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Late Payments and Credit Scores BrendaWynnTeam Berkhshire Hathaway HomeServices Nevada Properties Las Vegas NV Real Estate Late Payments and Credit Scores Consumers who make late credit payments have no idea how badly their credit scores can be affected or how long it takes to repair the damage. According to Nerdwallet.com , a late payment of 30 days or more can knock as many as 100 points off your credit score and stay on your credit report for up to seven and a half years. FICO scores, the credit-scoring system used by the Fair Isaac Corporation, help banks and other lenders determine a borrower’s creditworthiness. Your scores can change with every new report from a creditor, but nothing impacts credit scores like a missed payment. Your payment history accounts for 35 percent of your FICO score, advises credit bureau Experian.com . Other factors include the amounts owed (30%) credit history length (15%), types of credit (10%) and new credit (10%.) If you’re late mak...
Buy a House in Las Vegas-Your Home Equity Is Growing [INFOGRAPHIC] Buy a House in Las Vegas Buy a House in Las Vegas-Your Home Equity Is Growing Some Highlights If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year. Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power your dreams. Ready to sell ? Let’s connect to talk about how you can take advantage of your rising equity to reach your goals.
First-Generation Homebuyers First-Generation Homebuyers : The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America , says : “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.” In other words, your dream of homeownership has far-reaching impacts. If you’re about to be the first person in your family to buy a home, let that motivate you throughout the process . As you begin your journey , here are three helpful tips to make that dream come true. First-Generation Homebuyers : 1. Reach Out to a Real Estate Professional It’s important to reach out to a tru...
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