Bad Credit Forum- Re: Best Way To Pay Down Debt and Raise Credit ScoreAlso be sure to check your credit report for errors. They really do happen. I had 2 entries for one credit card, for example, which made it look like I had more outstanding credit than I did. I disputed it, and it was quickly fixed. […]
- Re: Best Way To Pay Down Debt and Raise Credit ScoreThere is a decent article on credit card payoff strategies: http://www.over50web.net/finance/save-money-finance/credit-card-payoff-strategies/ The comments actually give some good information. Basically, you should pick a stategy that works well for you. That said, I do believe that paying off cards that are close to their limits will have a quicker impact o […]
- Re: Renting With Poor CreditAbsolutely, your best bet is to long for somebody who needs a room mate in their own home - if you need very cheap rent, there are older people who need some help around the house or transportation - and they may be willing to give you a big break on rent (or even free rent) in exchange for some services. Of course, you have to be responsible and do what you […]
- Re: Best Way To Pay Down Debt and Raise Credit Score
Monthly Archives: September 2008
Financial Crisis and Employment
Have you wondered how the current financial crisis will affect the job market in the US? I imagine that plenty of people on Wall Street will be losing their jobs soon. But will the jobs melt in other places besides lower Manhatten.
More than 600,000 jobs have been lost so far in 2008. That’s so far, because of course, we still have 3 months to go. The government also reported that 9.4 million Americans are looking for work.
Both job hunters and employment agencies are reporting a much more competitive job market these days. Of course this all comes as food and fuel prices seem to be rising daily.
Posted in Unemployment
Tagged employment, financial crisis, job loss, jobs, Unemployment
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Is the Government Bailout of Financials a Good Thing?
Wow, this has been an eventful time for the American taxpayer, hasn’t it? Those of us in the Gulf, started to get our power back to find out that the economy was in more of a mess than it even was in before we greeted Ike. The government is planning on spending a few thousand dollars per tax payer (makes the rebate seem puny, huh?) to bail out large financial companies. So is the government bailout a good thing?
Pros: If the AIG gamble succeeds, we can prevent more financial disaster, and even turn a profit. The “experts” also contend that AIG is just too big to faile, and a collapse will cause a worldwide problem.
Explain Credit Scores
Explaining Your Credit Score
Most of us know that our credit is rated, and that credit rating will determine what sort of interest rates we pay for car loans, home mortgages, and credit card balances. Of course, a credit score will determine our ability even get credit at all! But beyond that, many consumers really do not understand what a credit score means. The thing is, the key to improving your credit score, is understanding it, and that is why we want to explain your credit score.
Possible Advantages of Freddie Mac / Fannie Mae Takeover
Possible Benefits of the Fannie Mae / Freddie Mac Takeover
I posted an article: Who Does The Mortgage Giant Bailout Help?
Since then, I’ve had some time to look at the issue a bit more, and here are some possible benefits to home buyers who want a mortgage:
- Fannie and Freddie will now be primarily focused on proactively working to increase the availability of mortgage financing
- Re-evaluation of Fannie and Freddie fees with an eye towards affordability
- Possible reduction of mortgage rates for fixed-rate non-jumbo mortgages
- Increased availability of financing for consumers with good credit.
Layoff Mortgage and Credit Protection
Note: All current PaycheckGuardian Members keep their protection, but no new consumers are being accepted at this time. Sorry.Supplemental Unemployment Insurance Pays Cash
If you are unemployed, how will you pay your bills? The average weekly state unemployment payment is less than $400. Will that cover your bills, utilities, groceries, and mortgage? In fact, the most common reason that mortgage get behind is because of a loss of income.
