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Starting the domino drop

By Barry Bridges

Real Estate Broker/Owner with Barry Bridges Weichert Realtors Bridges & Co.

May 07, 2008 09:02 AM

We have been working with a lot of first time home buyers. I have been surprised to find how many have things on their credit records that should be taken off because they have been satisfied or can be easily cleaned up. This made me think of two things right off the bat. First is that we can sell some homes that would be sitting. That means they stop paying rent and we get a payday. Second is that then the seller can move up and then that seller can move up........ Get with you mortgage broker ( ours is in house so that is way cool ) and see if they will spend some time on credit repair. Lets start the dominos falling. Any takers?

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Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Barry. I like the way you are thinking. Trying to stir the pot a little. Keep it up.

Ken

May 07, 2008 09:07 AM

James Jeter

Cardinal Financial Company, Limited Partnership - Carrollton, TX

James Jeter

Hey Barry - A real estate pyramid scheme! Just kidding! Until recently I was serving two masters: doing mortgages and doing credit repair. The problem: someone always got lost in the shuffle. I wasn't able to focus on mortgage clients because I was working on credit repair or I wasn't focusing on my credit repair clients because I was busy running my loans through an AU or talking to lenders. If you're a small company that does only one or two loans a month, it may work for you. But I felt I could take care of my clients more if I stuck with one profession. Since my referral base was primarily subprime canidates, I elected to focus on credit repair and send my mortgage clients to mortgage professionals who could focus on their needs. I'm sure taking care of your clients are important to you. Just as you have a mortgage broker who takes care of your clients' lending needs, maybe you should team up with a credit repair specialist that can take care of their credit needs. With our experience and trademarked process, we can get them loan ready in as little as 3 to 6 months (sometimes sooner). I love your passion in wanting to get the market moving. This industry needs some movers and shakers right now. Let me know if I can shake the industry with you.

James Jeter

888-292-2525 ext. 311

May 08, 2008 12:30 PM

Chuck Willman

Chuck Willman - Alpine, UT

NewHouseUtah.com

It's amazing the quantity of fringe buyers there are... with a little bit of credit repair they could be in this market buying at outstanding prices.

May 09, 2008 11:11 AM

Debbie Summers

Charles Rutenberg Realty - New Smyrna Beach, FL

I always ask buyers to talk to a lender sooner than latter... It seems that there are always surprises on the credit report.... Chuck is right, a little bit of work and they are in the market.

May 17, 2008 07:37 AM