Regain Your Good Credit Life!

“My credit check…,” Jayne stammered, “is not correct. It’s not correct, I tell you! Nobody has sued me…ever! What the hell is this judgment? What is it?”

Jayne was fit to be tied. I feared she would pop a cork or fall into cardiac arrest.

She was freaking out at what appeared on her credit reports.

This judgment reported inaccurately by a car dealer on her two credit reports was NOT hers, she claimed.

And that’s where I come in…to add calm and strategy to any credit report.

And if I can’t handle it, I refer people like Jayne to the big “legal” guns who lock & load, shoving their law degrees into the faces of stubborn debt collectors and credit bureaus that refuse to play by the rules. 

That’s the point of today’s post: to remind you to remain calm while strategically attacking any shocking credit report.

Believe when I say, it’s never as bad as it might seem. There’s always a game plan.

And there always are things you should not do…just as NOT firing off template dispute letters…ever.

Stay away from the all the credit (dis)repair companies pitching their “guaranteed” credit repair miracles straight out of the old-time snake-oil traveling salesman’s playbook.

A few weeks ago (or was it a few months ago), I met Jayne who contacted me off a “Sarasota Realtor” article I’d posted on Google. Jayne wanted to buy a home in Sarasota (FL).

Before we hit the MLS, I asked her about a pre-approval for a mortgage from a mortgage lender (not just a mortgage broker). Turns out she hadn’t gotten pre-approved…yet. Oops, that’s step one, Jayne.

FYI: For Jayne  & everyone else thinking of buying a home, get PRE-APPROVED before you start looking. In today’s market, sellers want to see your pre-approval (and the pink slip to your first born) from a mortgage lender, not just a mortgage broker. The difference is that loan officers work for the mortgage lender and know specific underwriting guidelines. In other words, these loan officers know exactly what the lender requires before approving your application.

The mortgage broker, on the other hand, may or may not know the lender’s lending guidelines. Too many broken hearts result from a mortgage broker’s attempt to get a buyer financed. I prefer going directly to loan officers at the big lenders and knowing my customers will get financed. Too many of my closings were shot down because of desperate mortgage brokers promising something they couldn’t deliver.

When Jayne saw her credit reports, I thought I’d have to call 911.  What Jayne saw on her reports nearly threw her into cardiac arrest.

Fortunately, I was able to calm her down and help her take a deep breath, while we analyzed the shock.

Link the “Read More” link below to discover what we needed to do to help Jayne get the keys to her new Sarasota Real Estate.

[click to read more…]

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