For Immediate Release
TrueCredit.com Offers Personalized Loan Rate Analysis Tool Mortgage Simulator Empowers Consumers to Better Understand Correlation between their Financial Situation and Interest Rates CHICAGO, December 8, 2008 – As the U.S. housing market continues to decline, it is more important than ever for Americans to understand the intricacies of their mortgage. Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and about 7.63 million properties had negative equity in September, according to a report by First American CoreLogic. “Whether consumers are refinancing or looking to purchase a home for the first time, now more than ever, it is important for everyone to have a clear picture of where they’re likely to stand with lenders,” said Lucy Duni, vice president of Consumer Education at TrueCredit.com by TransUnion. “TrueCredit’s Mortgage Simulator provides consumers with a snapshot of their most up-to-date credit information as well as a personalized loan rate analysis to show them the interest rates they would qualify for that day.” TrueCredit’s proprietary offering delivers a listing of mortgage rates for which an applicant should qualify, based on a daily nationwide survey of rates from the Heitman Group. Rates are continuously updated so users can check back to see if their rates have changed. The simulator automatically populates your up-to-date credit score and monthly non-mortgage debt level so that consumers have a realistic analysis of their standing. Also included is a "What If" tool designed to help users determine how changing various factors, such as improving a current credit score or debt-to-income ratio, can improve borrowing power. Consumers can purchase TrueCredit.com’s Mortgage Simulator at www.truecredit.com/mortgage and will have full access to it for 30 days. To learn more about credit management log onto www.gotruecredit.com and visit the learning center. About TrueCredit.comSince 1999, TrueCredit.com has helped millions of consumers manage their own credit health. Through a suite of educational materials, free monthly newsletters and easy-to-use products, the company helps consumers understand personal credit management and empowers them to achieve greater financial well-being. TrueCredit.com’s online products include credit reports, credit and insurance scores, credit monitoring, debt management tools and identity theft insurance services. TrueCredit.com is the direct-to-consumer arm of Chicago-based TransUnion Interactive, a subsidiary of TransUnion, a global leader in credit and information management. Manage your credit. Manage your life.SM www.gotruecredit.com
Editor’s Note: for more information or to schedule an interview, contact Aimee Eichelberger, CKPR at 312.568.7324 (aeichelberger@c-k.com).
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