http://www.mycreditreportinfo.com The Credit/Financial Blog Fri, 31 Oct 2008 02:29:10 +0000 http://backend.userland.com/rss092 en The federal government recently unveiled new rules and regulations that are meant to strengthen oversight of the mortgage lending industry, protect consumers from fraud and predatory lending practices, and ensure that the catastrophic subprime mortgage crisis is never repeated. Fed Chairman Ben Bernanke announced the new rules, saying they are “intended ... http://www.mycreditreportinfo.com/2008/102/new-fed-rules-established-to-help-protect-consumers/ Loan to Value or “LTV” is a term used by mortgage lenders to refer to the amount of money they are willing to loan to customers who put up real estate or other assets as collateral. LTV is a ratio or a percentage; in other words, of what a bank ... http://www.mycreditreportinfo.com/2008/100/loan-to-value-ltv/ Here are five expert tips on how to navigate the current credit crisis to ensure success when applying for a mortgage. Plan Ahead Forget the way business was done in the past. Expect to borrow less, pay a larger rate and higher closing costs, and have credit scores scrutinized more closely. Plan ... http://www.mycreditreportinfo.com/2008/96/tips-for-surviving-the-credit-crunch/ A HELOC or home equity line of credit is a kind of second mortgage that behaves much like a credit card. The line of credit is established based upon the value of your home, so the more equity you have in the property the more money you can borrow. You ... http://www.mycreditreportinfo.com/2008/94/heloc-loans/ Micro lending – which involves loans of small amounts – got its start as a research project meant to study the possibility of designing a credit delivery system targeted to the rural poor. In 1983 the project – created by Professor Muhammad Yunus of Bangladesh, India – was transformed into ... http://www.mycreditreportinfo.com/2008/90/micro-lending/ FICO – an almost universally used credit scoring system that was invented and is calculated by the Fair Isaac company and then sold as valuable information to financial services companies – is changing this year. As a result, many consumers will have their credit scores evaluated differently, and they may ... http://www.mycreditreportinfo.com/2008/88/how-credit-scores-are-changing-in-2008/ Most of us overlook the obvious ways to save, as evidenced by the fact that the average savings rate in the USA had dipped into negative territory for the first time since the Great Depression. That means that most Americans spend more than they earn each month while not saving ... http://www.mycreditreportinfo.com/2008/85/three-small-strategies-for-saving-more-money/ Saving money on gasoline has become more critical than ever, as millions of Americans try to cut back on expenses and deal with the unexpectedly high prices of fuel. Now – with saber-rattling in the Middle East, a protracted war in Iraq, and unprecedented consumption of energy by rapidly developing countries ... http://www.mycreditreportinfo.com/2008/81/saving-money-on-gasoline/ The wait is finally over and the iPhone 3G is out in a few days. So you've saved up on the cash (thankfully it's not as steep as the original iPhone) but what about the credit check? The only thing that has made the iPhone price come down is the ... http://www.mycreditreportinfo.com/2008/79/iphone-3g-credit-check/ There are two types of credit that you can apply for: Installment credit and Revolving Credit. In an installment credit you get a loan for pre-determined period of time at a pre-determined interest rate with pre-determined payments. A good example of an installment credit would be your home mortgage. When ... http://www.mycreditreportinfo.com/2008/58/installment-credit-vs-revolving-credit/