Monthly Archives: June 2019

Why Monitor Credit Score? Check it out!

 

 

Monitor Score and Credit – When was the last time you monitored your CPF or checked your credit score or figured out how your credit report looks for improper restraints? If your response is more than a year, we strongly recommend that you do so even today.

Is it worth monitoring credit score?

There are a few many ways the credit score and your score affect your life positively and negatively. A more common example is when you apply for a personal loan or when you make the big decision to buy a home through a home mortgage or even when you are hired for a new job ( this is for sure – employers can check your credit score!) etc.

Your credit history may be the difference between you having a zero or very low interest rate, or bad with interest rates approaching 15 to 19 percent. This is also true – loan for negatives with restriction costs very expensive. Card without consultation as the prepaid in general has very high costs for the holder. Today we will explain why every Brazilian should monitor their credit regularly.

Protecting yourself against identity theft and financial fraud

 

Protecting yourself against identity theft and financial fraud

 

Let’s look at this scenario. You have focused on paying all your bills every month right and have taken all necessary steps to build your credit score consistently and progressively. You’ve been on the right track for the last few years, and decide that it’s time to check your credit score to see how far you have progressed at this time – and find out the worst ” oh no! ”

Your credit score not only has not improved, but has dropped significantly since the last time you consulted. That can not be correct! Upon closer examination, you find that you have a negative enrollment because of unpaid debts from an unfamiliar credit card in your current report.

Although you have no idea that this occurs, thousands of Brazilians are victims of cloned cards and undue solicitations that generate losses of more than 10 million reais in identity fraud every year. Good, and what do you do now? If you find a situation involving fraud in your credit report contact the lender for, ” dispute and eliminate the errors in your history “.

If you have recently been a victim of fraud or you have reason to worry that you may be an easy target, Score monitoring and credit monitoring services can give you the comfort and tranquility you need. The credit monitoring or CPF monitoring, notifies the citizen whenever there is a significant changes in the credit report, you are notified by SMS, email or letter as soon as possible.

Note that this is not a great way to avoid scams, but a great way to respond as quickly as possible if you fall victim to one.

 

Maintain efforts to build credit

 

Maintain efforts to build credit

 

When you are trying to establish and increase your score or rebuild your credit, monitoring your CPF regularly is a great way to safeguard your efforts. The satisfaction of watching the increase in credit score from to good (625-699), to very good (700-799), is truly amazing.

You owe it to your financial future, try to correct any problems that are negatively affecting your score whether it is fraud, forgetfulness or lack of money for payment. Stay on track, stay motivated and keep building your score month after month.

How and where to monitor score for free?

 

How and where to monitor score for free?

 

Historically, it would cost a hefty fee for credit monitoring services. Many Brazilians still think they need to pay a fee to verify this credit information, but the incredible thing is that any citizen can check their score for free whenever they want. There are a few more recent services that allow you to check the credit score and break down any restrictions entered in the report.

Today, websites such as the “Consumer Serasa” and “Positive Consumer” will monitor Score by providing free monthly credit reports. You can check your scores and restrictions on these services in just a few minutes. These are free however there may be sending offers and promotional products such as new credit cards or financial services.

 

Real Estate Loan: hardening conditions?

Banks are selective about granting a mortgage, especially on long terms, bridging loans and 110% loans.

Real Estate Loan  – End of Long Term?

Real Estate Loan  - End of Long Term?

Banks do not lend much more mortgage loans beyond 25 years, and when they do, the rate is necessarily dissuasive. Since the beginning of the year, it is more difficult to borrow for long periods. Some banks have decided to no longer lend over 30 years, simply to refuse files over periods longer than 25 years or have significantly increased the rate to limit the flow of records.

Optimizing the loan setup

Mixed rate loan This type of loan is fixed for a given period (5, 7, 10 or 15 years), then revisable afterwards, most often capped 2. The customer then benefits from a lower rate that allows him to shorten the duration of his loan. This loan avoids the risk of a rise in the interest rate during the first years, years during which the interest to be repaid is the highest. This formula is very interesting for first-time buyers who have a high probability of selling their property before 7 years.

Evolutionary Loan Some banks offer a so-called “scalable” loan that is well fixed rate throughout the life of the loan, but which is accompanied by an automatic maturity adjustment of 1% per annum. As a result, the initial monthly payment , from which the debt ratio is calculated, is lower, which makes it possible to borrow more or reduce the duration of the loan.

Some institutions no longer accept files without contribution or encourage people to sell before buying a new property, this to avoid the excesses of the bridge loan.

Sell ​​before buying!

Sell ​​before buying!

Banks are very cautious in granting a bridging loan allowing an individual to finance a new purchase before selling his property. They tend to downgrade the valuation of assets. Their worries about the evolution of the residential market push them to reduce the amount of the credit relay granted compared to the amount of expertise which often prevents the borrowers to invest again.

Buy-Sell Loan

Buy-Sell Loan

A single credit covering the entire project taking over the old loan and financing the new property. The client is 2 years old to sell his property in the best possible conditions. Once the sale is made the customer has the opportunity to keep up to 20% of the amount of the sale or reinject the entire sale in its loan which allows it to either reduce the duration or the monthly payment.

With or without input?

The most obvious consequence of the tightening of mortgage loans is therefore felt by borrowers with only limited initial capital (personal contribution or first acquisition). The time has passed when it was easy to borrow over 30 years with a personal contribution covering only ancillary costs (notary, guarantee, etc.). The time now seems to be shifted to “zero risk” for banking institutions in which the sovereign debt crisis and the requirements of the new European regulations (Basel III) are heavily felt. Banks are relying almost exclusively on mature acquisition projects guaranteed by surety companies.