One of the most important things in your personal finance life is your credit score. And, since the recent subprime lending crash, your credit score is even more important than ever. Mortgage lenders are wary of taking on credit risk right now, and even in the flagging subprime lending industry, your credit score is becoming more important.
Because your credit is such an important part of home mortgage financing, I'd like to start out on this blog with a crash course in credit score. Over the next few days we will look at:
- What goes into a credit score.
- Who looks at your credit score.
- How to improve your credit score.
- And what mortgage lenders use your credit score for.
The video reveals how predatory lenders were unregulated and often unscrupulous, targeting people they knew couldn’t pay. The broker would make the loan, take a fat commission, and pass on the responsibility as quickly as possible. One lawyer tells: "It’s American capitalism at its worst."
http://personal-finance-management.blogspot.com/2007/12/video-mortgage-meltdown-its-american.html
Posted by: Personal Finance Management Guide | January 4, 2008 2:19 AM | Permalink to Comment