Credit Repair – Can it help you?

By
Real Estate Sales Representative with Century 21 Fox Properties

     We all know the mortgage industry, and the requirements to qualify have tightened. The two big areas that affect a majority of the population are credit scores and down payment requirements. In the last 18-24 months, guidelines now require the borrower to have a little better credit score to qualify for the same type of loan program. Also, the required credit score to be granted maximum financing has increased…..most loan programs used to require a 580 credit score and now most loan programs require 620. In addition, mortgage programs do not allow the borrower to ignore as many open collections/charge offs. So the need for credit repair services have skyrocketed to the point where new companies are popping up and advertisements are everywhere. When considering a credit repair company, make sure you are not employing the services of a Consumer Credit Counseling Service (CCCS) that negotiates lower rate/payments as lenders view this as the equivalent of a bankruptcy. Think about this, a bankruptcy court provides relief by forcing creditors to accept a lower payment and a CCCS negotiates a lower payment for you. Both of these are the result of financial irresponsibility and taking on more debt than you can handle….which is not what you want a potential lender to think of you.

Visit www.RealEstateRanger.com for more information or contact the Real Estate Ranger Team

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Georgia Chatham County Savannah
Groups:
Century 21 Active Rainers

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
3,166

Justin Singletary

Ask me a question
*
*
*
*
Spam prevention