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Reap the fruits of a good credit score while applying for Home Loans

It is after months of savings and years of aspiration that you finally decide to purchase your dream house. And if you are living in any of the metros or tier I cities in India, taking a house loan is unavoidable if you belong to the mid-income group. This again entails a thousand odd processes and acute planning down to the finest detail. In the entire procedure, buying the house at the earliest remains your top priority. But what will you do if your loan is rejected even after providing all the credentials and documents? It is only natural to get disappointed.
However, if you try to find out the actual reason of rejection of the loan, you might be surprise to know that it is due to your low credit score. To begin with, a credit score is basically a number that indicates the credit worthiness of any individual based on a thorough assessment of the individual’s credit history so far. This credit score is collected and collated by credit bureaus – mainly Cibil and Equifax – and they in turn get hold of the information from data furnishers that might include creditors, lenders and utilities, debt collection agencies that a person has had a relationship or experience with.
Now that you are aware of what a credit score is, you should also know how it is intricately related to your day to day life and why it is important to maintain a healthy credit report card. If the credit report is satisfactory i.e. you have commendable credit points, only then will the bank approve your loan. Not only in the case of loans, but also while applying for a telephone connection, applying for jobs, insurance premia, rentals and a lot more.
Essentially, if you can boost of a healthy credit score – ranging in and around 700 to 900 points – chances are very good that you might end up saving thousands or even lacs of rupees in the form of interest. This is mainly because banks provide succor by offering credit facilities at lower rates of interest. The Cibil score also enables the bank to find out who actually qualifies for a loan and at what credit limits. In other words, by referring to the Cibil report, they can easily analysis which customers will prove instrumental in bringing in more revenue for the bank.
In line with being a credit conscious person, you should also keep in mind that your name does not feature in the defaulters lists. If it does, then it is considered as a discouraging sign which will take dedicated effort to increase your points and bring your score to normal. Also, it is not necessary that timely repayment of loan is the only criteria to avoid being featured on the defaulters list; there are other issue too that come to play.
There are credit health improvement companies that help you in growing your credit points to maximum. One such company is Credit Sudhaar, a reliable and notable company that helps you remain credit healthy. They have credit specialists and certified counselors whose expertise lies in interpreting your credit report, identifying the issues with the report, comprehensive analysis and then organizing a step by step plan to improve your credit health. Try out their outstanding services and make the most of higher credit points.
So now that you have seen a broader and clearer picture, you will be more aware from now on to remain healthy – credit wise. Maintaining a healthy credit regime can only land you on a safer side besides earning you more money in your bank account. You can also up your credit score by avoiding too much loans and credit cards because mongering for them will give an impression that you are a credit hungry person for whom ‘more is less’.
Once you have recorded a satisfactory credit score, you are placed at a comfortable position to start making plans for purchasing your dream home. Make the most of this healthy state of finances and start looking forward to living in a new home and spread the word for a sound credit health.

Credit Sudhaar is India’s first Credit Health management & improvement company whose goal is to help clients to Restore, Enhance and Protect their Credit and make them credit healthy.

Counter From 7 Many General Credit Fix Mythology

Credit restoration just isn’t firm and also the absolute best solution to boost your credit file score is diy.

Let us have a look at 7 of the most typical myths you will find and examine all of them at length.

Credit Repair Mythology:
If I declare insolvency, i could begin my credit history all over with on a clean schedule.

Numerous insolvency lawyers do not sufficiently realize or explain the effects of insolvency for their clients. When you file for insolvency, every credit account you choose to use in insolvency becomes an “included in insolvency” account.

Furthermore, a insolvency filing and insolvency release listing will be in the court records portion of your credit report. Because many negative items are attached to the insolvency, it becomes difficult to eliminate all traces associated with insolvency. If possible, you ought to stay away from insolvency by any means.

Credit Repair Mythology:
you will find unenthusiastic listings, like bankruptcies and foreclosures, which are not feasible to eliminate from credit repair services.

There’s no type of negative credit listing that can not be detached from a credit restoration solution by you. Unfavorable things, such as insolvency or not compensated debts, are generally not simple to pull from credit history, but this has even more regarding the operational systems associated with the credit fix organizations than using sternness associated with bad credit article.

For example, judgments and tax liens tend to be severely bad directories, however are simpler to remove.

Credit Repair Mythology:
once I pay-off a past-due account, like a charge off or a group account, it will show “paid” and certainly will not any longer be unfavorable.

Its fairly tough to reinstate your credit without for some reason satisfying your outstanding debts. But having to pay an outstanding, aberrant debt you will definitely replace the account standing to “paid collection,” “paid had been late,” or “paid had been charged down” – that may still stand aside as a rather negative credit score.

