
http://www.philiptirone.com/category/change-the-credit-laws/

By: Philip Tirone

Philip Tirone — Mon, 21 Dec 2009 23:53:41 +0000

I would attempt (attempt is the optimal word) to negociate a clean payment history upon completion of the loan modification. I have heard this happen one time, so it must be happening below the radar screen. Explain to them the problems you faced, the more detailed explation the better. If that doesn’t work, attend one of my teleseminars and I explain what to do after a loan modificaiton or foreclosure.

Anyone who is reading this – if you want a free login, email Michelle at Michelle@themeg.net, for login info.

By: David Kamau

David Kamau — Sat, 19 Dec 2009 18:48:52 +0000

The credit scoring system has never been fair. Why? Because it does not consider life’s circumstances that may well beyond one’s control. A person who racks up medical bills (and who has maintained good payment history otherwise) gets treated the same way as one who racks up bills to maintain a drug habit.

By: renu jerath

renu jerath — Sat, 19 Dec 2009 03:15:55 +0000

If you are getting a Loan MOd or working out a deal with the lender under the affordable home program. & the credit bereau’s are showing you delinquent or in foreclosure. A deciscion has not been made by the lender yet, is there anything you can do to improve your score or to remove these premature delinqencies. Thanks

By: steve

steve — Sat, 19 Dec 2009 01:26:12 +0000

I should add that I now have no incentive to main punctuality. So just what is their logic?

By: steve

steve — Sat, 19 Dec 2009 01:25:10 +0000

After 43 years of perfect performance, I missed my first mortgage payment. I had never been late on anything. With that first miss, my credit score dropped over 200 points.

By: Bev Willard

Bev Willard — Fri, 18 Dec 2009 21:07:41 +0000

I’m a REALTOR who has often wondered about the impact of certain actions on credit scores. This explanation is readibly understood. Thanks for being straightforward.

I’m not certain that fairness is an issue with DICO scores; it seems that negative impacts are to the advantage of lenders. Perhaps that’s the real reason behind all this.

bevW