If you are considering paying off or paying down an account in an attempt to improve your credit scores – you should really consider using our “what if” program.
It can save you time and money – and give you a valuable insight on the impact of paying off or paying down accounts on your credit scores.
I’ll give you an example… Yesterday I had a borrower that was thinking about paying off his Chase credit card.
The card had a balance of $267, and his credit limit was $500. When I asked the “what if” program what would happen if he paid off the account – it said his TransUnion score would go down by 16 points. I know that doesn’t make much sense, but the fico system doesn’t make much sense.
…By the way – I closed a loan yesterday in just two and a half weeks. If you have a loan and need to close quickly – please contact me. I can probably help ya!
I hope you have a great day! Thanks for reading!
Brett
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……
