If you dig in and work diligently then you should be able to improve your CREDIT---not just your credit score---over the next two to three years. How you use your CREDIT is more important than increasing the credit score. In any event, the credit score will naturally reflect your responsible use of credit.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://www.consumer-action.org
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
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Our program is no longer than 180 days (6 months) with PERMANENT deletions and a money back guarantee.
Call or email me today for a FREE consultation!
Darren Sessom, CCRS
Sr. National Consultant
RMCN Credit Services, Inc
Or go to http://www.PrestonWare.com.
He'll be able to give you some suggestions on how to raise your credit score.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
I cannot give you an exact time frame as to how long it would take to increase your credit score, but I do know that a mortgage broker can run your score free of charge provided you eventually work with that broker. The score include all three bureaus which will indicate what steps you'll need to take in order to raise your score to 680 asap. You can also to credit.com and pay a fee and run your score yourself and determine what you need to do. That choice is yours! If you need to be in contact with a good mortgage broker that can help you get a home through various low down payment programs, call me @ 954-557-3416 and I'll be glad to give you his contact info.
ERA Herman Group Real Estate