My huge blog on mortgage payment calculator
Creditors were formerly advised to close unused accounts, but this advice is outdated, since leaving unused accounts open increases the amount of credit you have available and improves your ratio of available credit to used credit. Be especially wary of closing very old accounts, since doing so could shorten your credit history, which you want to be as long as possible. If you take these steps, pay on time for the next half year, and do not take on any new debts (credit card, car loan, etc. ), then over the next several months you should see your credit score rise. As you can see, a credit crunch can be an ideal time to apply for new credit and new mortgage loans.