Definition of "Credit history"

Mariette Gagne real estate agent

Written by

Mariette Gagneelite badge icon

Marketplace Realty

History of an individual's credit financial transactions including a detailed payment analysis. The creditor history is critical for performing a credit analysis to develop a credit rating. A credit history record of prompt and timely payments is important for a strong credit rating. A credit history is kept by major credit rating organizations and is accessible for a fee by commercial organizations as well as by individuals under terms of the Consumer Credit Protection Act.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The definition of dereliction is the intentional property abandonment or desertion with no hope of returning or recovery of a property. Dereliction is the act of abandonment, neglect of ...

To confirm, ratify, verify, and accept a transaction that can be canceled. ...

Real estate business owned by one person having all the rights and obligations. ...

A loan whereby the lender, in the event of a default, has recourse beyond the collateral pledged to initially secure it. For example, John gave Brian a $50,000 recourse loan using Brian's ...

A relatively unknown term, laches or the” doctrine of laches,” means failure to assert one’s rights or a claim in a given matter in time. Failing to take action on a ...

Fence constructed at the property line or other division point separating a subdivision or a home site. It marks the point of separation between two separate properties. ...

Modification in the amount of money involved for some justifiable reason. ...

Rezoning of land from a higher density use to a lower density use. ...

The definition of property acquisition cost in real estate is the total recorded cost of a piece of real estate after reductions in price, incentives, closing costs and any other ...

Popular Real Estate Questions