Can I let my credit score slide during a recession?

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 …

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. …