I tell my first-time buyers that if you want to buy a dream home, YOU CAN! All you have to do is follow my simple system for success. Notice I did not say "INSTANT" success. Because the process isn't instant, it does involve some time and work. But anyone who truly wants to be a homeowner can, if they are persistent in following the steps.
Several years ago, back when homes were more affordable (as they are becoming again), I taught a First Time Home Buyer seminar. Most of my participants eventually bought houses. Some immediately, but some didn't buy until 2 years later. It doesn't matter how long it takes, as long as you stay on the right TRACK!
One of the first steps I advise is to get a copy of your credit report with the FICO score. Be aware of the contents. Correct any inaccuracies. Monitor it regularly for errors. Upgrade it by paying bills on time and other techniques to raise your score. I even brought in a rep from Consumer Credit Counseling, a non-profit agency, to demonstrate the specifics about credit reports.
Unfortunately, the lender doesn't care how nice you are, how clean you keep your house, or your contribution to society. The lender cares about 1 thing: Your FICO score. Yep, it's true, you are boiled down to a numerical value. So that number better be a good one!
I've worked with some of my homeowners to get bad stuff off their credit report so they can qualify for a loan and buy their dream house. It was a lot of work, and in the process, I learned a lot about credit reports and removing data from them manually.
I also found out that most lenders offer a RAPID RESCORE, which will correct an error, remove it from their credit report, and re-score their FICO within 72 hours. Because they are not supposed to charge consumers for this service, many lenders won't let consumers know about it because they won't get reimbursed for their expenses. But it works like a charm, I've used it several times with buyers.
These days, I prefer to make better use of my time by allowing professional attorney services to handle credit repairs and upgrades for my clients. Recently I discovered Best Financial Solution, thanks to top real estate trainer Brett Noel. Check out his new SlideShare (aka online PowerPoint presentation), I thought it was awesome:
For more info, contact Brett at BrettNoel@TopProducer.com.
Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice
Regina P. Brown
Broker, Realtor®, e-Pro
Author of eBook "Stop Foreclosure Fast: Solutions to Save your House"
Text copyright © 2009 R.P. Brown, All Rights Reserved
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