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Commercial Mortgage Loans in DETROIT, MICHIGAN

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Here's what happened when I tried to freeze my credit

The thing is, I need to put a freeze in place at all three, including Equifax. So then I called the Equifax hotline to see if I could put set up a freeze over the phone. An automated voice told me that all lines were busy and I was disconnected. That happened twice.

Later on Wednesday, the company issued a statement that said it was experiencing a high volume of freeze requests and that the system was offline for about an hour to address technical difficulties. But when I tried again on Thursday, I received the same online message.

Defeated, I decided to at least sign up for the credit monitoring service that Equifax is offering, TrustedID Premier. (Initially, signing up for the service limited your rights to sue. But Equifax has since updated its policy. )

A monitoring service might not be necessary if I already have a freeze on my report. Typically, these services alert you if someone has opened an unauthorized account in your name, but only after the fact.

Your credit score could jump in July, but it's no cure-all

Roughly 12 million consumers nationwide will get an artificial bump in their FICO credit score. For most of those consumers, though, the score increase will be fewer than 20 points, according to FICO. That's because many of these consumers have other negative information, such as serious delinquencies or debt collections, on their files, and that information will remain. 

The national average credit score hit 700 as of April, which indicates good credit and is 10 points above where it was before the last recession, according to FICO.

The majority of boosts relating to reporting changes are likely to take place for higher-risk consumers who are in the 350-600 range for credit scores, according to research by VantageScore.  A small bump won't necessarily move someone out of the subprime borrowing category. 

Yet on the margin, it is possible that a boost of up to 40 points could help some borrowers. 

Michigan Mortgage / Bad Credit / HUD homes / HELP!!?

My husband is in Michigan waiting to immigrate us from Canada. He earns approx $3200 net per month, has been at the same job since Nov 2007, but in the same LINE of work for over 10 yrs (owned his own business for approx 5 yrs during that time).


I suggest contacting a mortgage company that does not charge for pre-approval and ask them the questions you pose. http://mumloans.com is an affiliated lender of my broker. According to their website they do not charge for pre-approval.