Below you will find non-arts related on-line resources to get you thinking about home ownership, credit and the improvement of your personal financial situtuation.

Please check back for added resources and the launch schedule for the CreativeMoney Workshops.

CREDIT BASICS
When you apply for credit, there are four primary considerations that will affect a lender's decision to approve or decline your loan application.

These are known as the 4 C's of credit:

1. Capacity
What is your ability to repay the loan? Do you have a job or another income source? Do you have other debts?

2. Character
Will you repay the loan? Have you used credit before? Do you pay your bills on time?

3. Collateral
if you fail to repay your loan, is there something of value that you agree to forfeit? For example, if you are buying your first car/home, it could be used as collateral to insure that you will repay the loan. If you default, you lose your car/home.

4. Capital (accumulation)
What are you worth? Do you have other assets, such as a savings account, car, or certificate of deposit that could be used to repay the debt?

While federal and state regulations govern how lenders determine whether or not to accept loan applications, lenders make the decision primarily based on the 4 C's of credit. How you handle your credit transactions will determine your credit worthiness in the future and will greatly affect your access to credit.

Contact the major credit reporting companies once a year to review your file. The three major credit bureaus are:

Equifax: 800-685-1111
Experian: 800-682-7654
TransUnion: 800-916-8800