San Francisco Real Estate - Residential

Credit scores and their impact

In our very first post, we addressed the issue of credit scores and how they affect favorable terms on loan rates. Yesterday, MoneyWatch did an article which says, "Most Americans are at least aware of credit scores and the impact they can have on consumers' ability to get favorable terms on everything from a mortgage to an auto-insurance policy. The problem is, most Americans have little clue about exactly how credit scores work, prompting them to overestimate their ability to manage their credit wisely."

It goes on to explain a little about why this is and what you can do about it. We recommend you read the entire article.

You would also do well to look at these previous article of ours, "How can I change my credit score". In it is a link to our October Market Report for September 2005 in which Jay Bransfield explains what goes into credit scores.

- Mick Orton

posted by SFResidence.com @ 8:03 AM