Are you worried about credit reporting and what might happen to your credit during the COVID-19 lockdown? Businesses have been shuttered for two months or longer, millions of homeowners are applying for mortgage forbearance due to lost income, and many struggle to keep up with their monthly payments. What do you need to know about credit reporting during COVID-19? Credit Reporting Is Still Happening The government’s consumer watchdog site, The … [Read more...]
Protect Your Credit To Survive Coronavirus
That title is pretty sensational, but there are indications in the American economy that credit scores are going to be very important in the era of coronavirus and COVID-19. That’s not based on speculation; mortgage lenders across America are reconsidering their FICO score requirements for home loan approval, making scores in the mid to upper 600 range less of a sure thing for loan approval than they were previously. For the record, FICO … [Read more...]