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Credit Score in Santa Clara County : Real Estate Advice

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  • Home Buying93
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Activity 8
Tue Jun 27, 2017
According to the credit reporting agencies the models for credit scoring are fluid.
What was relevant five years ago is completely changed for today's market.
Student loans do not effect your credit as much as a credit cards.
Credit scores will recover nicely when your credit balances go under 50% of the maximum limit.
The interest rates on those credit cards is significantly greater than the student loans. Paying down those credit cards is going to give you a 'bigger bang for your buck'.
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1 vote 9 answers Share Flag
Mon Oct 31, 2016
Rich Reed answered:
From the article references: "The issue is not whether the lender can give the inquirer a copy, but, rather, should the lender provide the copy of the credit report. Section 607(c) of the FCRA states that disclosure of consumer reports by a user (in this case, the lender) is allowed. From a practical standpoint, there may be more good reasons to not provide the credit report directly to the consumer than the reasons to do it."
Hope this helps!
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0 votes 1 answer Share Flag
Mon Oct 3, 2016
Justagreatguy answered:
I have a 638 credit score now; and I have Credit Repair helping me with some old items on my credit report, that have been on there for 10 years now. Credit Repair is charging me $99.00 per month, and I have 3 removed from the 4; and, they only have to adhere to one more. These balances have been long paid, and the reason I got behind with them from before, was due to an illness and divorce that has now been eradicated from my life. I am doing fine financially..I am retired making $2600 per month, $31,200 per year. All I want is a $3000 loan to pay off my lingering medical bills, and to pay my bills 3 months in advance. I am a decent buy; in fact, I am formerly CT States Big Brother of the Year; but, it seems no one wants to help me. Please see what you can do for me. I give you my word, that I will pay my bill on time. I need a loan to up my credit report. Thanks 860-810-5773 Ken Finley ... more
0 votes 23 answers Share Flag
Thu Oct 31, 2013
Hi Katie, I am from the lending side.
This is something we might be able to do as a Direct Lender and we service 50% of our loans so we can make various exceptions.
Just contact me to go over or you can fill out an app online at and I will work on getting you pre-approved.
Look forward to hearing from you.
We have loan programs where we do loans with no credit score and use alternative trade lines.

Michael R DIaz 380048
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0 votes 8 answers Share Flag
Wed Jul 31, 2013
Jessica Bateman answered:
I work with a lot of people who have less than perfect credit. I tell all my clients that need a pre approval to visit The Lenders Network, I have seen loan approvals from them even with scores under a 600. So if anyone can get you a loan they can.

Good luck to you!
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1 vote 8 answers Share Flag
Mon Jul 29, 2013
Michael Abramsky answered:
Let’s go back to basics about Inquiries.

An inquiry is a record of any company viewing your credit report for the purpose of reviewing your credit history. The Fair Credit Reporting Act (FCRA) allows any organizations to view your credit file as long as they have permissible purpose.

Permissible purpose is defined by the FCRA as;
• Ordered by a court or a federal grand jury subpoena.
• Instructed by the consumer in writing.
• For the extension of credit as a result of an application.
• For employment purposes.
• For the underwriting of insurance.
• To review a consumer’s account.
• To determine eligibility for a professional license.
• In connection with child support.

Not all Inquiries are created equal.

There are two different types of inquiries; hard inquiries and soft inquiries.

Hard inquiries occur when someone checks your credit report for the purpose of extending credit.
Common hard inquiries are credit checks from:
• auto lenders
• mortgage lenders
• credit card companies
• landlords
• cell phone companies
• utility companies
• collection agencies

Soft inquiries, also known as an “Account Review Inquiries”, occur when:
• You check your own credit report
• An employer checks your credit
• A lender checks to see if you qualify for a pre-approved offer
• A current creditor reviews your report

Soft inquiries do not impact your credit score, in fact, they only appear on your consumer credit report. This means a lender checking your credit will not see any soft inquiries.

Hard inquiries account for 10% of your overall FICO score and remain on your credit report for 2 years from the date they were initiated. But the only hard inquiries which impact your credit score are those ran within the last year.

Quick Tip: To get the most positive impact from this category, try not to have more than 1 inquiry every 6 months.

Finally, we saved the best for last.

Inquiries ran within a one week time-frame within the same industry are grouped together and only count against your FICO score as one inquiry.

So if you went car shopping and your auto dealer sent your credit application to 12 different lenders who each ran your credit report; don’t worry, although all 12 inquiries will report on your credit history, they will only impact your credit score as a single inquiry.
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0 votes 10 answers Share Flag
Sat Feb 27, 2010
Carlos Cruz answered:
Erica, your best best would be to speak with Ken Strey ( of CreditLine IQ. I work with them closely in helping my clients get their scores up before they get a mortgage loan.

The impact you are referencing will be different depending on what your original score is, combined with other events on your credit report. You will not be able to get a proper answer without speaking with a professional. The answer has to be specific to you and your credit report.

Let Ken know I referred you to him. You can see a video interview of Ken Strey on my website @ If you have any other questions, please feel free to contact me or Ken, (925) 265-8502, directly.

Carlos Rafael Cruz
REALTOR | DRE# 01865777

Intero Real Estate Services
12900 Saratoga Avenue
Saratoga, CA 95070

+1 (408) 786-5179 (Cell)
+1 (408) 863.3179 (Office)
+1 (408) 877.1595 (Fax)

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1 vote 2 answers Share Flag
Sun Nov 30, 2008
Luckyy answered:
Thanks a lot for all the comments. I will keep an eye on my credit cards and also use them at least once every 6 months (just to keep them from being closed by the issuers).
0 votes 5 answers Share Flag
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