Often settling a debt can upset you. That is some of those occasions. This type of collection records can stick to your credit restoration services for a “maximum” of seven many years.

When you’ve got fantastic financial obligation, it will always be sensible to find professional credit restoration service help to make sure you may settle your debts as producing a reasonable potential for elimination of the negative listing at precisely the same time.

Credit fix Mythology:
easily construct enough top-notch credit, it’ll counterbalance my bad credit and then make myself credit admirable.

Because, I was just late a pair of times. Any amount of bad credit is overwhelming towards probability of becoming acknowledged by a credit fix organizations. Most credit restoration organizations never ever really view your credit restoration services. A pc brings your credit restoration services, prices your credit ranking, indebtedness, and constancy, then spits aside an approval or refutation.

Also several slow repayments will often trigger credit cards or personal loan refutation. The slightest level of bad credit may cause the attention on an auto loan to rocket. You’ll almost certainly discover that even some bad credit, despite of how much great credit fix solutions you’ve got, is an intolerable blockade to credit recommendation on demand for huge amounts of credit – like a mortgage loan.

Credit Repair Mythology:
If I flourish in deleting an adverse item, it will simply come right back on my credit file.

The credit fix companies have shrewdly increased this legend through news media and government companies. In reality, the credit restoration organizations will most likely temporarily eliminate an adverse listing if they haven’t heard from the credit fix companies after approximately four weeks. In the event that credit grantor reports late, say after six weeks, and then verify the unfavorable listing, the credit restoration companies will most likely reinsert the bad listing regarding the credit restoration services.

This can be usually called a “smooth delete.” Typically, though, the creditor simply doesn’t respond while the negative listing is enduringly deleted. In the event that article is confirmed because of the credit restoration businesses, both before thirty days or after, the account may nevertheless be challenged again at some future time.

Juan is a freelance publisher who writes about credit repair service. There are unenthusiastic directories, such as for instance bankruptcies and foreclosures, which are not possible to take away from credit fix services.

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How Do Credit Bureaus Operate? By Credit Sense

How Do Credit Bureaus Operate? – http://www.creditsense.com

CreditSense offers the best information and tools on the web to that consumers need to make sense of the vast array of credit options available to them today.

We are continually reviewing and monitoring the most current credit cards, rewards programs and bonuses, and credit industry news to provide you the information you need to make well-informed decisions when applying for a credit card, or other credit products.

Our easy-to-use credit card comparison tool, displays a customized list of the best credit cards to ensure that you can easily compare characteristics such as rewards, interest rates, annual fees, 0% balance transfer options and ultimately know which credit cards best fit your needs.

We understand that applying for a credit card is just one step in building a successful credit history, we are dedicated to helping consumers use their credit sensibly and responsibly.

Having provided consulting services to credit industry clients such as Fair Isaac, Visa and Wells Fargo, our experienced credit experts keep you informed with sound advice, and valuable information to help you navigate today’s credit landscape and make the right financial decisions.

Whether you have a good credit score and are checking into the best rewards cards or programs on the market, or if you have no credit or bad credit and need to begin rebuilding your credit, CreditSense makes finding solutions to your credit needs easy.

If you have a question or concern feel free to contact us, and we’ll do our best to answer your question as soon as we can.

In the meantime you may want to peek at our Credit Card FAQ to see if we’ve already answered your question.

Keep in mind that we are not affiliated with any banks or card issuers but we’ll do our best to help.


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Credit reports play a surprisingly large role in our lives, but even more surprising is how often they contain critical mistakes. John Oliver helps credit agencies see why this is a problem.

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What Is a Home Equity Loan? | Financial Terms

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A home equity loan is simply where you’re taking a second mortgage against your house. So, I know that might sound a little confusing, but let me give you an example.

Let’s say my house is worth 0,000, and I have a mortgage on it, and I owe 0,000 on that mortgage. So, that means there’s 0,000 of equity there in that property. And one of the challenges, sometime, is you pay your mortgage down, you might want to use that equity or some of that value, for other financial goals you’re looking to achieve. So, how do you do that?

The way you do that, is by taking out a home equity loan against the property. And most home equity loans might be a 10 or 20 year loan, and you’re borrowing the money. And typically you’re gonna pay a little higher interest rate than you would on your regular mortgage, because, technically, if you don’t make your payments, the bank that holds the first mortgage has the first right to your collateral. And the lender for the second mortgage, or the home equity loan, would be next in line. So because of that, there’s a little bit more risk, and you’ll often be assessed a little bit more interest, because of that risk.

Now, there are two main types of home equity loans. There’s a set loan, a home equity loan where I borrow a certain amount. Let’s say, I borrow ,000. I pay interest on it, and every month I make my monthly payment. So, I know exactly when I’ll be done, and I know exactly what my monthly payment will be. That’s known in the industry as a home equity loan.

