30 days past due
What is Revolving Debt?
Although you have to pay back any money you owe, not all debt is created equal. Thereâs installment debt, like an auto loan, mortgage, or student loan, which is paid off in installments. Then thereâs revolving debt, which applies to things like credit cards and home equity lines of credit. Non-revolving and revolving debt affect […]
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What Is A “derogatory” Mark On Your Credit Report?
A derogatory mark can have a major impact on your credit report, and consequently, your credit score. Both of these are major considerations anytime you go to apply for a loan or credit card, so…
The post What Is a “Derogatory” Mark on Your Credit Report? appeared first on Crediful.
How to Avoid Used Car Loan Gotchas
Used cars have always appealed to the budget-conscious shoppers because of their low prices, but there’s always been a drawback — used car loans. Until recently, bank loans for used cars were tricky to get, and were much more expensive than new car loans. But that’s changing. With car dealers successfully edging banks out of… Read More
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Refi Demand Staying Strong Despite Rising Rates
Posted To: MND NewsWire
The current Mortgage Monitor from Black Knight looks at the recent small increases in mortgage rates and their potential impact on home sales. The company says that Treasury yields have been rising with the 10-year up nearly 0.25 percent just since the January 5 Georgia senatorial runoff. While the spread between it and the 30-year mortgage rates absorbed part of the increase , mortgages did subsequently rise by about 1/8 th of a point. The January spike wasn’t an isolated event, the 10-year yield had eased up 40 basis points over the last five months of 2020. “Should yields rise further in coming months, they may begin to impact 30-year rates more directly, although the Fed’s bond buying efforts are expected to insulate the mortgage market to some degree,” the report says. The 1/8 th point…(read more)
How Long Do Hard Inquiries Stay on Your Credit Report?
Your credit report offers valuable insight into your financial history and affects most of your financial future. Everything from whether you get approved for a mortgage to what your credit card interest rate will be balances on your credit score. Negative information on your credit report can be detrimental for years. Wonder how long hard inquiries stay on your credit report?… Read More
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How Much Does One Late Payment Affect Credit Scores?
If youâre serious about your credit score, you need to pay your bills on time. One late payment can have a devastating effect on your credit score. Hereâs what you need to know about late payments and your credit score, and what you can do to protect yourself. How Late Payments Affect Credit Scores Your… Read More
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Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance
The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back on track. The new program, known as the COVID-19 Veterans Assistance Partial Claim Payment program, or COVID-VAPCP for kind of shorter, somewhat mirrors existing programs offered by the FHA and [&hellip
The post Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance first appeared on The Truth About Mortgage.
How Late Can You Be on a Car Payment, Mortgage or Other Bill?
It’s always frustrating to come across a bill and realize it was due yesterdayâor last week. If you’re late on a payment or if you miss it completely, you could end up paying late fees and taking a hit on your credit score. It can be especially difficult if you want to apply for a… Read More
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