Edited By: Leigha Baugham ATLANTA (MyFOX ATLANTA) - The solvency munch that has arisen out of the foreclosure disaster is affecting many Georgians. It's now much tougher to get a allowance with anything less than a deft impute score. So, what qualifies as creditable accept now? Banks look at factors counterpart income, equity and down pay when they consider giving out loans. In the finish month, lenders are starting to deduce a closer look at credit scores.
Thousands of Americans are having a stringy adjust buying a new home, a altered car or even getting a credit card. John McCosh of Consumer Credit Counseling Service said the problem getting creditation is due, in part, to acclaim scores undergoing increased scrutiny. "Things are getting tougher all the time. It bit by bit tightened over the summer and this month, things have certainly changed," McCosh said.
McCosh said, in general, a few months ago a honesty ground of 650 could get someone a subprime loan. Now, a reckon for of 650 will get rejected. On the other end of the scale, McCosh said a reckoning of 700 and up was considered satisfactory and could heap the best cut rates.
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