How to Avoid the Wall Street Woes?
There is a crisis in the economy. Congress has just rescued banks from billions of dollars of debt. Wall Street has tightened credit markets to main street and stopped writing loans. Gone are the zero down days of lending and replaced with 20% down loans. Credit Ratings for home loans have went from 700 to 740. The big Three (General Motors, Chrysler, and Ford) have cut down on car lease/loans. American Express has cut consumer credit limits in half. This has become a universal problem for everyone. If you have bad credit or good credit the easy credit party is over. Don’t worry there’s help to what you should do to survive the credit crunch and improve your current financial status.
Order Credit Reports-Get all three credit reports from the three major credit bureaus (Exquifax, Experian, and Trans Union) at freecreditreport.com
Get Your Finances In Order-Pay all your bills on time!!! Make sure you pay special attention to medical bills. They are the most overlooked and are the first ones to call and report on your credit report. You don’t want to be denied credit for a $35 medical bill.
Pay your Mortgage or Rent First- People have a tendency of paying all there other bills (utilities, credit card, grocery etc…) first. remember interest even compounds (builds) during that grace period.
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