With Thanksgiving upon us, couldn’t help but pass along this holiday anecdote:
A lady was picking through the frozen turkeys at the supermarket, but couldn't find one big enough for her family. She asked a stock boy, "Do these turkeys get any bigger?"
The stock boy replied, "No ma'am, they're dead."
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As promised, here are some other special factors which can weigh on your FICO score:
· Current income
· Employment
· Any money owed because of a court judgment or tax lien
· Having one or more consumer finance credit accounts
· The number of recent credit checks (credit inquiries that were made yourself to check your credit, by your employer for employee verification or by companies initiating prescreened offers of credit or insurance do not have any impact on your credit score)
It's amazing what changes the credit score. I've been watching mine on a monthly basis and when I make even a meager $30 charge for something, I'll get an alert that one of credit card balances has increased significantly!!
It is extremely important that everyone out there take responsibility to monitor their reports and scores. Credit scores can be adversely affected if the information in a credit report is not updated by a lender. Lenders and others that furnish credit information to a credit bureau usually update it every month. If they don’t report to the bureau that debt has been reduced or paid off, it will stay on the credit report until you find the error and report the updated status yourself!
Contact me for any of your real estate needs and have a HAPPY THANKSGIVING ! dgreco@kw.com
