Navigation Links
Although Interest Rates Plunge, Credit Reporting System Prevents Many Borrowers From Seizing Opportunities
Date:12/8/2008

PLANO, Texas, Dec. 8 /PRNewswire/ -- When the Federal Reserve announced its plan to invest up to $600 billion in mortgage backed securities owned by Fannie Mae, Freddie Mac and Ginnie Mae, mortgage interest rates dropped to their lowest point since February 2008. However, few borrowers may actually qualify for these savings. In addition to tighter lending standards and declining home values, borrowers are also being plagued by the nation's credit reporting system.

According to Rodney Anderson, the country's top producer of FHA/VA loans and the fourth highest producing loan originator, 45 percent of the 1,701 loan applications he received between June and September 2008 had borrowers with at least one medical collection account. "In evaluating these loans, we uncovered a huge injustice against the American public," says Anderson. "The tragedy is that the collection accounts, even those that have been paid in full, are lowering these individuals' credit scores, often to the point that they either can't qualify for a loan, or will have to pay higher interest rates if they do."

A nationally acclaimed mortgage and credit expert, Anderson regularly appears on WFAA Channel 8 Good Morning Texas, and the Evening News of CBS 11 and TXA 21. He also has a weekly radio show to discuss the mortgage industry and provide consumer advice. He explains that medical collections are particularly problematic because of four main issues:

-- Medical billing is a notoriously error-prone arena

-- Many individuals with medical collection accounts never received the bill in question

-- Medical collection accounts customarily remain on a credit report for seven years after the individual has settled or paid the account in full

-- Medical collection accounts can reduce a credit score by as much as 100 points, sometimes more.

