1,502,998
I've been following this for a little bit. Basically it can make bad scores worse and good scores better.
What worries me, is that Sen. Warren opposed a law that would prevent lenders from using your political affiliation, religious beliefs and social media history IN YOUR SCORE. One step closer to a version of the Chinese "Social Credit Score"... and this was just a couple weeks ago!
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Doug Dawes
Topsfield, MA
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Candice A. Donofrio
Fort Mohave, AZ
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Carol Williams
Wenatchee, WA
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Endre Barath, Jr.
Beverly Hills, CA
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Bob "RealMan" Timm
Minot, ND
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
2,390,620
As someone who believes in financial responsibility I don't see this as a bad thing Wanda Kubat-Nerdin - Wanda Can! Those of us who are financially responsible are the ones who pay for those who are not. Hopefully this may stop some who "game" the system. One thing I learned from our oil boom is that there are a lot of people who game the system. Many, and I do mean many, oil workers who came here from other parts of the country purchased homes here treating them as if they were renting, fully intending to let them go back to the bank when they would return to their home State and the houses they left there. The courts do little to nothing about it because "after all they need a place to live" so there is no penalty levied against them that would endanger them losing the original home from which they came from. If it were up to me they should have that home taken from them and be given a cardboard box to live in (or a jail cell for screwing the lenders they defrauded).
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Endre Barath, Jr.
Beverly Hills, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
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Debe Maxwell, CRS
Charlotte, NC
4,456,506
Seriously we do not need to make anything more difficult...in my market it is really getting hard to get a loan and that is because of the outrageous prices we have....
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Wanda Kubat-Nerdin - W...
St. George, UT
4,572,183
Definitely can't(so I won't) top Alexandra's Ron and Alexandra Seigel answer where she mentioned and paid tribute to Roseanne Rosannadanna. Thanks for the good memories. There's always something
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Doug Dawes
Topsfield, MA
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Anna "Banana" Kruchten
Phoenix, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Wanda Kubat-Nerdin - W...
St. George, UT
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Ron and Alexandra Seigel
Carpinteria, CA
1,543,662
I heard about it last year, but I'll check out the article.
I think Jason E. Gordon shared this info with me at one of our meetings.
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Doug Dawes
Topsfield, MA
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Jason E. Gordon
San Diego, CA
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Michael Jacobs
Pasadena, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
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Thomas J. Nelson, REAL...
La Jolla, CA
1,844,291
yes, it's awful. I read it in AR Peeps.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Wanda Kubat-Nerdin - W...
St. George, UT
5,230,062
Don't you love a sensationalistic title?!
I can honestly say that I have worked with less than a handful of buyers that a 20-point decrease in their score would matter. But, they also state that some consumer credit scores could RISE 20 points!
So, in my opinion, we're back at square-one, right?!!
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Doug Dawes
Topsfield, MA
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Wanda Kubat-Nerdin - W...
St. George, UT
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Michael Jacobs
Pasadena, CA
5,772,575
Wanda,
This reminds me of a skit on Saturday Night Live, when Gilda Radner used to say, "It is always something, it it isn't one thing, it is another!". And I say, there will be work-arounds...there always are! LOL A
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Doug Dawes
Topsfield, MA
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Anna "Banana" Kruchten
Phoenix, AZ
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
5,049,158
Thanks, I hadn't seen it but heard some changes were coming. As Ron and Alexandra Seigel said, Roseann Roseannadanna's catch phrase is right on target. Just watched a movie the other night about Gilda Radner - the world lost a wonderful comedienne to a horrible disease!
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Wanda Kubat-Nerdin - W...
St. George, UT
378,517
Read information about it from our preferred lender a couple of weeks ago.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Jerrill Ewing
Eatonton, GA
3,587,960
I didn't read that article but rather heard it on Fox Business. They're looking at 'how' people use the credit instead of the number. For instance some folks may charge a lot on a card and they also pay it off every month. They use the card because they get perks or money back for using it. These folks numbers will likely go up, if they have room to go up. Going the opposite direction those that don't use credit wisely the scores will most likely go down.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Endre Barath, Jr.
Beverly Hills, CA
3,345,091
Change is a constant in life. I had not read that, Wanda.
I'm receiving lots of SPAM emails regarding stated income loans.
As the pendulum swings ...
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Endre Barath, Jr.
Beverly Hills, CA
1,052,211
Oh great. So they'll ding me for my shopping problem.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Endre Barath, Jr.
Beverly Hills, CA
231,948
And I thought I was up to speed in following the news but I guess not...
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
6,393,404
Nope, I dont pay much attention to credit scores.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,196,798
Not that article but another. They will be looking at your collection of debt to see if it's increasing. I don't think that's a good thing since I will be purchasing a car this year and they cost more than my friends first home
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
1,311,397
I have seen and heard of the changes elsewhere. Nothing earth shaking as far I can see.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
7,836,134
Thanks for the link.
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
3,416,038
Speaking to my favorite loan officers, the simple answer is those who pay on time will get better, those who ae always late will get worse.
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND