/Loan

Why Closing an Old Account Can DROP Your Score

It’s a popular opinion amongst those who work with any lines of credit that logic is discarded as often as possible. We’ve seen plenty of cases where someone was utterly dismayed when presented with the information that paying off something like a five-year automobile note actually lowered their score up to 40 points.  Why Does This Happen? The pure and simple answer is completely counterintuitive (see first sentence of blog) but here it is: The bureaus would rather you show consistent payments over years and decades than to succinctly pay it off. The older the trade line the more you [...]

By |2018-06-29T16:35:04+00:00June 19th, 2018|Loan|0 Comments

Quick Close – No problem

A recent client of ours found her dream house in Memphis, TN. It had everything she wanted; a one of a kind house. She knew which rooms the kids would be in. She knew what changes she wanted to make to the house all their own. She could feel what it was going to be like to have her family living in this new house. It would be theirs in about a week. Their loan was approved. They were packing. And just like that… it almost vanished. The Call Nobody Wants Just 7 days before the closing, their lender called. [...]

By |2018-05-14T14:54:17+00:00April 13th, 2018|Loan|0 Comments

6489 Quail Hollow Rd, Suite 106
Memphis, TN 38120
(901) 461-8858