Credit Repositories

Experian                                      Equifax                                     Trans Union

P. O. Box 2002                         P.O. Box 740241                         P.O. Box 1000

Allen, TX 75013                      Atlanta , GA 30374-0241             Chester, PA 19022

Tel: 888-397-3742                  Tel. 800-685-1111                        Tel. 800-888-4213

www.experian.com                         www.equifax.com                                www.transunion.com                  

Examples of acceptable documentation include:

oCreditor Letters - must include ALL of the following:

-Letterhead of the creditor

-Account number

-Consumer's name

-Creditor contact name and phone number

-An explanation explicitly stating what needs to be done with the account

oProperly recorded public records such as:

-Certified satisfaction of judgment from the court

-Certified tax lien release from the IRS

-Certified bankruptcy discharge papers from the court

-Any other legal documents that may support the borrower's claim

-Other written correspondence with contact name

Examples of documents that they will not accept:

oCanceled checks

oReceipts for money orders

oAccount Statements

oHand-written letters

oThird party documentation

To BUY a home in today's market meeting with your lender first will save you and your Realtor time and give you the competitive edge you will need to have an acceptable offer.

First Saturday - Fire in Ice

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Things That Affect Your Credit Score – Do’s and Don’ts

1. DO pay your bills on time. - Never be more than 30 days late.
2. DO pay down your debts.
3. DON'T close your accounts
4. DON"T open any accounts unless absolutely necessary
5. DON'T file bankruptcy or foreclosure if at all possible - Both stay on your report for 10 (Ten years)
6. DO file disputes forms and have errors deleted from your report.
7. DO attempt to delete negative credit through negotiation when possible - Avoid credit repair scams.
8. DO communicate with your creditors if you are having financial issues or problems.
9. DO become an authorized user - WARNING not all creditors report and works both ways on negative accounts
10. DO consider secured credit cards or co-signers when trying to establish credit.
11. DO use QUICK or RAPID RESCORE - there is a fee and must be done though a mortgage company and/or bank.

Your credit score affects every aspect of your financial life including qualifying for loans and mortgages, your interest rates and terms, housing, insurance premiums (auto and life) even employment opportunities in some instances.

Millions of Americans have negative and unverifiable information on their credit report. Repairing and maintaining your credit profile is one of the most important financial decisions you can make for yourself and or your family. 

You need to take the important step of understanding and taking control of your credit. There are Federal laws in place to ensure that you can repair problems on your credit report and increase your credit score. These laws are found in the Fair Credit Reporting Act.

Be proactive in 2012 , understand your rights and make the commitment to start today.

PART 2

In the next installment , we will provide you with the contact information directly to the credit bureaus to receive your FREE credit report (In the state of Maryland) and how to file a dispute form.

PART 3

In the last installment , we will provide you with what documents and information the banks will accept to explain credit issues and/or errors on your report before they will APPROVE your mortgage.

Ok ......... Are you ready ? Did you create your business plan for 2012 during December or did you exhale and just enjoy the Holidays ?

We all tried to create a BIG push to launch us into next year and we all ran into the same obstacles ! Right ?

Too much food , Too many parties , Too many days shopping for the perfect gifts within our budgets .... OR NOT. We all had the best of intentions , but the pretty lights and sales kept calling our attention away like the songs of the mermaids.

So now is the time to get focused , the "SPRING" market is just around the corner and you want to be prepared and ready to go. The kids are back in school , so the morning routine should force you to get up and get going. Here are a few tips to get you back on TARGET.

• Go into the office early at least 2 days a week -  1 day for meetings and tour, the other for paperwork and administrative
• Schedule one late day - Don't go in until Noon , but work appointments that evening or return calls, make calls
• Schedule OPEN Houses - But make sure the houses have heat !
• Wear your Realtor , company pins, name tags everywhere you go !
• Play with your Social network - 1 hour a day utilize ActiveRain, Tweet , FB, LinkedIn or any other network you are plugged into
• Find FREE internet applications that can boost your business - Postlets.com, Trulia, etc.
• Write or Review your business plan and start implementing it.
• Only you can close 5, 10 , 15 ....  more deals this year , just like only you can loose 5, 10 or 15 pounds !

Have fun and watch your business become "ON TARGET" and then maybe you will enjoy all of December next year and have your plan completed by Thanksgiving !

This is valuable information for those that are relocating or even purchasing a home in the Washington DC Metropolitan area. Our price points  and median income put us at the top of the scale in regards to FHA loan limits.

Roy is always on point when it comes to keeping us updated with the latest and greatest information