Silver: Lender's Report, Lender's Scores
& Analysis

Only $59.95
Get Your . . .
  1. FICO® Credit Scores Lenders use
  2. Complete Credit Score Analysis
  3. Potential Mortgage and Auto Loan Qualifications

Gold: Lender's Report, Lender's Scores, Analysis
& Steps to Score Improvement

Only $79.95
Get Your . . .
  1. FICO® Credit Scores Lenders use
  2. Complete Credit Score Analysis
  3. Potential Mortgage and Auto Loan Qualifications
  4. Personalized Solutions to Higher FICO® Credit Scores

My Credit Plan Blog

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Latest News and Updates

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Too many “uninformed” loan officers have told thousands of homeowners and media that skipping your mortgage payment (from the coronavirus) will not impact your credit. The only basis for this statement comes from a few politicians and some loan officers who have said that since lenders will not report 30-day or more late payments to the credit bureaus, skipping payments will not lower your scores. They have little understanding about FICO Scores and no authority to speak for lenders. In his report, KUTV’s Michael Locklear (CBS - Salt Lake City, Utah) identifies the potential dangers from skipping your mortgage payments.

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Several car dealerships are offering deferred car payments for up to six months. Sounds like an opportunity for many to buy a new car or truck – right? Purchase a new car and no payments for six months. How can anything go wrong or put anyone in a bad financial situation? Let’s take a look behind the scenes.

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The fallout for housing and for mortgage continues to change at a quick pace from the Coronavirus. Many are catching their breath from the rapid changes in last couple of weeks. The impact from these changes will be felt primarily for everyone, but especially for those with FICO® scores below 680. All prospective home buyers need to know this information.

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Credit score requirements for mortgages, auto loans, credit cards and other loans are all going up. For those who have excellent FICO scores, there is not a lot to be concerned about. For those with less than excellent FICO scores, the financial impact is even more astonishing. What credit score improvement program gets superior results? Let’s go through them.