Find A Home Find A Realtor MHL Community
 Credit Quiz
 Laws & Regulations
 Factors Affecting Credit
 Credit FAQ's
Helpful Tips
Want more information about a link or item on the screen? Simply roll over it with the mouse for a popup tip.
Our site uses popup windows to deliver content and information in a user friendly interface. We will never use popup windows to deliver unwanted ads or content to your browser. Please disable popup blocker programs for this site in order to use the site properly.
Factors That Affect Your Credit
Late Payments
Late payments have a bigger negative impact the more recent they are
Anything later than 30, 60 or 90 days become progressively worse
Late payments on mortgages are very bad for your credit records
High Balance
The closer you are to your credit limit, the worse your credit looks
You can change this by raising your credit limit or paying down the balance
Collection and Liens
Liens have to be paid
Older collections do not have to be paid, but the rate is higher
Open Credit
DO NOT close all your credit cards
Available credit/money helps minimize the risk in the eyes of the lender
Credit Inquiries
Credit card and car inquiries subtract 4 points each time
Mortgage credit pulls do not count only once
Bankruptcy - Chapter 7 or 13
Over 3 years, bankruptcy does not count if credit has been re-established
Chapter 13 can be paid off with a refinance
Home I About Us  I  Community I  Feedback I  Media Room | Join Today!
(c) 2006 - 2007  All Rights Reserved.  This site is best viewed at 1280 x 800 or greater resolution.