PrincessB asked:


What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for $160,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at $162K, I am paying over $5K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing?

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tzarinasdance asked:


I have heard that a collection on your credit report can drop your score as much as 80pts… Is this true? I am looking for a website with a breakdown of how much say a late payment on a credit card will drop your score

Katherine

Kayla is fine now =) asked:


Hey everyone- I have another question about credit. I’ve just paid off 2 major things on my credit report and mailed them to all three credit companies. My question is, does anyone know if this makes your score go up? And when you pay your car on time, does it automatically go up? If so how much?. Any answers will help I’m trying to improve my credit..

Stanley

Taketwoasprin C asked:


Is it unfair to score peoples credit when banks are now in trouble and defaulting? Isn’t that the pot calling the kettle black?

Katherine

CambridgeCredit asked:

Learn Now or Pay Later is a weekly personal finance series produced by Cambridge Credit Counseling Corp. The goal of this educational series is to better prepare the public to deal with matters pertaining to credit, debt and money management. This week’s webisode features Christopher Viale, President and CEO, discussing the components of an individuals FICO score and how changes in 2008 will affect consumers.

Rick