Hi Everyone:
Just wanted to send out an invite to everyone. This Sunday morning I will be on 105.7 Fan Radio station along with Freedmont Mortgage. I'm the guess speaker and we are talking about, well if you said Real Estate you guessed right. So if you want to take a listen anytime from 9AM-11AM, please tune in and any questions you may have please feel free to call me there and you will be on the air, 410 583-1057.
If you are too shy to call the station but have some Real Estate needs please visit my website and you can contact me from there at www.MarylandHomesbyLynnn.com
Thursday, August 14, 2014
Monday, August 11, 2014
Study: Rental Payment History Can Help Boosts Credit Scores
Came across this great article about renting. Seems a good rental history can help boost your credit score. If you have any questions or need any help please contact us at www.MarylandHomesbyLynn.com
The addition of rental payment data to credit files may help more potential renters become home owners.
Experian became the first credit reporting agency to add on-time rental payments to its database. It recently conducted an analysis to determine how the added rental information has aided consumers’ credit files. The study found that subprime and nonprime residents saw the greatest positive score impact by the addition of rental histories. Nineteen percent of the study participants that were considered subprime moved to at least one higher – or less risky – risk segment by the addition, opening them up to more affordable credit and additional credit opportunities, the study noted.
For the previous unscoreable, adding the rental data has now allowed them to have a credit score, with the majority now falling in the least risky prime category too, Experian’s analysis shows.
“Consumer financing rapidly changed during the economic upheaval, and regulatory changes forced lenders to tighten the standards for the underwriting process,” says Genevieve Juillard, president of Experian Consumer Information Services. “This excluded many Americans from the opportunity to attain credit due to a limited or no credit history. Residents who pay their rent on time month after month should be rewarded and not overlooked simply because they rent instead of own the place they call home.”
Source: Experian
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