Credit Repair and Mortgages

For the things that matter credit matters. This couldn’t be more true when talking about obtaining, maintaining or refinancing a home loan or mortgage. Did you know that the whole basis of a credit score is for lenders to determine to chance of you going 90 days late on a loan? A single late payment on your home loan can drop your credit scores up to 100 points! In this article I am going to talk about credit repair in regards to getting, maintaining or refinancing a mortgage. As you will soon find out the first step to getting approved for a home loan depends on your credit reports and scores. The reason I say credit reports and scores is because you need both to meet certain criteria for your home loan to be approved. An FHA loan seems to be the most popular type of loan consumers are applying for currently. Most lenders are looking for a minimum credit score of 620-640 and for most non-medical collections to be paid. Credit repair is a vital tool in assisting consumers to prepare their credit reports for an approval of a loan. […]

By | January 20th, 2013|Credit Repair, Mortgage|1 Comment

Credit Repair in Regards to Foreclosure and Shortsales

Credit Repair and Life Circumstances Credit Repair can be a great tool in recovering credit wise from many life situations such as an illness,job loss, divorce, bankruptcy, foreclosure or short-sale. In this article I want to talk specifically about credit repair in regards to a foreclosure and short-sale. I will talk about the effects a foreclosure/short-sale has on a credit report and score as well as explain life after foreclosure/short-sale. My hope is that this credit repair article will encourage you that there is life after foreclosure/short-sale and explain what that looks like. […]

By | January 15th, 2013|Credit Repair, foreclosures and shortsales|0 Comments

Credit Reports and Credit Repair

Credit repair step #1 get your reports Have you ever bought your credit reports and scores online and then went to your bank to apply for a loan only to find the reports and scores your bank pulled were not even close to the ones you just purchased online? We have all seen the commercials encouraging you to go to their website and purchase  your credit reports and scores. I am sure you have seen the one with the dog’s that are shaped like credit scores or better yet the three guys that sing about credit scores and how their quality of life has been effected by their poor scores.  These commercials encourage you to get your reports and review them as are their known to contain errors.  Credit repair may be on the horizon for you. […]

By | January 14th, 2013|Credit Bureaus, Credit Repair, Credit reports, Credit Scores|0 Comments

Credit Repair with Big Banks or Credit Unions?

Credit Repair and Banking, How do the two relate? You may be thinking what does credit repair have to do with who I decide to have a banking relationship with. Lets take a look at how cred it repair and banking relate and then determine what type of bank would best suit someone who is repairing their credit. As mentioned in the title of this article we are going to be comparing big banks to credit unions. In light of recent proposed debit card fees by big banks and the Move Your Money and Bank Transfer Day movements, now is a great time to compare big banks and credit unions side by side in regards to credit repair. Please know that when I say credit repair I am referring to credit score and report improvement, and maximizing your overall credit profile to ensure you are getting the best interest rates when applying for financing. The connection between credit repair and banking is obvious then, the better the credit score and report the better the terms and conditions you are likely to be offered when applying for financing. […]

By | January 10th, 2013|Banks and Credit Unions, Credit Repair, Misc|0 Comments

Credit Repair, Debt Settlement and Tax Time

Credit Repair and Tax Time. As many debt collectors and consumers already know tax time is a great time for credit repair. Creditors know that tax time typically brings many consumers a large influx of cash that many wouldn’t normally have on hand and as a result offering much lower settlement offers than usual. Creditors usually aim to settle accounts for about 50-70% but lower their settlement offers to 25-50% around tax time. Credit Repair and Debt Settlement 101 When It comes to taking advantage of this great time of year to settle debts one must consider several things when negotiating settlements and working on credit repair. Keep in mind that credit repair and debt settlement are different in regards to the fact that the focus in debt settlement is on saving you money in settling debts while credit repair is more concerned with your credit reports and credit scores. While the two services can work hand in hand most don’t consider the benefits of both when settling debts. […]

By | January 3rd, 2013|Collections, Credit Repair, Debt Settlement, Misc|0 Comments

Credit Repair and the Holiday’s

As you may already know, though you may not be in need of credit repair, my articles are typically written from the view of the credit repair process but can be applied if you have perfect credit and are simply interested in maintaining a great credit standing. It has been my experience that many individuals actually exit the holiday seasons with worse credit and more debt than before the season started. My goal, less credit repair more credit wisdom. The desire to bless our kids, friends and family, fueled by marketing, sales and desire to keep up with the Jones’, leaves many consumers with empty bank accounts and maxed out or several new credit cards. Credit repair may be the next step to those individuals as maxed out credit cards, the opening of new credit cards and possible late payments due to overspending can significantly damage credit reports and credit scores. […]

By | December 30th, 2012|Credit Cards, Credit Repair, FICO Credit Scoring, Misc|0 Comments

The Real Story Behind Credit Repair

The TRUTH About Credit Repair Have you ever wondered what credit repair companies send you when they claim you can erase your bad credit overnight? How about those ads that say you can get any major credit card 100% Guaranteed regardless of your credit? Ads abound almost everywhere (online and off)  selling credit repair books, credit reapir systems and credit reapir secrets to help you fix your credit in a hurry. Many of these programs have claims which read like the covers of supermarket tabloids “In  hours my credit score jumped from 570 to 656 best credit repair ever!”… “Erase bad credit with just our Magic Credit Repair Letters!”. “Create a completely new credit file in 24 hours!” Are these types of claims ALWAYS too good to be true? The answer is “Yes and… no”  While many people would love for you to believe that the only thing that can fix bad credit is time; in reality… nothing could be further from the truth. […]

By | December 28th, 2012|Credit Repair|0 Comments

The Alleged 850 FICO Score

Credit repair not the only answer If I may take a page out of Mint’s Facebook Page “fill in the blanks” for a moment. You are more likely to fill in the blank than to achieve a FICO score of 850. Who is actually scoring FICO 850? Is that even possible? The published score range of the FICO score is 300 to 850. Having said that, the range really isn’t 300 to 850. The range is actually somewhere between 300 and 850. The actual range of the score depends on the variety and generation of FICO score being used to score your credit reports. While credit repair can be a powerful tool to get your score into the high 700’s and above perfect payment history on several accounts is mandatory. […]

By | December 28th, 2012|Credit Scores, FICO Credit Scoring|0 Comments

Credit Repair FAQ

Credit Repair, Can it be done Legally? It is your right and responsibility to assure the accuracy of the items on your credit reports. If information recorded on your credit reports does not accurately represent your behavior as a consumer, then you have the right to request that questionable information be removed from your reports which in essence is an important part of credit repair. […]

Credit Repair & Failing to Properly Validate Accounts

First it’s important to make sure you get reports from all three credit bureaus (Experian, Equifax and Trans Union) so that you have a full picture of your credit history. Some companies only report to one agency. Some report to all three, but if you are committed to repairing your credit, you need all three so that you don’t miss anything. Then go over your credit reports carefully. Check to see that there are no errors such as a bill you have paid, but that is still being shown as owed. People at credit bureaus are human too and make mistakes just like you! If you don’t call attention to these mistakes, no one else will. […]