If global health pandemic was not enough to put a damper on 2020, then the recession declared in June sure got our attention. With so many changes to your life right now, it is understandable that keeping an eye on credit scores may feel less important. But, as rocky and uncertain as things may be […]
Author Archives: kendrastrey10
Installment Credit Versus Revolving Debt
What’s the difference between installment credit accounts and revolving debts? The answer impacts your credit score and/or the way a potential lender evaluates your financial picture. Let’s unpack these credit buckets. Installment Credit Installment credit is a loan that offers a borrower a fixed, or finite, amount of money over a specified period. Examples are […]
Your Credit Score May Be Lower Than You Think
Many home buyers do not realize that the tools they use to monitor their credit scores may not provide the complete picture, so your credit score may be lower than you think. The score a mortgage lender considers in evaluating your loan application may be lower than the one you see when you check it yourself. […]
How Does a Loan Forbearance Affect My Credit History?
As the COVID-19 public health crisis continues to cause chaos in the U.S. economy and job market, more families are struggling to make their mortgage payments. This reality has led to much discussion on the topic of mortgage forbearance. But how does a loan forbearance affect my credit history? How does a loan forbearance affect […]
National Credit Education Month
March is National Credit Education Month, so there is no better time to educate yourself and others on the importance of understanding the ins and outs of your credit score! March is National Credit Education Month — the perfect time to consult with Scorewell, Inc. about how to achieve your optimal credit score. Did you […]