Easier Credit Will Pump Up Real Estate Sales

April 30, 2015

This year is a good year to enter the housing market, RealtyTrac reports. But existing home sales fell in 2014, and so far 2015 seems only marginally better.  

A few changes to the credit system might be the answer to pump-up the real estate market. Data from the Federal Trade Commission found that if credit reports had fewer errors, credit scores would be higher.

Moreover, a change underway by the largest credit score provider FICO introduces “a more nuanced way to assess consumer collection information,” helping avoid credit score dings such as an insurance misunderstanding for medical bills, which can lead to better credit scores for many potential homebuyers.

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