Thursday, September 13, 2007
Over my tenure as a mortgage professional, I have searched time and again
for a place to assist my clients in credit remediation. One problem associated
with this subject is your credibility. I wanted to avoid aligning myself with
someone who could potentially damage my reputation.
There are more than 1100 credit repair companies in the United States. The majority
of them are fly-by-night companies that take a consumer's money and disappear.
Beware of the companies who insist they can remove all negative items from a
consumer's credit report. This is almost always impossible. In fact, during
research for the creation of this section, I was very skeptical when speaking
with Credit Resource Corp. for the first time, especially since they were
providing us with a money-back guarantee at such a low point of entry for the
consumer.
Credit
Resource Corp. is a company that specializes in helping a broker's clients
increases their credit score through credit improvement and education. Credit
Resource Corp. has an average success rate of 75-80% overall in removing
negatives from a client's credit report, and averages increasing the client's
credit score by up to 20 points in just one month, with a total increase
average of up to 100 points over a 4-6 month period. The increase can be even more
significant if the borrower participates and follows the consulting advice
given by Credit Resource Corp. at the beginning of the program.
When I heard these numbers, I was immediately skeptical. I asked them
point-blank if Credit Resource
Corp. was for real. However, after hearing about their system and the model
upon which their business operates, it was clear to me that their unique
approach has created a very successful system.
From there, I did significant research. I called eight different people (five
brokers and three consumers) whom Credit
Resource Corp. had worked with in the past. They had nothing but glowing reviews.
Since then, I have started sending my clients to Credit Resource Corp., with great
success.
There are many factors that contribute to a person's credit score. On top of
the work that Credit Resource Corp.
does, they suggest that
the broker tell the client to pay down their credit cards to as close to zero
as possible. NEVER tell a client to close an account, because it is actually
possible to decrease a credit score by increasing the debt ratio.
The fact is, most of what Credit
Resource Corp. can do, the consumer can also do, for free, if they know what
to do. See an article I recently posted on my blog. If
you have questions specific to you or your client’s situation,
don’t hesitate to contact me directly 919-559-3384.
Sincerely,
Ricardo Cobos
Mortgage Loan Officer
919.559.3384 Phone
919.882-3384 eFax
Ricardo_cobos@yahoo.com
http://activerain.com/ricardocobos
(Blog)
