Are the alternatives to foreclosure any better as fare as my FICO score is concerned?
The common alternatives to foreclosure, such as short sales, and deeds-in-lieu of foreclosure are all "not paid as agreed" accounts and considered the same by your FICO® score. This is not to say that these may not be better options for you from a financial perspective, just that they will be considered no better of worse for your FICO score.
If you are considering bankruptcy as an alternative to foreclosure, that may have a greater impact to your FICO score, While a foreclosure is a single account that you default on, declaring bankruptcy has the opportunity to affect multiple accounts and therefore has the potential to have a greater negative impact on your FICO score. source myFICO.com
Tuesday, June 13, 2017
HOW LONG WILL A FORECLOSURE AFFECT MY FICO SCORE?
How long will a foreclosure affect my FICO score?
A foreclosure remains on your credit report for 7 years, but It's impact to your FICO® score will lessen over time. While a foreclosure is considered a very negative event by your FICO score, its a common misconception that it will ruin your score for a very long time. In fact, it you keep all of your other credit obligations in good standing, your FICO score can begin to rebound in as little as 2 years. The important thing to keep in mind is that a foreclosure in a single negative item, and if you keep this item isolated, it will be much less damaging to your FICO score than if you had a foreclosure in addition to defaulting on other credit obligations.
source myFICO.com
A foreclosure remains on your credit report for 7 years, but It's impact to your FICO® score will lessen over time. While a foreclosure is considered a very negative event by your FICO score, its a common misconception that it will ruin your score for a very long time. In fact, it you keep all of your other credit obligations in good standing, your FICO score can begin to rebound in as little as 2 years. The important thing to keep in mind is that a foreclosure in a single negative item, and if you keep this item isolated, it will be much less damaging to your FICO score than if you had a foreclosure in addition to defaulting on other credit obligations.
source myFICO.com
credit scores - understanding your credit score HOW MISTAKES AFFECT FICO
Mortgage - (FICO)
Equifax
Transunion
Experian
Consumer
freecreditscore.com
triplescore.com
annualcreditreport.com
What is your FICO Score?
payment history 35%
amounts owed 30%
length of credit history 15%
credit use 10%
new credit 10%
PARTIAL CREDIT BUREAU SCORECARD
ATTRIBUTES POINTS
number of bank credit cards
0 15
1 22
2 {30}
3 40*
4+ 30
number of inquiries last month 0 75*
1 55
2+ {40}
number of months on file
-12 12
12-23 {35}
24-47 60*
48+ 75*
number of months since most recent bank card opening
no bank cards 32
bank card,not open date 40
0-5 {20}
6-11 25
12-17 30
18-23 38
24+ 45*
number of months since most recent derogatory public record
no public record {75*}
0-5 10
6-11 15
12-23 25
24+ 49
*represents the maximum points possible
{} represents the actual points received
©195,Fair, Isaac and Co, Inc
HOW MISTAKES AFFECT FICO
CREDIT MISTAKE IF YOUR SCORE IS 680 IF YOUR SCORE IS 780
maxed out card down 10-30 points down 25-45 points
30 days late payment down 60-80 points down 25-45 points
debt settlement down 45-65 points down 140-160 points
foreclosure down 85-105 points down 140-160 points
bankruptcy down 130-150 points down 220-240 points
Equifax
Transunion
Experian
Consumer
freecreditscore.com
triplescore.com
annualcreditreport.com
What is your FICO Score?
payment history 35%
amounts owed 30%
length of credit history 15%
credit use 10%
new credit 10%
PARTIAL CREDIT BUREAU SCORECARD
ATTRIBUTES POINTS
number of bank credit cards
0 15
1 22
2 {30}
3 40*
4+ 30
number of inquiries last month 0 75*
1 55
2+ {40}
number of months on file
-12 12
12-23 {35}
24-47 60*
48+ 75*
number of months since most recent bank card opening
no bank cards 32
bank card,not open date 40
0-5 {20}
6-11 25
12-17 30
18-23 38
24+ 45*
number of months since most recent derogatory public record
no public record {75*}
0-5 10
6-11 15
12-23 25
24+ 49
*represents the maximum points possible
{} represents the actual points received
©195,Fair, Isaac and Co, Inc
HOW MISTAKES AFFECT FICO
CREDIT MISTAKE IF YOUR SCORE IS 680 IF YOUR SCORE IS 780
maxed out card down 10-30 points down 25-45 points
30 days late payment down 60-80 points down 25-45 points
debt settlement down 45-65 points down 140-160 points
foreclosure down 85-105 points down 140-160 points
bankruptcy down 130-150 points down 220-240 points
To thins own self be true
Polonius:
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.
Farewell, my blessing season this in thee!
Laertes:
Most humbly do I take my leave, my lord.
Hamlet Act 1, scene 3, 78–82
Friday, June 9, 2017
Thursday, June 1, 2017
How to adjust preferances on Google Android device
https://www.howtogeek.com/204543/how-to-turn-off-sound-and-vibration-in-androids-keyboard/
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