West Valley

Myth #8 If you get a derogatory item removed, it will just come back.  Not if it is removed legally.  When it is removed with cause under the Fair Credit Reporting Act it cannot legally be placed back on your credit report.  The same law that required its removal prohibits it from being placed back on. » Read more  

Myth #7 Credit reporting and credit scoring were developed to educate and inform consumers.  False.  The Big 3 and FICO serve the banking community along with any other service provider looking for an excuse to “rate” their service to consumers.  Evidence: why do bankruptcies, parking tickets, public records, etc. report twice? Who in the heck » Read more  

Myth #4 The burden of proof rests with the consumer to validate information contained on your credit report.  The opposite is true under the Fair Credit Reporting Act, both federal and various state laws REQUIRE that the credit agencies bear the burden. Myth #5 It is illegal or immoral to have the information on your » Read more  

I was in a Continuing Education class a week or so ago given by a mortgage company.  They gave 10 myths of credit repair that I thought you might find interesting and maybe valuable.  I’m going to give them over the next few days so the blog isn’t too long.  If you have any questions » Read more  

More than a year after the global financial meltdown, Fannie Mae and Freddy Mac remain at the center of the U.S. government’s efforts to keep real estate afloat.  So far, the government has given the two companies a total of nearly $111 billion to buy mortgages originated by others, keeping some as investments and repackaging » Read more