Manage non-real estate credit wisely

Home owners and investors carrying a mortgage have an average credit score of 713, 55 points higher than the average score of those with no mortgage, finds a study by credit reporting company Experian Consumer Direct.  Consumers with two mortgages have an average credit score of 739, 81 points higher than the score of those without.  Ty Taylor, President of Experian Consumer Direct didn’t suggest a reason for the difference but said, "Although consumers with mortgages have an average more debt, they seem to be keeping their credit in check despite the additional financial responsibility.  Higher credit scores can allow borrowers to obtain lower interest rates, make lower down payments, and qualify for nontypical types of loans.

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