Your debt-to-income ratio (DTI) is an important part of how mortgage lenders evaluate your financial health. DTI ratios represent how much debt you have compared to your income. It’s important to know your DTI as you consider buying a home. If you have a high amount of debt compared to income, consider `lowering your debt … Read more
The steps you take to improve your credit score will depend on your unique credit profile. In general, its important to understand the factors that influence your score, including your payment history, amounts owed, length of credit history, credit mix and new credit. You can raise your credit score in a number of ways, such … Read more
Purchasing your first home is an exciting milestone. But having less-than-ideal credit can make it feel out of reach. If your credit score is 551 or lower you may be wondering if homeownership is possible. The good news is – yes you can buy a house with a very low credit score. However it requires … Read more
Most likely, one of the last things you want to think about when a family member dies is taking on their debt. But debt collectors could make this difficult situation even worse by contacting you. If youâre not sure how debt inheritance works or how to handle financial matters after a death in the family, … Read more
You can sell a car with an existing loan by first determining your carâs value, contacting your lender and calculating your equity. Then list your car, finalize the price and pay off the loan. So, you want a new car but still owe money on your current one. Not a problem. You can sell your … Read more
Your credit score is one of the best ways to tell how healthy your finances are, and lenders use it to decide if you can get loans, how much interest you can pay, and other things. The FICO score, the most widely used credit score, ranges from 300 to 850, and many people view a … Read more
Most mortgages in the United States have a repayment term of 30 years, but you can pay off a home loan in less time. Short-term mortgage loans are repaid in 15 years or less. Even though the monthly payment is higher, you can own your home faster and save a lot of money on interest. … Read more
Most people who buy a home take out a mortgage to finance the purchase. There is an approval process called underwriting that stands between a borrower wanting a property and them being able to pay for it. Letâs dive in and learn more about underwriting and how it works. Underwriting is the process your mortgage … Read more
A bailiff (‘enforcement agent’) may visit your home if you do not pay your debts – such as Council Tax bills, parking fines, court fines and county court, high court or family court judgments. A bailiff may also visit your home for other reasons, for example to serve court documents or give notices and summons. … Read more
Having a closed account on your credit report can hurt your credit score. Because of this, you may be wondering if you can reopen a closed account and get it taken off your report. Yes, you can sometimes reopen an account that has been closed. But this isn’t always the best choice, and there are … Read more