Another type of home equity, is what’s called a home equity line of credit. This is where you have access to money, but you’re only gonna pay interest, if you actually use it. So, it works very similar to a credit card where, if I’m not using the money, I’m typically not paying interest. But once I use it, then there’s a balance, and a monthly payment associated with it.

So, really important, a lot of times people take credit card debt, or other types of debt, and they want to consolidate it onto a home equity loan. And the reason they want to do that is, number one, to simplify their financial life. Number two, home equity loans usually have a lower interest rate, than credit cards, for example. And number three, sometimes the interest on a home equity loan is tax deductible. So, those are all good benefits.

But if you do this, be aware that once you do that, you’re home is now at risk. In other words, if I can’t make my credit card payments, the lender can’t come take my house. But if I can’t make my home equity loan payments, my house now is at risk. So, that’s a big difference.

Number two, most home equity loans take a lot of time. They’re 10, 20 year loans. And, like we were talking about, if you stretch out debt, often times you may pay more over the long term, even though your monthly payment may go down.

And lastly, when consolidating debt onto a home equity loan, be aware that you’re not moving debt around versus paying it off. Because I see a lot of people, they move credit card debt to their home equity loan, and then in a few years, what happens? The credit card debt starts coming back, and they owe money on the home equity. So, they have more debt. They’re addressing some of the symptoms, and not the cause.

So, home equity loans can be a great way to give you access to money and equity that’s tied up in your property. But just make sure you don’t fall into any of those problem areas, because I see that happen a lot. And people underestimate the risk that they incur.
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Credit Rating & Negative Credit Rating

Back in the late 1950’s, a company named Fair Isaac came up with a way to assign a number to consumers that would reflect their credit worthiness which we know today as the credit rating. It is a three digit number that tells prospective lenders if you are a good credit risk or a bad credit risk. Your credit rating makes the difference between whether or not you can get a line of credit or a loan.

The credit rating is a snapshot of everything you’ve ever done regarding the use of credit and your payment history. Fair Isaac Company (FICO) compiles all of this information and then applies a complicated mathematical formula that calculates your credit rating. The formula is not public knowledge and this is done with the blessing of the Federal Trade Commission.

The average credit rating for an American today is 720. Basically, the higher your credit rating is, the more credit worthy you are and the less problem you’ll have obtaining credit and loans. However, there are also many, many people with credit scores that fall below the 630 mark which means they are a credit risk and are likely to be denied credit just because of this rating.

Now lenders often know that things happen in life that can’t be avoided. If your low credit rating is due to excessive medical bills or life-altering events that reflect poorly on your credit report, you may be able to talk with them and provide documentation and still get approved. That’s why it’s important to monitor your credit report and attach notes to explain anything that reflects poorly against you.

It’s vital that you keep your credit rating as high as possible. That can be done by simply paying your bills on time, not overspending, not carrying a lot of credit card debt, and being sensible when it comes to buying things on credit. You should also check your credit report on at least an annual basis to make sure there are no mistakes on it. One error can bring your score down dramatically.

While some don’t like the idea of their whole financial history being scaled down to one three digit number, but in the financial world, the credit rating does rule the awarding of credit. If you want to buy a home or a car or even secure a line of credit on a credit card, you will have to have a credit rating of at least 675 if not higher.

Take steps today to raise your credit rating. Then when you need important things in life, you’ll have no problems.

Your credit rating is very important when you need to obtain credit for something important and if you have a negative on your credit report you will want to remove it as soon as possible. Just one mistake can make a huge difference in your overall credit rating, so you will want to know how to go about removing that negative so your credit rating can rise.

The first thing you need to do is pull a copy of all three of your credit reports – one from each credit reporting bureau. Then check out the information that is one each of those three reports. If you do find an error, you need to take steps to have those errors corrected and removed. Here’s how to remove a negative entry on your credit report to raise your credit rating

All three of the credit reporting companies have online forms that you can complete when you have a negative entry on your credit report. Don’t use these forms. It’s much easier to just gather your information proving that the negative is incorrect and write a letter to the credit bureau. Documentation can be a receipt showing payment was made, a bill showing a negative balance, or a letter from the creditor saying that the bill has, indeed, been settled.

Then send your letter to the credit bureau via certified mail with a return receipt requested so you know the bureau did receive your letter. They will review your information and notify you of their decision. If it is in your favor, you will once again, need to get a copy of your credit report so you can verify that the negative has been removed.

If you have a negative credit rating right now, there’s no way that you can completely erase that negative. What you can do, however, is take steps to raise it. How do you remove a negative credit rating? Please know that it will take time and effort on your part, but the first thing to do is to take steps to pay down your credit card debt and make any other payments on a timely basis.

