Subscribe http://www.youtube.com/subscription_c... For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditg... Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy...
Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pinterest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website...
Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pintrest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website ...
A good friend of mine call me last week, he told me that his father had passed away. He wanted to make sure that his father’s credit profile was appropriately handled. Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page...
Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditguytv Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pintrest board http://www.pinterest.com/thecreditguy All Material included in the presentation, class, video or website ...
Medical Debt Advanced Strategies to get it removed! Subscribe http://www.youtube.com/subscription_c... For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thecreditg... Follow me on Twitter at http://www.twitter.com/TheCreditGuyTV Like the Facebook Page http://www.facebook.com/TheCreditGuy Follow my Pintrest board http://www.pinterest.com/thecreditguy All Material included in the presentation, cl...
I believe so, I went to the hospital in 2012 and my insurance paid my bill in full and never got a bill. In 2014, I went back to the hospital. At that time I was informed about two old accounts for small amounts of money that were sold to collection companies. This has hurt my credit score. Subscribe http://www.youtube.com/subscription_c... For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com/in/thec...
Question: I was reviewing my credit report and I decided on disputing something negative. The result was that it was deleted however that same negative account is on the other two repositories. Will they tell the other two repositories and how long should long would one have to wait for the update. Subscribe http://www.youtube.com/subscription_c... For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.linkedin.com...
This week we’re going to talk more about trended credit data in 2017. Trended credit data is really huge in the credit industry. People don’t realize it is has been around for going on six months now and it impacts everyone who applies for a mortgage through Fannie Mae right now Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://www.lin...
Young people go to college and they take out all this debt at a young age they don't realize, the choices that they're making. More importantly, and what it is like to live with it. If you become a doctor you could wind up with two hundred thousand or a quarter-million dollars in debt. Subscribe http://www.youtube.com/subscription_center?add_user=sullythecreditguy For more free information on credit and credit scoring check out my blog at http://www.thecreditguy.tv Join me on LinkedIn at http://...
This week I talk with Kevin Elsenheimer, the executive director of Michigan State Housing Development Authority. http://www.michigan.gov/ownmihome Dave: Kevin thank you for being here I wanted to let people know a little bit about MSHDA and what is MSHDA. What function is it serving here in Michigan? Kevin: MSHDA is the state’s housing bank basically we are part of state government but we’re a little bit different because we can provide loans to individuals. The Constitution says the state of Mi...
Big Changes are coming to Rural Development October 1st 2016. Mike Archer and I get together to talk about them in this interview. Dave: I wanted to talk about the changes coming up next week with the Rural Development loans, can you tell us a little bit about RT loans? Mike: Absolutely! A Rural Development loan is one of our favorite products here in Jackson. We are rural community and RD is designed for people purchasing homes this type of community. It is a fantastic product. It's a 0% down; ...
I have transitioned out of the Tiny house and I am now staying at an AirBNB. I wanted to get some advise on how to start making some money on the side with AirBnB. Dave: …with Airbnb proprietor Sharon , I am actually staying with Sharon here in North Muskegon. A lot of people try to repair their credit and what they struggle with is raising money. I think Airbnb is a great way for consumers to raise money and then pay off some of their bills to improve their credit score. Sharon what was it like...
Remove Collections using the National Consumer Assistance Plan . In March of 2015 the New York Attorney General entered into an agreement with the three major repositories. They agreed that changes would be made regarding how some debts would show up on consumers credit reports. One of those things was how a debt was showing up without the consumer actually signing for that debt. Meaning that if a consumer received a parking ticket those things were showing up on consumers credit reports. That’s...
Trended Credit Data unintended consequences. Fannie Mae has postponed(until further notice) the new automated underwriting system DU 10, including introducing Trended Credit Data. Fannie Mae was expecting all three of the repositories to be ready with their trended credit data. Unfortunately, Experian® is not ready with their account history. Fannie initially considered moving forward using the old FICO®5 scoring model with Trended, but that is now on hold. Trended credit data is an important im...
