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Saving the Economy with Credit Repair!

By
Education & Training with CreditRepairNurse.com

What a bold statement!  Saving the Economy with Credit Repair!  Credit Repair is one of the most misunderstood aspects of the real estate business.  And yet, without credit worthy clients the market cannot recover.  This is one of the reasons that our recovery will be much slower than previously thought.  As an example, if it takes 2-5 years after a short sale or foreclosure to qualify to purchase a new home it makes sense that in the beginning stages our recovery will be slow.  However, over time our markets will gain momentum as more people who were forced into a foreclosure can again purchase.

Credit repair will play an important part in our recovery.  Just because the loan guidelines say we can purchase a new home 2-5 years after a foreclosure does not guarantee that the individual will be able to qualify for a loan.  Many people become paralyzed after a financial crisis and refuse to use credit thereby stalling their own personal as well as the country's recovery.

Here are some guidelines to think about if you have had a short sale or foreclosure or have clients who have.

  1. Make sure that you keep at least 2 credit cards open and have other installment loans in order to rebuild credit after a short sale or foreclosure.
  2. Make sure you pay all of your accounts on time.
  3. Dispute negative items on your credit reports with the credit bureaus.
So credit repair should become your new best friend.  All of your short sale listings today are new home buyers after credit repair tomorrow! So who wants to learn more about credit repair and how to build a pipeline of future business from repairing your clients credit?
 
Let's rebuild our economy and even save our economy with credit repair!
Show All Comments Sort:
1~Judi Barrett
Idabel, OK

If everyone would repair their credit, it would have to help the economy.  It sure would help folks individual economy when they get their finances in order.

Jul 29, 2011 11:40 AM
Kimberlie Hooker
CreditRepairNurse.com - Phoenix, AZ
CreditRepairNurse.com | Online Software for Credit Repair

Absolutely right!  Hopefully the United States will get their finances in order as well!  But seriously (I doubt the U.S. will stop spending) but if individuals get their own finances in order and can contribute to the economy from a financially healthy place it will definately help the economy.  I also believe that America needs to lean on their entrepreneurial skills to reignite the job market with small businesses!  Credit repair is just a natural progression when people begin to take responsibility (not blame) for where they are today.  Fortunately we live in a country that doesn't put anyone in debtor's prison and allows everyone to start over every 7 years (from a credit standpoint)!

 

Jul 29, 2011 02:31 PM
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

This is a great post.  And, I will reblog it later.  You have some great points here.  Can you help our government, too, who just got downgraded on the S&P?

Aug 05, 2011 02:56 PM
Pam Hills
Innovative Artistry - Kendall, FL
ASP/IAHSP- Stager Miami, FL, Creative Minds Innovatively At Work

This is sooo what I was trying to communicate regarding the flow of the future, except that I wasn't near as effective.  

Some are kicking around the customers that aren't there yet credit wise (& they view as wasting their time),

.... but yet they could very well have been their customer (or another rep's) of yesterday (before the fall) & just need help realigning themselves for the future....  There are many out there that are not the habitual people that do not take their responsibilities. 

Instead of criticizing them, we just need to help them dust themselves off so they can begin again & it is as you say a new base of future clients....& they may well have been really great former clients. 

Thanks for the post!!  I too am going to reblog this...& suggest it too :)

Aug 05, 2011 03:09 PM
Kimberlie Hooker
CreditRepairNurse.com - Phoenix, AZ
CreditRepairNurse.com | Online Software for Credit Repair

Thanks for the comments!  The one fundamental principle of restoring credit is to learn from the past and then move forward.  Specifically, if you were overextended and then had a personal financial downturn that caused you to default then you need to go very slowly when acquiring new debt and focus on keeping expenses that can be controlled as low as possible.  So yes!  I can help the federal government if they could stop bickering long enough to listen!

Aug 06, 2011 07:24 AM
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

Nice and valuable information Kimberlie. Folks can get back to normal but it takes a little effort and the wisdom of good advisers to stay on track toward their goals.

Aug 19, 2011 03:06 PM