Is Credit Repair Worth it?

By
Mortgage and Lending with Henry J Daniels (936) 228-1944 NMLS #209419

One of the most frequesnt questions that I get when someone is denied a loan or market conditions result in a decline at the last minute is Credit Repair Worth it?

The answer is Yes and No.  You make note if the credit repair company operating in your best interest or are they operating it as a business.  To obtain this information you need to basically interview them as a professional service.  Remember you are hiring them to work on your behalf with the credit bureaus and if they screw it up you are much worse off then you were before.  We have seen the results of the bad side of credit repair where people end up with credit so bad they couldn't get a secured credit card.

As a result we ceased telling people they need to go to a credit repair company to fix their credit and now do it completely in house.  The result is that it is in our best interest to clear the credit problems as quick as possible so we can provide the borrower with a loan also as quick as possible.  As a result we have more control over the transaction and the borrower's credit.  We KNOW at any given time where their credit is.  In practice we also noted that even with relases to the credit repair companies they seldome provide us much less the borrower with updates in a timely manner.  So we can't tell the realtor when to have the borrower start shopping.

If you are having trouble getting a sale closed or as a borrower unable to close on a loan.  Consider contacting us and we can aid you in repairing your credit.  Amazingly many problems can be cured in as little as 3 business days others require much more extensive repair and we handle it all.

In the end if spending a few hundred dollars to fix your credit to get a loan several score of thousands or several hundreds of thousands of dollars isn't it worth it.  If done by the right people... Yes

Posted by

Henry J Daniels, Senior National Mortgage Banker for Goldwater Bank N.A.  he specializes in educating clients on the new realities of today's mortgage lending market and providing solutions to all of your home financing needs.  


If you need Custom Home Construction, Rehab, FHA, VA, USDA, Conventional, Jumbo or Construction mortgage Nationwide he can help you understand all of the options available and provide you with true financing choices.  


You may contact him at (936) 228-1944


  Copyright © 2007-2018 Henry J Daniels

The views expressed are mine alone and do not necessarily reflect the views of any company I may work for.
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