Saturday, December 03, 2011

A Credit Score That Tracks You More Closely

This week, a company called CoreLogic introduced a new type of credit file, which is based on the giant repository of consumer data it maintains on just about everything that most of the traditional credit bureaus do not: missed rental payments that have gone into collection, any evictions or child support judgments, as well as any applications for payday loans, along with your repayment history.

The new report also includes any property tax liens and whether you’ve fallen behind on your homeowner’s association dues. It may reflect that you now owe more than your house is worth or if you own any other real estate properties outright. It also is supposed to catch mortgages made by smaller lenders that the big credit bureaus may have missed.
Delinquent HOA and property tax assessment payments will make you less creditworthy under this new credit scoring scheme.


Anonymous said...

"Delinquent HOA...assessment payments will make you less creditworthy under this new credit scoring scheme."

And under the "priority of payments" scam that is so common in the HOA industry *, "delinquent HOA assessment payments," also means any arbitrary fine or fee that the homeowners disputes and refuses to pay.

This just gives the friendly fascism of the HOA industry more power to ruin an individual's life, which is what Republicans want. "Do what we tell you to do, or we will issue you an arbitrary fine plus attorney fees, and report you to CoreLogic and hurt your credit score."

* disclaimer: Tom Skiba claims that the Community Associations Institute "through our education programs teaches none of those things", and that implying there is any connection between the CAI and the priority of payments scam is "is an effective way to hurl an untrue fact-like statement to make an emotional argument when you don't have any other logical or factual leg to stand on." So disregard what I say as "a) lies and distortions spread by neighborhood malcontents who couldn’t get along with Mother Theresa, or b) unrepresentative anecdotes that fail to capture the true level of mass satisfaction with HOA life."

Cynthia said...

A few years back, Tom Skiba told me, "he knows there are groups out there (with an obvious affiliation to his organization, and possibly non affiliated) out of control and agreed that innocent homeowners are being victimized and made homeless, when they owe nothing, no one, they are simply targeted for these slappp lawsuits, false allegations, etc...but he doesn't know what to do about them." "If they have a CAI affiliation, association," said Mr. Skiba, "file a complaint with CAI and they will do an internal investigation." "The individual, or whomever could have their credentialed professional designation taken away!" Yeah, sure, but what exactly does that mean? Credentialed professional? Look at who is doing the credentialing. Every office/states Attorney General, I have ever spoken with, advises elders and all, when it comes to any type of scam, "never deal with anyone, any group that self credentials." Well? I would appreciate someone telling me who else "credentials," in this industry? What does "their," credentialing mean and loss of such, I would guess, would be like loosing what? A library card? Shoppers card at the local supermarket? When it comes to innocent, decent people being set up for these scams and property thefts, I believe Mr. Skiba has it all wrong and knows exactly what is going on and who needs to be held accountable. I suspect he may want to start his "house cleaning" and "internal investigations," in Monroe County, Pennsylvania and he needs any help, please do not hesitate to let me know.