I watched CNN last night and Paula was talking about piggyback to increase your credit score... It looks wrong to me but at the same time it lookls very appealing for some that needs a better FICO score to get a better mortgage rate.
Piggyback is simple, you find a very trusty person to add you on one of their credit card (you don't get the credit card) and every month when that trusty person pays the credit card, your credit score increase.
Some people call it fraud but so far by law it is not! I can give a credit card to anyone I know if I trust them...
Anyway, it is something to know and to follow up!
Don't forget, a better FICO score = a Good Mortgage Rate = Lower monthly payment on your refinance!
Enjoy!
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