They are out there but you are going to pay high interest. Check out www.creditboards.com. There is lots of good info to help someone out with bad credit. Get your credit scores up and it will really make life look brighter. Good Luck
For future reference, go to https://www.annualcreditreport.com, you can get the three credit reports there for free once-a-year, no strings attached.
Also, www.creditboards.com forums is another great place to get good free credit info.
Do not close the other cards unless you have not used them in more than 2 years, also, as stated earlier, the ratio of available credit/ used credit is crucial, stay below 50% used. over 50% will kill your score. Transfer part of the balance to save on intrest but not the whole thing. Also the rentals are not showing up because you are probably not listed First on the title.
insurers are offering discounts for ability to pay and payment history now...its been the trend for the past couple of years. It makes sense to me. As long as you have them all pull within the same period, it only shows up as one pull on your report. So if you shop for insurance at the same time as shopping for your loans, i believe it should all show up as one pull.
These people just want to make sure you are going to be paying your bills...
Insurers have a database of your insurance history. Each time you file a claim, an entry is made in that database.
When you purchase new insurance, your insurance history affects your insurance premium. Claims within the past three years may disqualify you from purchasing insurance in the first place.
If your properties are owned by an entity other than you personally (which they should be---a whole other topic), you should be able to supply the EIN or TIN instead of your SS#. The first-named insured of the policy will not be (should not be) you personally, but the entity. In other words, the insurer is not underwriting you, but the ownership entity.
SSN is just one criteria on a CLUE report(stands for Comprehensive Loss Underwriting Exchange)...Address, owner name, and prior insurers are other criteria when you run a CLUE report. You should ask your Agent to run one BEFORE you make an offer on your next property...
Quote:
On 2007-03-05 12:28, NewKidInTown3 wrote:
Insurers have a database of your insurance history. Each time you file a claim, an entry is made in that database.
When you purchase new insurance, your insurance history affects your insurance premium. Claims within the past three years may disqualify you from purchasing insurance in the first place.
How is that database accessed? Probably by SSN?
[addsig]
They are out there but you are going to pay high interest. Check out www.creditboards.com. There is lots of good info to help someone out with bad credit. Get your credit scores up and it will really make life look brighter. Good Luck
For future reference, go to https://www.annualcreditreport.com, you can get the three credit reports there for free once-a-year, no strings attached.
Also, www.creditboards.com forums is another great place to get good free credit info.
Do not close the other cards unless you have not used them in more than 2 years, also, as stated earlier, the ratio of available credit/ used credit is crucial, stay below 50% used. over 50% will kill your score. Transfer part of the balance to save on intrest but not the whole thing. Also the rentals are not showing up because you are probably not listed First on the title.
good luck
[addsig]
topfuel,
32% ? is that the magic number that lenders/ credit scorers look at the most. Is that 32% of all available credit or just cards or what?
topbro,
This site is for mortgage brokers and loan officers. http://www.rapidrescore.org/index-4.html But it will help you understand what can be done.
Quote:
On 2007-03-07 14:24, lacashman wrote:
topbro,
This site is for mortgage brokers and loan officers. http://www.rapidrescore.org/index-4.html But it will help you understand what can be done.
Thank you my friend that was beautiful and exactly what I needed to know could be done.
insurers are offering discounts for ability to pay and payment history now...its been the trend for the past couple of years. It makes sense to me. As long as you have them all pull within the same period, it only shows up as one pull on your report. So if you shop for insurance at the same time as shopping for your loans, i believe it should all show up as one pull.
These people just want to make sure you are going to be paying your bills...
Insurers have a database of your insurance history. Each time you file a claim, an entry is made in that database.
When you purchase new insurance, your insurance history affects your insurance premium. Claims within the past three years may disqualify you from purchasing insurance in the first place.
How is that database accessed? Probably by SSN?
If your properties are owned by an entity other than you personally (which they should be---a whole other topic), you should be able to supply the EIN or TIN instead of your SS#. The first-named insured of the policy will not be (should not be) you personally, but the entity. In other words, the insurer is not underwriting you, but the ownership entity.
[addsig]
SSN is just one criteria on a CLUE report(stands for Comprehensive Loss Underwriting Exchange)...Address, owner name, and prior insurers are other criteria when you run a CLUE report. You should ask your Agent to run one BEFORE you make an offer on your next property...
Quote:
On 2007-03-05 12:28, NewKidInTown3 wrote:
Insurers have a database of your insurance history. Each time you file a claim, an entry is made in that database.
When you purchase new insurance, your insurance history affects your insurance premium. Claims within the past three years may disqualify you from purchasing insurance in the first place.
How is that database accessed? Probably by SSN?
[addsig]