Scoring A Change in Rating Credit…
When it comes to making major purchases like buying a home or car, your credit rating plays a big role. The credit industry plans to change the way it evaluates us in determining our creditworthiness. The changes , which take effect this year, promise to be good for some, and not so good for others.
What do the changes mean for your own creditworthiness rating?
We asked First Federal Mortgage Loan Officer KC Haririan to stop by and give us a look at the new system, called FICO-08.
KC talks about the new scoring system, as well as who stands to be affected the most by the changes. FICO-08 is the subject of our first Call on Colleen Netcast for 2008, along with a few thoughts about Shelby County’s real estate market for 2008.
Click the player button just below to listen right now.Â Or, click this link to download.
As always, we hope you enjoy![audio:http://www.calloncolleen.com/podcasts/011108.mp3%5D
David and Colleen