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& Analysis

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  2. Complete Credit Score Analysis
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Gold: Lender's Report, Lender's Scores, Analysis
& Steps to Score Improvement

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  2. Complete Credit Score Analysis
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  4. Personalized Solutions to Higher FICO® Credit Scores

My Credit Plan Blog

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Latest News and Updates

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Federal rent assistance for millions of Americans comes to an end starting May 1, 2022. For many, the challenges of affordability and of having to start making payments that have increased exponentially since the start of the pandemic, are way beyond reach. So, what is going to happen?

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The three major credit bureaus, Experian®, Equifax®, and TransUnion® have marketed different credit monitoring tools to help you track the credit information in your credit report – as long as you pay something. But, why don’t the credit bureaus do it? It is their information. I’ll explain.

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Over the last 15 years, the credit score has become a vital part of every consumer’s financial life. Good or bad, politicians have recently got more involved to have their impact on consumer’s credit scores. As one observer correctly pointed it out, those with higher credit ratings are losing out while those with lower credit scores are benefitting. Let's take a look.

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Why would an active duty soldier or veteran pay almost $20,000 more than necessary on a mortgage? One mortgage company, NewDay USA, advertises that servicemen and women may want to add a pool for the grandkids, or consolidate some expenses. They advertise to those with VA benefits (soldiers and veterans) to utilize NewDay USA VA 100 Cash Out loan “…to help more veterans.” When a potential applicant looks at the numbers however, there are several costly red flags to what NewDay USA is proposing.

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More and more consumers are realizing that their credit impacts their insurance premiums on auto, home, life, and renter’s insurance. However, most consumers do not know how insurance companies utilize credit for their analysis. This is where you can save some money if you do some follow up.

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There is one way lenders make more interest on you and it can cost you lots of money - even if you make extra principal payments.

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When reviewing a credit situation or teaching a class on credit scores, it is always interesting to get feedback. People always state that they know a lot and are an “A” student in understanding their credit score. After a review is complete however, they quickly discover that many important points have been completely overlooked, and their credit score understanding is more like a “D”. As one professor put it, “The vast majority of individuals do not even have any fathom idea of all the factors impacting their credit scores.”

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Quite often, I get an email or text from someone asking me to validate some information that has come out from a news story or on the internet. It is quite rare to find a story or article on the internet that is accurate.

Knowing the difference between a credit suggestion and a credit solution can save you a lot of money. It can mean the difference between a credit score increase say 3 or 4 points, while a credit score solution can increase your scores at least 30 to 40 points in most situations.

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The housing market in many parts of the country is really hot. Home values have increased at levels never before seen. Interest rates have also increased, raising the borrowing costs for those looking to purchase a new home. The principal and interest payments have increased an alarming 14% in the last 12 months.