Posted by Ed Garcia on August 12, 2003 at 10:13:27:
Matt.
You?re fine for now.
The main thing you want to do as an investor is to control your credit.
Ed Garcia
MORTGAGE BROKER ADVICE NEEDED -TRADE LINES - Posted by MJD
Posted by MJD on August 12, 2003 at 07:40:44:
I’m just about to close on my first home. I’m trying to prepare myself for future real estate investing.
Curent Open Trade Lines-I currently have one credit card, one car payment, and soon one mortgage. My Fico scores hover around 700.
Do lenders prefer for someone to have more open credit lines? Should I get another credit card? How will that affect FICO score? I have a lot of closed credit lines. I have a cell phone monthly plan that doesn’t appear on my credit report
Thanks-Matt