Credit Reports to Track; Rent, Utility and Payday Loans

According to FICO -- the most used credit report and credit score provider -- they will stat providing more information to their clients about consumers.  FICO announced it will provide more information to mortgage lenders including payday loans, evictions and child support payments.  And, in the future information on the status of utility, rent and cellphone payments may be included.  There is more here

Seperately in Septmeber the credit burueas began providing estimates of consumer incomes as a credit reprot option.  There is much more here for the inquiring mind.

Of course you credit report and credit score is only as good as the data reported.  If you need credit score repair then give credit repair Texas a call at Consumer Credit Capital a call for a free credit repair evaluation.

Higher FICO Lower Payment

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.......................A $200,000 30-year fixed rate loan in California would cost a borrower with a 760 FICO $1,182 per month, or $364 less on each payment than for a borrower with a score below 620, according to myFICO.com, Fair Isaac's consumer-oriented Web site.............................

.............................HIGHER FICO, LOWER PAYMENT

As the credit-scoring system grew larger, it became more prone to errors, critics say. Credit reporting companies process some 4.5 billion pieces of data every month, and some 79 percent of consumer credit reports contain errors, according to a 2004 report by the Federation of State Public Interest Research Groups.

Congress in 1970 required that companies verify and correct incorrect information within 30 days, opening the door for a new industry of credit repair services that often hound credit bureaus to get information expunged......................

http://www.foxnews.com/story/0,2933,271594,00.html

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Principle reduction option

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Mortgage rates in the United States have dropped to their lowest levels since the 1940s, thanks to a trillion-dollar intervention by the federal government. Yet the banks that once handed out home loans freely are imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out.

The scarcity of credit not only hurts homeowners but also has broad economic repercussions at a time when consumer spending and employment are showing modest signs of improvement, hinting at a recovery after two years of recession.

Refinancing could save owners hundreds of dollars a month, which could be spent, saved or used to pay down debts. Extra spending would help lift the economy, and lower payments might spare some people from losing their homes to foreclosure.

http://www.nytimes.com/2009/12/13/business/economy/13rates.html?_r=2

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State Government withholds money to cities

New York leads the way in cutting local budgets. let us take a look...

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Gov. David A . patterson announced on Sunday that he would unilaterally withhold $750 million in scheduled payments to schools and local governments, saying that strong action was necessary to protect New York State from insolvency.

The reductions of 10 to 19 percent in aid will affect schools and social service providers, health insurance payments, cities and counties. Mr. Paterson said the withheld funds were not “a cut” or an “impoundment” — perhaps drawing a legal distinction because only the Legislature is empowered to make permanent budget cuts.

Some lawmakers called the move illegal, but the governor said “we are well within the bounds of legal authority.”

http://www.nytimes.com/2009/12/14/nyregion/14budget.html?_r=2&scp=2&sq=paterson&st=csew.oregon-credit-repair.com, www.consumercreditcapital.net, www.oregoncreditcapital.com, www.creditscorecounseling.com, credit, repair, report, bad, improve, companies, fix, information, services, service, help, software, legal, own, rebuild, dispute, file, credit report, repair credit, credit report, fix bad, auto loan, reverse mortgage, improve credit, credit repair companies, fix credit, credit repair information, credit repair services, credit repair software, legal credit repair, repair own credit, rebuild credit, dispute credit, credit file, foreclosure, short sale, bankruptcy, loan, refinance, Oregon, Portland, Medford, Salem, auto loan, bad credit, car loan, credit, Credit Repair, fico, Fico Score, internal revenue service, irs, New Cars, tax deduction