Fannie Mae is making more announcements on how they’re going to handle trended credit data. Trended Credit Data live June 25th, The repositories TransUnion and Equifax have introduced the trended credit data on all credit reports, Experian has not. I believe that’s why Fannie is delaying the roll-out of the credit scores that include this information; FICO® 9 scores and Vantage 4.0 http://thecreditguy.tv/trended-credit-data-live/
Michigan’s Big Show Interview I was invited on a Lansing radio show last week. This was the interview… Michael Patrick Shields: What if your credit score was 1000? If I had a credit score like that could you get anything you wanted? The Credit Guy: Well the scoring model does not go up that high, anything above 760 you can have whatever you want and you get the best rate available. Michael Patrick Shields: You can imagine why people are disturbed by this credit number because when you and I were...
Tiny Credit Tip. Will reactivating an old account help my credit score? I really do love it here in the tiny house. This week I will show you the bathroom and the bedroom today in episode number four. I had a question come through on facebook about a borrower that a mortgage lender was working with, and the borrower had no revolving accounts except for one that had gone dormant. The loan officer’s question was, “If the borrower reactivated an old account, would the borrower see a boost in their ...
I want to talk about is trended credit reports. Fannie Mae has been working on trended credit reports for two years now. In the past when consumers make their payments on time and that is all that is recorded on their credit profile. The repositories only recorded if the payment was on time, they did not record any other information. The repositories didn’t record how much consumers owed, what was the high credit, if they paid more than the minimum payment. This is what trended credit reports wi...
A lot of people think budgeting when they think about improving their credit. They cut down on expenses and take all the fun out of their budget. I just really never liked that strategy, I always preferred looking for ways to save money on your regular bills. That’s one thing that I put into the six steps to better credit score. I put a bonus at every step with one way you could save money. Then use that money that you saved to pay down your bills every month. Go over to www.getloanready.com to ...
Credit score impact of ignoring sold derogatory accounts. What is the impact of a sold derogatory on your credit score? The CFPB has been working very diligently in the credit industry and they actually have been doing some good things. One of the complaints that the CFPB is getting are how sold derogatory accounts are handled. Currently, when a collection is sold, that collection should be reported as zero. The balance would be transfer to the new reporting company. What the CFPB is putting pre...
Here at the tiny house again, I am going to show the living room today. First I wanted to talk about what North Carolina did recently . They passed a law that allowed parents to freeze their kids credit profile before they turn 18. In the past you really did not have the ability to freeze a child’s credit report until they were 18, officially, kids don’t have a credit profile. North Carolina passes law to change that. Now people who live in North Carolina can freeze their child’s credit report. ...
Warning about Small Banks Dave Sullivan here with Blog number two from the tiny house series. I’m here in Muskegon and things went very well at the credit union today. We’ve got all of the social media website set up, we are the only credit union in Michigan with all of social media accounts set up. Tomorrow we’re going to be talking about getting a spot on a local radio channel to do weekly show and we’re talking about reporting to all three repositories, it is very common for small credit unio...
What is the most important thing to do before you go to college? I had a friend going into their second term at Kettering University and they needed to apply for a student loan. The loan that they were applying for consider credit scores. Many times young adults who are in their first year of college have not built up a sufficient credit history for a good credit score. College loans are based on the credit history of the student not the parents. The most important thing students should do befor...
Risked Based Pricing on Cellular Contracts in 2016 Risk-based pricing is coming to your cell phone! The Federal Trade Commission recently fined cell phone provider Sprint three million dollars because they failed to disclose they were using risk-based pricing with credit scores when offering cell phone service. You already know credit scores are used for mortgages, insurance and by the IRS during during an audit, along with most other loans. Now credit scores are also used by cellphone companies...
Commercial Lender Training provided by the Small Business Finance Institute with Founder Charles Green Interview. Hi everybody Dave Sullivan here for the Credit Guy TV with special guest... Charles Green of the Small Business Finances Institute Dave: Charles thanks for reaching out to me on LinkedIn, I have really enjoyed our relationship. You have found a niche, something that the commercial banking industry needs. Tell me a little bit more about that. Charles: Dave, I have been a career banker...
I get a lot of questions about how long will a collection stay on a credit report? It is required under the Fair Credit Reporting Act to be removed seven years after the first delinquency date. The first time that a borrower was late that resulted in that becoming a charge off or sold to a collection company. The date of first delinquency is the starting point. Seven years from the date of first delinquency is when that account will fall off. It’s not based on when the creditor wrote the account...