"The issue of medical debt plagues the patient-phys
'/>"/>

SOURCE Rodney Anderson
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Although Remicade and Humira Are Being Increasingly Prescribed for Crohns Disease and Ulcerative Colitis, Insurers Are Subjecting Both Drugs to Multiple Cost-Control Strategies
2. Northstar Healthcare Announces Option to Purchase a 60% Interest in The Palladium for Surgery - Dallas
3. Sponsor of Presidential Health Care Forum Has a $4 Billion Conflict of Interest: Kucinich
4. New Survey Finds Strong Public Interest in Prescription Drug Safety Issues
5. Audio: New Survey Finds Strong Public Interest in Prescription Drug Safety Issues
6. Doctors Applaud SCHIP Veto: Bill Supports Special Interests, Not Kids; Almost Half of Funds Go to Doctors & Seniors
7. STAAR Surgical to Purchase Canons Interest in Japanese Joint Venture
8. MedQuist Evaluating Whether a Sale of the Company is in the Best Interests of the Company and its Shareholders
9. TIGroup Acquires Controlling Interest in Healthcare Services Provider
10. Researchers identify molecules with interesting anti-clotting properties
11. Medical Services Gets Significant Interest in Its Dual VScan Test Kit
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/1/2014)... HealthDay Reporter FRIDAY, Aug. 29, ... to two American aid workers successfully cured a group of ... report. The drug, ZMapp, prompted recovery in all 18 ... medication until five days after infection. ZMapp even cured ... even hours away from death, said study senior author Gary ...
(Date:9/1/2014)... Monday 1 September 2014: Permanent atrial fibrillation (AF) ... according to research in more than 6 000 patients ... from Belgium. The findings suggest that a simple clinical ... to better estimate stroke risk. , Ischaemic stroke is ... for over a million deaths and many more disabled ...
(Date:9/1/2014)... The National Association of Hispanic Nurses ( ... DNP, MPH, RN, and Adriana Perez, PhD, Rn, ANP-BC, ... Nursing. They will be inducted with Immediate Past President ... we reported last May. , Our three members will ... American Academy of Nursing Policy Conference in Washington, DC. ...
(Date:9/1/2014)... New York (PRWEB) September 01, 2014 ... store, retrieve, organize and analyze biological and genetic ... of the activity of developing software tools to ... not to be confused with biological computation. While ... better understanding of biology can its related concepts, ...
(Date:9/1/2014)... Parties involved in federally-filed Tylenol lawsuits ( http://www.tylenollawsuitclaims.com/ ... in September, where issues related to claims involving the ... of Pennsylvania, Bernstein Liebhard LLP reports. , According ... Court’s website, the meeting is scheduled to take place ... the latest of several Tylenol conferences that have taken ...
Breaking Medicine News(10 mins):Health News:Monkey Trial Supports Ebola Drug That May Have Helped 2 Stricken Americans 2Health News:Monkey Trial Supports Ebola Drug That May Have Helped 2 Stricken Americans 3Health News:Permanent AF doubles risk of stroke compared to paroxysmal AF 2Health News:Two Additional NAHN Members to be Inducted as Fellows of the American Academy of Nursing 2Health News:Two Additional NAHN Members to be Inducted as Fellows of the American Academy of Nursing 3Health News:Two Additional NAHN Members to be Inducted as Fellows of the American Academy of Nursing 4Health News:Bioinformatics Market: A fusion of Computers and Biological Data 2Health News:Bioinformatics Market: A fusion of Computers and Biological Data 3Health News:Bioinformatics Market: A fusion of Computers and Biological Data 4Health News:Tylenol Lawsuit News: Bernstein Liebhard LLP Notes Upcoming Status Conference in Pennsylvania Litigation 2Health News:Tylenol Lawsuit News: Bernstein Liebhard LLP Notes Upcoming Status Conference in Pennsylvania Litigation 3Health News:Tylenol Lawsuit News: Bernstein Liebhard LLP Notes Upcoming Status Conference in Pennsylvania Litigation 4
... you,re ready to drive again , , WEDNESDAY, Dec. 10 (HealthDay ... wheel again after orthopedic surgery or injury, but knowing when it,s ... , Orthopedic surgeons weigh in on the issue in the December ... , "Deciding when a patient can return to driving is ...
... (OTC Pink Sheets: SNDY ) is pleased to announce that ... by over 10% compared to the same time period for 2007. ... $28,509 for the same month last year. This marks the second ... of October. , , The Mammo ...
... Inc., a leading,provider of software and databases for systems ... Singapore Immunology Network (SIgN) has become a,certified GeneGo Center ... MetaCore, training and advanced support. SIgN COE will ... "We are excited ...
... Facilities , , NEW ... process, a proven commitment to clinical quality earned SigmaCare(R) ... Metropolitan Jewish Health System,s (Metropolitan) skilled nursing facilities. ... nationally recognized nonprofit organization, operates Metropolitan Jewish Geriatric Center, ...
... Pharma Services, Goodwill, , , ... NYSE: MDZ ), a leading provider of products and ... fiscal 2008 performance. , Based on preliminary information, MDS ... of $1,210 million to $1,220 million and adjusted EBITDA in the ...
... Care Insurance While They,re Still Healthy Enough to Qualify , ... If you,ve put off getting long term care insurance, ... new administration,s health plan? "I wouldn,t advise it," says Denise ... (LTCFP), one of the nation,s most experienced long term care ...
Cached Medicine News:Health News:Returning to the Road Tricky After Injury 2Health News:Solos Endoscopy, Inc. Increases Sales Revenue for October 2008 by Over 10% as Compared to Last Year 2Health News:A*STAR's Singapore Immunology Network Is the First GeneGo Center of Excellence in Asia 2Health News:Metropolitan Jewish Health System Awards Electronic Medical Records Contract to SigmaCare(R) 2Health News:Metropolitan Jewish Health System Awards Electronic Medical Records Contract to SigmaCare(R) 3Health News:MDS Provides Update on Fiscal 2008 Performance 2Health News:MDS Provides Update on Fiscal 2008 Performance 3Health News:MDS Provides Update on Fiscal 2008 Performance 4Health News:Obama Health Plan Not Likely to Embrace Long Term Care, Industry Leader Says 2
(Date:8/29/2014)... N.C. , Aug. 29, 2014 The ... (KOLs) can be the difference between a product,s success ... effectively map and stratify KOL targets – and then ... the type of strong relationships upon which successful KOL ... savvy pharma companies have identified internal inconsistencies in their ...
(Date:8/29/2014)... 29, 2014  A Boston Scientific Corporation (NYSE: ... stent removability and preliminary long term stricture resolution ... the August issue of the peer-reviewed journal, Gastroenterology. ... is being conducted in 11 countries and five ... metal stents (FCSEMS) after extended indwell (i.e., up ...
(Date:8/29/2014)... 29, 2014  BC Technical, the nation,s leading non-OEM ... Imaging, a leader in sales, service and installation of ... BC Technical to continue to expand their resources and ... CT modalities. "We are committed to ... Alvarez , president and CEO of BC Technical. "We ...
Breaking Medicine Technology:Implementing a Strategic Thought Leader Management & Engagement System 2Boston Scientific Study Published In Gastroenterology Reports Successful Management Of Benign Biliary Strictures With Fully Covered Metal Stents 2Boston Scientific Study Published In Gastroenterology Reports Successful Management Of Benign Biliary Strictures With Fully Covered Metal Stents 3Boston Scientific Study Published In Gastroenterology Reports Successful Management Of Benign Biliary Strictures With Fully Covered Metal Stents 4BC Technical Acquires Polaris Medical Imaging 2
Operate with confidence. Autosuture is advancing the sate of both open and minimally invasive surgery by providing surgical tools that feel right, function right, and facilitate the right outcome eve...
Operate with confidence. Autosuture is advancing the sate of both open and minimally invasive surgery by providing surgical tools that feel right, function right, and facilitate the right outcome eve...
... the widest offering of single-use instruments on the ... 43cm lengths for Bariatric Surgery. , Dual ... insulation covers the pivot points to reduce the ... 4mm universal cord, which eliminates gapping at connection ...
... The Featured Products ... at Mediflex and are ... modular in regular or ... come equipped with insulation, ...
Medicine Products: