What an amazing time to buy a house. Rates are down. Home prices are low, low, low. Wouldn’t it be nice to re-deploy your assets from that monthly rent check to a mortgage payment on a home you can call your own? It can be done. Credit repair can help.
Wow. This is from yesterday’s headlines. Check it out:
“Freddie Mac’s weekly report said the 30-year fixed rate slipped to 4.44% for the week ended Thursday, the lowest since the government-backed lender began tracking the rate in 1971. Last week’s rates stood at 4.49%, and a year ago it was at 5.29%.”
You Are In Charge of Your Credit
It is one of the comforting laws of nature that effect follows cause like day follows night. If you make an effort, something will happen. Your credit is no exception. You have more control over your credit than you know. Credit repair is about regaining that control. It is about self-empowerment, exercising your rights, and putting it all together to clean up your credit report and improve your scores. It does not matter what your credit report looks like today. Credit repair can get you looking good before you know it; good enough to qualify for a mortgage if that is your goal.
Keep the Boat Steady
The only real prerequisite for credit repair is some reasonable semblance of stability. You must have reached the point in your financial life where you can keep up with your current monthly obligations. There is no point to credit repair if new late payments continue to occur. It is helpful to create a budget and start a savings account to provide a cushion in case of unexpected expenses. Now is the time to keep the boat steady.
Prove Yourself to FICO
When a mortgage lender looks at your credit report, the first thing he sees is your FICO score. FICO loves people that know how to borrow money, manage it right, and pay it back on time. If you want FICO to love you (I know you do) then you need to open a couple of new accounts. Secured credit cards are the way to go. They are cheap, easy to open, you will not get denied, and they will get you some serious FICO love. But you have to manage them ever so carefully.
Manage Your Balances
No big news. Make your payments on time and keep your balances down. Here is a credit repair account management tip that might work for you as you prepare for a mortgage. Use your credit cards once a month in situations where you would have paid cash, such as modest recurring expenses like groceries or gas. When you get the bill pay the balance except for ten dollars. Keep the cards active, keep the balances low, but don’t go to zero.
Leave the Clean Up to Us
Who has time to manage the record keeping involved with crafting and sending dispute letters to the credit bureaus? We do! And no one does it better. If you are not already a member of our credit repair program, get started today. We will dig deep and find the issues that need attention. Let us put our uniquely effective credit repair methods to work for you.