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Attracting Clients You Want through Advertising Credit Repair

By
Real Estate Broker/Owner with Azure Tide Realty and Pamela Kemper Florida School of Real Estate

Attracting Clients You Want

Just the other day, a realtor asked me if advertising "credit repair" was bringing me the types of clients that I want to be out with selling houses.

The answer is an absolute "Yes!"

The average credit repair client is the average person.  Put them in a line up and NO you wouldn't be able to pick them out. 

And they buy houses of all price ranges with the average sales price being - well-average.  Of my most recent buyers who have gone thru credit repair, one qualified for up to $140,000, a second qualified for up to $120,000, and a third for up to $130,000.  (For those of you reading this from afar--this is average if not just above average for the average home buyer in Elkhart County, Indiana.)

If these clients are different in any way, I'd say it is the level of appreciation and satisfaction they express upon closing on their home purchase-it overflows!

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Sarah Eubanks
Hill Valley Financial Services - Oregon City, OR
Preferred Oregon Loan Consultant & Notary Public
I can appreciate your attitude of not judging people based solely on their credit.  I have a client right now who was in a sham of  marriage.  Her husband took out credit cards with her as authorized user.  It has damaged her credit, but we are working through it, and she will make a great buyer here soon.
Apr 06, 2008 06:11 PM
Pamela Kemper
Azure Tide Realty and Pamela Kemper Florida School of Real Estate - Bradenton, FL
Pamela Kemper

Sarah, this is the exact sort of thing that causes me to feel so passionate about being open to talking with home buyers (and buyer leads) about repairing credit.  We recently had good success getting a buyer removed as authorized user off an account that was being paid late.  It made all the difference in his getting refinanced for an FHA loan.  Keep me posted!  Pam

Apr 06, 2008 06:26 PM
Ronda Ching Day
Coldwell Banker Pacific Properties - Honolulu, HI
Call "Help Me Ronda" for your Real Estate Needs!

Thank you for sharing your tips on lead generation.  Especially after these next few months, I'm sure we'll see more clients who need help.

Jun 13, 2008 03:59 PM
William E. Lewis, Jr.
William E. Lewis, Jr. & Associates - Vero Beach, FL
As an authorized user, the wife has all the rights and privileges of the credit card and NONE of the financial resposibility. This example is not typical of most credit repair clients as all one has to do in the case of an AU is request removal from the account. Thereafter a simple "not mine'' dispute to the credit reporting agencies will result in an automatic deletion. Barring other credit problems, the wife's score should rise substantially.
Jun 14, 2008 09:45 PM
Brian C. Aber
CreditRepairVIP.com - Littleton, CO
Leading Credit Expert

Authorized Users are not even counted in the TransUnion algorithm anymore as a deterrent to piggybacking.  FICO 08 will continue to have a range 350 - 800, and it will still rely heavily on the amount of debt and payment history. However, FICO 08 will no longer use authorized user accounts in calculating the score.

Jun 16, 2008 03:24 AM
Pamela Kemper
Azure Tide Realty and Pamela Kemper Florida School of Real Estate - Bradenton, FL
Pamela Kemper

To be clear regarding the example I gave above: the problem with our client's credit was that although he was ACTUALLY an authorized user on the account, it was reported as though he was JOINT owner of the account. Therefore it was hurting his score and his approval for FHA as it was recent lates. We disputed it but came back verified. We then sent a validation letter to the creditor who agreed to remove the husband completely from the account.

Jun 16, 2008 02:24 PM
William E. Lewis, Jr.
William E. Lewis, Jr. & Associates - Vero Beach, FL
I was clear on your explanation. When you mentioned that the AU account detrimentally impacted the credit score, I naturally assumed they reported it as a joint account. My guess is that the offending entry was for Bank of America. This institution is famous for reporting authorized users as a joint account and even referring them to outside collection agencies as joint and several liability. Like I stated, though, only a guess on the creditor.....
Jun 16, 2008 02:42 PM
Pamela Kemper
Azure Tide Realty and Pamela Kemper Florida School of Real Estate - Bradenton, FL
Pamela Kemper

FYI: The creditor was Washington Mutual. Thanks! Pam

Jun 16, 2008 02:48 PM
William E. Lewis, Jr.
William E. Lewis, Jr. & Associates - Vero Beach, FL
Washington Mutual is just another name for Providian having bought out the high risk lender a few years ago. Another bottom feeder with high fees and interest rates....
Jun 16, 2008 03:14 PM
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