REAL MONEY Credit Myth of the Day
Closing the credit cards that you dont use will help boost your scoreFalse!
It is a common myth that closing unused credit card accounts will be good for your credit score. In fact, it will actually ... Posted on 8/28/12 at 7:03 AM
Mike and Laura Park thought their credit record was spotless. The Texas couple wanted to take advantage of low interest rates, so they put their house on the market and talked to a lender about a mortgage on a bigger home in the Dallas-Fort Worth suburbs. Their credit report contained a shocker: A $200 medical bill had been sent to a collection agency. Although since paid, it still lowered their credit scores by about 100 points, and it means they'll have to pay a discount point to get the best interest rate. Cost to them: $2,500.
The new initiatives are expected to streamline the process of selling a home that is worth less than the mortgage, or transfer ownership of a home to the lender. Both options will still ding the homeowner’s credit score, but less than a foreclosure.
Senators had a partisan split Friday on a construction bill for the new North Dakota Veterans Home in Lisbon. Sen. Tim Mathern, D-Fargo, and other Democrats argued against adopting amendments to Senate Bill 2025 that cut $4 million from the home’s budget, saying the amended bill deleted a geothermal heating system and other crucial items. But Republicans said the amendments were needed to keep the bill on a fast track because it has to be signed by the governor by March 1 to meet a federal government deadline for matching funds.
, February 07, 2009
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