What happens when 2 Loan Officers get together to talk about credit? A fun, informative, helpful conversation that just happened to get recorded happens, that's what! Here's the YouTube link if you would like to watch AND listen in: https://youtu.be/8n5tb-L_huA

Dustin sets up the questions, and we banter about some of the most important aspects of credit. This information matters when you go to get approved for a loan, so listen in and learn as we discuss why credit scores are different from your Credit Karma scores when we pull for a mortgage, what affects your scores the most, and what to avoid doing that hurts your credit scores.

Interview with Dustin Owen: The Loan Officer Podcast and with Regional Manager and LO with Waterstone Mortgage, Orlando, FL

Let's say you are applying for a loan and your score is lower than you thought, than you desire, and than what is needed for the best interest rate possible. There is a term that is important for you to know, it's called a Rapid Rescore and it can save you a LOT of money in interest fees over time if you know about it.  Listen in to learn this term and how it might apply to your situation if you are applying for debt (loans)  in the future.

We have offers coming at us for forbearance on our student loans and mortgages. Listen in- as it has some pitfalls. Major need to know: if you are in forbearance for your mortgage, you may need to pay 3 months of on time payments after the forbearance in order to refinance or get a purchase mortgage loan. Also, a forbearance can effect your score, even though you are not late! Just the act of listing it as a forbearance can negatively impact your score. You need to know a few facts. Give me 8 minutes, I will give you great nuggets of info!

Ever wonder if increasing your credit limit will help your score? Your situation? Your financial snapshot? 

I gotcha covered- listen in to answer if you should get a credit line increase on your credit card. I share when it is best to and not to, and on what kind of card you make the request. Remember me talking about becoming an authorized user on someone else's card? I will compare and contrast these two ways of building your credit and debt utilization as they can have different results. 

There is a difference between secured and non-secured debt. And it reports as such on your credit report as well. Listen in and learn what makes them different and also those differences have in your money and credit goals.

Perhaps you have heard of this term or just wondering if it is possible- if I pay off a collection, can it or will it be deleted? Listen in to learn what can be deleted when paid and what cannot when it comes to collection accounts. 

I am asked ALL the time what underwriters are looking at when they are reviewing credit for approving a loan. There are MANY factors that go into a loan approval, but when it comes to your credit history and report, listen it to learn what is most important to know about what is needed for credit approval.  Other factors go into determining approval, so this episode is a general overview of the credit portion of the application. 

I know how hard it is to get by... just getting through to the next pay day, sometimes we feel really stretched. What happens when your car has issues, and it's the shop (AGAIN!!!) and now you are making repairs and car payments. I know many people, unfortunately due to lack of savings and a cash emergency fund, have to forfeit making their car payment to pay for repairs. After all, what good is paying for a car you can't drive? Well, it has a terrible impact on your credit. Listen in how a late payment becomes a collection, becomes a repossession becomes a charge off or potentially a lien against you. It has some devastating effects, so do whatever you can to avoid being in this terrible situation. Kristi gives some tips to avoid the trap that we often find ourselves in when it comes to our cars.

Is there a difference between a charge card and a credit card? We tend to use those terms interchangeably. However, they are in fact two different kinds of tradelines. And the differences can be quite stark, so listen in and learn what makes them different and what impact those differences have on your credit.

Ever wonder when your credit report will be updated? Is it the first of the month? Is it only once a month? How often and when do my creditors report? Listen in to learn.... I used to think it was the start of the month, starting with a clean slate and recently updated information. Boy was I wrong! Because of the ways your creditor report, your credit score can (and does) change all the time.