How Much are You Willing to Pay for that Poor Credit Score??

How Much are You Willing to Pay

for that Poor Credit Score??

     In a number of my past posts, I've talked of the importance of building and maintaining good Credit and Credit Scores.  In my post, "Are YOU making your financial life harder than it needs to be?", I introduced the fact that many of our daily services and utilities (and their costs) are directly linked to the quality/level of our Credit Scores.  

     In  "What's Your Great American Novel read like?  The clues within your Credit Report" ... I spoke of the many ways that your Credit Report reads much like a map. Only the map is one that shows your financial path, history, and decision-making abilities regarding your debts and credit.

    The message from both posts is simple:  Have good Credit and Credit Scores, you pay less for services and goods.  Have poor Credit and Credit Scores and you pay more IF you've been able to obtain the goods or services at all.  Credit Scores and Credit Reports reveal all of that and more.

The clues revealed within your Credit Report

- See more at: http://activerain.com/blogsview/3771206/-what-s-your-great-american-novel-read-like-the-clues-revealed-within-your-credit-report#sthash.Jg9q4Q93.dpuf

What's YOUR Great American Novel read like?

The clues revealed within your Credit Report

- See more at: http://activerain.com/blogsview/3771206/-what-s-your-great-american-novel-read-like-the-clues-revealed-within-your-credit-report#sthash.Jg9q4Q93.dpuf

What's YOUR Great American Novel read like?

The clues revealed within your Credit Report

- See more at: http://activerain.com/blogsview/3771206/-what-s-your-great-american-novel-read-like-the-clues-revealed-within-your-credit-report#sthash.Jg9q4Q93.dpuf

     A while back, ABC News released an article that adds to the arguments made within each of my posts.  The article proved just how many ways and how hard your piggy bank can be hit by 3 different levels of Credit Scores.  The comparisons shown between each level of Credit "quality" and the expenditures and savings tied to them, were quite remarkable.

     This informative ABC News piece showed the costs and ramifications of those factors as they relate to:

• Auto insurance coverage 
• Auto Loan payments
• Mortgage payments
• Credit Card payments  

     After showing the dollar comparisons, they went one step further and totaled the extra costs revealed for each drop in Credit level.  ABC News called the results revealed "eye-popping".  I simply say, "OUCH!"

     The person with poor credit paid over $4,331.72 extra for their services and debts each year then the example with good credit did.  Just think of what this adds up to over years of having poor credit.  Again I say ... "OUCH!"

     I think it's important that this ABC News report showed differing levels of Credit Scores.  I also think the hard cold facts and numbers shown are hard to overlook or deny.  And they prove that even small Credit Score improvements can make a big difference in dollars saved or spent ... and that the effort to make improvements is one well-worth making.  

     So I say ... If you're looking for the motivation to start the process to improve your Credit Scores and lower your debt, you shouldn't have to look any further than this ABC News article.

    If you're motivated to improve your Credit Scores so you can Buy a Chicagoland Home or Refinance one in the future, contact me.  I'll help get you on the path to savings and successful borrowing.

     *  Hoping to Buy or Refinance a home or Investment Property in New Lenox, Will County, or elsewhere in the Chicagoland area?       
Contact me today!  I'll put my 40 years of mortgage experience and expertise hard to work on your behalf.

     I'm easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Lic. #216987

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

gmundt@goapmc.com

www.genemundt.com

eFax:  815.524.2281

   

              

            

Gene Mundt, Mortgage Originator, an Originator with 40 years of mortgage experience, will offer you exemplary mortgage service and advice when 
seeking Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago 
and the greater Chicagoland region, including:  
The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan,
 Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Channahon, 
Naperville, etc.), DuPage County, the City of Chicago, Cook County, 
and elsewhere within IL & WI.  

Referrals are Welcomed & Appreciated!