When you are a short sale agent, you do more than just list homes. Your goal is to understand every option available to the homeowner. You will also need to know the possible legal and tax ramifications so you can give your client the information (not legal or tax advice) that they can then verify on their own. Finally, your goal is to look at the big picture and provide a solution. For example, understanding that the only option for your client is a short sale and then you help them with a rental.

Along those lines, I have been looking into credit repair as an added service to my clients. Imagine doing a short sale and then having the short sale removed within 90 days after it is on the credit report. Well, two years ago I was reading the Fair Credit Reporting Act and came across a couple of companies that claim that they can remove negative items from a credit report by enforcing section 609 of the Fair Credit Reporting Act. Section 609 requires credit bureaus to keep a paper trail of items reported on the credit report. However, this is not done. Remember, they are not disputing the validity of the item being reported, like other companies are doing.

Today, one company sticks out. This company, FICOBOOST (www.ficoboost.net), is now an affliate to our local MLS board. They claim that they can remove up to 22 items a year, including short sales, foreclosures and bankruptcies.

I would like to get some first hand knowledge on anyone who used this company. If anyone used this company or if any of your clients will use this company, please update this blog to spread the word.