- Name
- Hannah Fliegel
- Company
- Foreclosure Options Network
- E-mail
- Contact Hannah Fliegel (Foreclosure Options Network)
- Website
- http://www.foreclosureoptionsnetwork.com
- Office Phone
- (415) 999-9348
- Fax
- (415) 924-4181
- Address
- P.O. BOX 151095, San Rafael, CA, 94915
- Description
- I am a credit restoration expert, providing credit education as well as credit repair services for consumers.
The Credit Restoration Expert
Why every realtor needs a credit restoration expert on their team?
Let's say you have a client who wants to purchase a home and their credit score is 620 and they can afford a monthly payment of $2k. With a low credit score such as 620 your client can afford to finance a house of $333k, plus their down payment.
However, let's say that you actually "qualified" your client properly and they worked with me an I improved their credit score up to 720. Remember they can afford a monthly payment of $2k. Guess what price range home they can now purchase? $395k! Wouldn't you like to sell a bigger better home to each one of your clients?
Are you selling houses or dreams?
Foreclosure Options Network
In 2007 several clients hired me immediately following their foreclosures. I was able to remove the "foreclosure" off their credit reports and recover the 80-150 point hit. I immediately earned the reputation "foreclosure fixer". This may sound great for my business, however I was uncomfortable having clients assume that I will be successful in removing foreclosures 100% of the time. Furthermore, I started to realize that many people didn't need to go through foreclosure at all. In fact their were several options for homeowners facing foreclosure.
I recently finished my book Homeownership after Foreclosure which I provide a free copy to clients when they sign up for credit restoration services with me. Remember, your clients who go through a short sale can re-enter homeownership in 24 months. Fannie Mae and Freddie Mac who set the guidelines for residential lending state that 24 months after a short sale a borrower can qualify for an institutional mortgage. The guidelines are 36 months after a foreclosure.
Credit Essentials
After a property is disposed of, either through a short sale, deed in lieu, or foreclosure in many cases the borrower is then left with the damage on their credit report. These "negative trade lines" can remain on their credit reports for 7 years. However, the consumer can still qualify for a new mortgage in 24-36 months.
The consumer of course has to qualify, money in the bank, a job, credit score. I work with clients to repair and rebuild their credit rating in order to assist them return to homeownership as quickly as possible. We do this through budgeting and credit education. Once my clients complete the Hannah Budget Bootcamp they are qualified to purchase a home and understand the responsibility of homeownership. My goal is to assist families into homes so that they can actually have long term homeownership with a monthly mortgage payment they can afford.
