Simple ways to raise your credit score

Consumers often are unaware of their credit scores, but giving it some attention could save you thousands on a mortgage.

By G. Jeffrey MacDonald | Correspondent of The Christian Science Monitor

For house hunters aiming to take advantage of today's soft real estate markets, one mysterious number is becoming increasingly fateful – and it's not the seller's asking price.

A credit score, calculated to tell companies whether a consumer is likely to pay bills on time, is taking on more significance in an era of mounting defaults and foreclosures. On a scale of 350 to 850, scores in the 500s were good enough to secure a mortgage just last year. But now, any score below 600 is almost always a deal breaker, according to Jay Brinkmann, vice president of research and economics at the Mortgage Bankers Association, a national trade group for lenders. continue...