RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

What Actions Impact My Credit Score?

April 27, 2016 2:30 am

Credit scores factor into the majority of lending decisions, including those for mortgage and rental applications. In most of these scenarios, lenders determine an applicant’s eligibility by weighing his or her FICO® Score.

FICO recently rolled out an enhanced version of their Score Simulator that helps prospective homebuyers and renters understand the impact their actions have on their credit scores. The tool simulates actual FICO Scores, allowing users to enter multi-action simulations and providing side-by-side comparisons with data from the three major credit bureaus.

The what-if simulations include over 20 distinct actions, such as:

• Forgetting to Pay a Bill
• Increasing a Credit Account Limit
• Maxing Out a Credit Card
• Paying Down a Credit Card Balance
• Refinancing a Mortgage
• Taking Out a Car Loan

“Because FICO Scores are used in more than 90 percent of U.S. lending decisions, consumers want to better understand how their actions might affect FICO Scores," says Geoff Smith, vice president of Consumer Scores at FICO. “The newly enhanced FICO Score Simulator enables consumers to run simulations using the actual FICO Score 8 formula, as well as data from all major credit bureaus. This is an extremely easy-to-use and valuable tool for anyone who wants to understand how their financial behavior could impact their FICO Scores.”

The Score Simulator can be found at myFICO.com.

Source: FICO®

Published with permission from RISMedia.


Tags:

National Safe Digging Month: Call 811!

April 27, 2016 2:30 am

Every six minutes, underground utility lines are damaged by contractors and homeowners.

“[This] is the time of year when many of our customers think about planting trees and shrubs, putting up a fence, or replacing a mailbox post,” says Ed Baine, senior vice president of Dominion, a Mid-Atlantic power supplier. “But with more than 20 million miles of underground utilities buried across the country, it's very likely that there are telecommunications, cable, electrical or gas lines buried in your yard—in places you cannot see and may not expect.”

To determine if your dig project will strike an underground utility line, call 8-1-1, says Baine. A professional locator will visit your property to mark the underground lines with flags or paint.

Remember:
 
Plan – Always call 8-1-1 at least three business days before digging and allow time for marking, regardless of the depth of the dig or familiarity with the property. If a contractor has been hired, confirm that a call to 811 has been made.

Confirm – After the professional marks the lines, confirm with the 811 call center that all utilities have responded.

Move – Consider relocating your project if it is in proximity to utility line markings.

For more information, visit call811.com.

Source: Dominion

Published with permission from RISMedia.


Tags: