 |
The DebtStomp CodeAuthor: Scott Ryan
This podcast is for anyone who wants to get rid of ALL their debts, including home loans, years or decades faster and save 10s of thousands or even 100s of thousands in interest on their debts. This is to be done ethically and certainly legally and without bankruptcy or debt negotiation. The Secrets of Debt Elimination happen here! Language: en Contact email: Get it Feed URL: Get it iTunes ID: Get it |
Listen Now...
#5 "Your Credit Rating: The Secrets Your Banker Doesn't Tell You" Part 1
Episode 5
Sunday, 17 May, 2020
If you want to know how a creditor decides to let you have a loan or not... If you want to know about how the information reported on your credit report affects you... If you want to know how to massively improve your credit rating whether it is presently good or not... ...this podcast episode is definitely for you. Scott Ryan will give you a behind-the-scenes look at what goes on with your credit information so you can avoid pitfalls and know the do's and don't's of establishing, building and maintaining an excellent credit rating. Scott has a unique perspective having been a top mortgage broker in the debt consolidation-elimination mortgage business for 30 years. Working in the trenches obtaining mortgages from the mortgage lenders for thousands of people with all types of credit, he learned the subtleties of how credit ratings and reporting affected his clients' ability to get the best one. When arranging these mortgages, he arranged his mortgage lenders into three tiers: 1. Prime lenders - banks, trust and insurance companies - lenders with the best rates, term and conditions. 2. Secondary lenders - Finance companies with looser guidelines for mortgage approval, but higher interest rates. 3. Private funds - or hard money, individual people who just want to make a better secure return on their investments than what is typically offered or realized in the typical investment markets. These three groups all serve an important function and, of course, have different lending guidelines which include the very important element of credit as reported in the three major credit reporting agencies. Scott will show what all this means to you in this, the first of a two-part podcast. In this Part One, he will cover... - elements lender look at when considering your loan - why good credit is important - credit reporting agencies - what is reported on CB - permissions required - hard vs soft pull - what is good credit - what is bad credit - reasons bad credit happens Since credit is SO important in your life, you'll want the best credit you can get. Scott will show you how to do it easily starting with this foundational information which, he promises, won't be boring!