You may want to look into a debt consolidation loan so that you pay off your old creditors. The advantage to this is that you will be making just one payment to one company instead of multiple payments to multiple companies. Plus, it will reflect positively on your credit report and show that you are taking steps toward removing your negative credit rating and trying to raise your credit score through smart financial practices.

There’s not much to know when it comes to knowing how to remove a negative credit rating. It just takes time and common sense!

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Credit Repair: Exactly how To in 5 Minutes

Credit Repair: How To in 5 Minutes

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Beginners’ guide to mortgages – MoneyWeek investment tutorials

A property mortgage is the biggest debt most of us will ever take on. So choosing the right one is vitally important. Tim Bennett explains the basics of mortgages and highlights the main pitfalls to avoid.

Related links:

– Introduction to house price surveys
http://moneyweek.com/videos/introduction-to-house-price-surveys-10107/

– Why you need an Isa
http://moneyweek.com/videos/why-you-need-an-isa-10616/

– How to cut your tax bill
http://moneyweek.com/videos/how-to-cut-your-tax-bill/

– A beginner’s guide to pensions
http://moneyweek.com/videos/a-beginners-guide-to-pensions-60900/

MoneyWeek videos are designed to help you become a better investor, and to give you a better understanding of the markets. They’re aimed at both beginners and more experienced investors.

In all our videos we explain things in an easy-to-understand way. Some videos are about important ideas and concepts. Others are about investment stories and themes in the news. The emphasis is on clarity and brevity. We don’t want to waste your time with a 20-minute video that could easily be so much shorter.

We’ve already made over 200 financial videos and we add more each week. You can see the full archive here at MoneyWeek videos: http://moneyweek.com/video-tutorial/
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The Top 10 Credit Monitoring Services – CreditFlare.com

There are many options when it comes to identity & credit monitoring services. http://www.creditflare.com/top-10/top-10-credit-monitoring-services. We’ve listed our Top 10 Credit Monitoring Services for 2013.

Before you sign up for a credit monitoring plan, we suggest you take the time to evaluate all of the features and prices and choose the service that best fits your needs and budget. It’s well worth a few dollars a month to know that your identity and credit report is being monitored for any fraudulent activity. Get alerts of suspicious activity and take action before the problem becomes even greater.
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Sell Home Fast Guidelines for Getting Easy Cash on Sale

Easy Cash Offers, No Hassle, and No Realtor Commissions, Why Wait For Buyers!

Do you know what are the common hassles associated with a quick home sale plan? While trying to sell a home fast on the open market, you may have to go through a lot of stress and frustration, especially with the falling price of property in the USA market. Many homeowners are experiencing it since the beginning of the global recession period.

“Sell House Fast in Virginia” investors can offer you a simple and hassle-free home sale experience that you have always been looking for. Apart from years of experience in quick home buying, these expert home investors know how to sell a house fast in Virginia no matter what your situation or condition is. Their deep knowledge and capability can make you get the right price for your property in just 24 hours. Don’t hesitate to contact them as they can buy your home anywhere, any time and most importantly in any condition. They can customize “Sell House Fast” solutions to match your personal needs. So, why wait for potential home buyers, keep in touch with these quick home investment companies and get assured to sell a house fast in Virginia at a fair price.

“Sell House Fast” Investors – Support You in Any Situation, Any Condition

There are several reasons why you just need to sell your house fast in Virginia. You can get necessary support in home buying investors as they have been serving to the demands of hundreds of homeowners every month in difficult and different circumstances. Whether divorce, foreclosure, mortgage payment delay, title issues or bad tenant’s problem is the reason for quickly selling your home, “Sell Home Fast” investors are ready to provide the most competitive cash offers to help you get on with life.

Selling Your House Fast In Virginia – No Progress So Far!

In the present economic condition, you struggle a lot to find a prospective buyer and when you find one you often end up getting tied to a complicated real estate chain that keeps the process in a standstill unless a cash investor comes to interrupt the chain. Since first-time home buyers are not always available to break the stalemate, a large number of homeowners are left with no choice but to wait until a buyer turns up! “Sell House Fast in Virginia” investors have the best ability to sell your home in as little as a week. In fact, there is no hassle of a property chain breakage as the cash offer they deliver to you is the cash payment that will get deposited in your account as soon as the sale process gets completed.

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* Call Quick Cash Property Investors or use their online forms to get started now. They will analyze your requirements and call back to give you a suitable cash offer.
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Andrew Gomez has been in this real estate industry for over a decade. He knows that there are some websites which say “Sell home fast“, “Sell my house Virginia” who can really help you get your home sold in Virginia within an agreed upon time frame.

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