Skip to main content

Phil Mickelson: What he Teaches us About Credit and Credit Reports

Phil Mickelson:  
What he Teaches us About Credit and Credit Reports  

     I'm a fan of golfer  Phil Mickelson.  I'm not alone.  Phil is one of the most popular golfers playing in the PGA today.

     Now if you follow golf and Phil Mickelson's play, you know that Phil ... well, Phil can make your head spin.  One day he'll have you shaking your head with his choice of club, his decision-making, or loss of concentration.  Just frustrate the heck out of you.  And the next, he'll blind you with the depth of his remarkable talent.  (As I write this, Phil ended his day at the Waste Management Phoenix Open on Thursday, 1/31/2013 with a round of 60.) 

     But because of Phil's history, it came as no surprise to anyone when a few years back, Phil Mickelson's golf play seemed on yet another zig zag course.  Some days good, other days sad.  And at times it began to look to me as though Phil would rather not be on the course.  

    News then arrived during the 2010 season, that Phil Mickelson had  Psoriatic Arthritis, a more rare autoimmune disease disease that causes the body to "attack" itself.  A rheumatologist from Johns Hopkins, Dr. Robert Shaw, said that ...

     "The hallmark of this type of inflammatory arthritis is that it causes you to stiffen with even minutes of rest. So if Phil takes a short water break while playing, his joints would stiffen up.  The fact that Phil Mickelson was even able to play golf, much less compete in a couple of major tournaments with this condition, is amazing.”  

     Now at this point in the post, you must be wondering why the heck I'm talking about Phil Mickelson, a golfer.  Just what does he have to do with mortgage lending, credit, or real estate?

     Here's my connection ...

     I wrote a blog entitled,  "1 More Reason to Have Good Credit ... and Keep Good Credit".    That post related two facts.  #1 ... that many businesses follow the practice of checking the credit of their job applicants prior to hiring.  And #2, that many states are outlawing this practice.  Illinois is one of them.

     Many of the comments I received regarding this post questioned the ethics surrounding the running of credit on a job applicant.  They also raised the question, "does a credit report accurately portray what an applicant's performance might be in their job?"  Especially now, after the housing crisis our nation went through or the financial upheaval of the last few years?

     I say ... think about Phil Mickelson.  The media and many fans (including me) were about to write him off.  They said he'd lost his game.  He'd lost his competitive edge.  He wanted to quit the tour.  And none of it was correct at that time.

     The answer to Phil's problems were to be found in his health.  Something we could not see!  Things were not what we thought or as they seemed.  We didn't know the full story.  And at times, neither does a potential employer ... or a mortgage lender, when simply viewing a credit report.  

      Much has been  written  regarding "extenuating circumstances" in the past few days, and how they effected home owners during the recent housing crisis.  These "extenuating circumstances" are why mortgage lenders ask mortgage applicants for a  "Letter of Explanation" regarding some issues showing on their credit report.  

     Mortgage applicants should look on these "Letters of Explanation" as reasons for hope.  The Letter of Explanation provides them an opportunity to prove ... explain "extenuating circumstances", or why an issue on their credit report does not prove negligence or a pattern of neglect regarding financial responsibilities.

     I wholeheartedly agree that some credit issues should not jeopardize an otherwise good mortgage candidate's access to financing.  Those that suffered financial hardships should be allowed the opportunity to plead their cause and be heard.  To rejoin or forge a life as a home owner.  Why make them suffer longer or needlessly?

     Life is not always fair.  Life is also not always as it seems.  Phil Mickelson is proof of that.  He's come back and been a winner on the golf circuit.  Those that lost a home to short sale or foreclosure can be winners too ...  

     Dreaming of Buying a Home?  Refinancing?  Want to talk over your credit and how you can get back on track to become a home owner in Will County or elsewhere in Chicagoland?  Contact me today!  We'll have that conversation.  We'll take the action necessary to accomplish your dreams ... together.
     I can be conveniently found at the following:
Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281    Skype:  630.219.1316
You are Invited to Follow Me through
any of the Social Media found below:



Popular posts from this blog

Property Addresses: Gettin' Down to the Nitty Gritty

Property Addresses:   Gettin' Down to the Nitty Gritty

Take just a second and read through the following statements ...

“The devil is in the details” 
... "in life, it is often the tiny details that end up 
being the most important"

"Get Down To The Nitty Gritty"

“Little details have special talents in 
creating big problems!” 

“Sweat the details”

"Success is the sum of details"

Details ...Details ... it's all about the details ...
     And I'll admit it, I'm a bit of a nerd about them.  My whole family is.  Details, the intricacies, the little things ... they matter to us.
When I was growing up, a typical conversation (and argument) between my brothers and myself at the dinner table or in the backyard centered around "details".  It didn't matter what the topic was, it was the minor differences ... the details about the topic ... that we argued about.  I'm sure we drove our parents crazy.  
Sports statistics and games ... minutiae rega…

Ready for Fall? It's Arriving Soon

Ready for Fall?  It's Arriving Soon

Friend ...

Maybe it's because football season has started. Maybe it's the kids being back in school. Or because the night air is cooler. But a sense of Fall has arrived here in Chicagoland ...

The Fall Season brings changes with it. Changes in temperatures. Changes to the clothing we wear. Our focus seems to shift with the coming of shorter days, falling leaves, and crisp air.

Fall can be the perfect time to do a multitude of things. You can prep your home for the upcoming winter weather ... or for Fall listing and sale. 

But whether you're moving on or staying put, Fall is a great time to declutter and organize your home inside and out ... and your finances too.

I've googled like crazy to find interesting articles filled with Fall info, ideas, tips, and photos. Articles that will help you usher the Fall Season in at your house. I hope you enjoy reading the articles offered below and that they inspire you to make any needed changes.


Paper or Paperless billing? Which serves YOUR needs best?

Paper or Paperless billing?  Which serves YOUR needs best?

These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 

There are obviously many positives to be found within these paperless services:

Trees are saved  Reduced postage costs  Less paper documentation to organize or save/storePossible rewards for switching to paperlessPayments can often be made/posted same-dayAutomated payments can be set-upMore
But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, there are also negatives to be found within paperless methods.  For some of my mortgage clients, the choice of going "paperless" just hasn't worked well.

 For some, an email or text reminder regarding payment of bills has not been enough. They NEED a paper billing to arrive in their mail. 

Their paper bil…