Your Credit Score: What You Need To Know

July 22, 2011 - PRLog -- Sonoma County Mortgages announces the truth beyond credit scores. Keeping good credit is so often misunderstood that consumers get the wrong information about credit scores.

Consumers need to understand a credit score an indication of how likely you are to default on a debt obligation within the next 30 days. On a scale between 500 and 800 the higher the credit score, the less risk associated with issuing credit. This is how creditors look at credit reports. Sonoma County Mortgages goes into further detail “Multiple credit inquiries do not make your credit score drop, closing out credit cards is one of the worst things consumers do to negatively impact their credit report.” Say Scott Sheldon, a leading North Bay loan officer.

Because our credit markets are still very tight, lenders are looking at credit with more scrutiny than ever before. “We want to help consumers with makes sense financing” says Sheldon. Consumers are generally more mindful of their credit scores. “Bad credit is better than having no credit because it's much easier to fix bad credit than it is to actually get credit in the first place” Sheldon says.

Sonoma County Mortgages also warns consumers about online marketing companies offering credit reports, as well as offers complimentary information for consumers looking to understand how to maintain good credit.

Sonoma County Mortgages is a consumer website dedicated to offering the most current information related to credit and mortgage financing in the marketplace today. The interactive site offers live rate quotes, free credit score information as well as specific underwriting tips related to mortgage lending.

Visit http://www.sonomacountymortgages.com/2011/07/15/creditscore/ for the most accurate in-depth information on the mortgage market today.