You would need to contact each of your creditors directly to see what your options are. Paying off derogatory debt will help improve your credit score in the long run, but not immediately.
With collection accounts, most of the damage is done when they are initially placed on your credit report. Some collect companies are now reporting you are late each month the debt goes unpaid. This continues to drag on many peopleâ€™s credit scores each month until the debt is paid in full. Until you do that, your credit score has little chance of improving.
To build positive credit, you typically need to have 2-3 trade lines reporting for 12-24 months. There should be no late payments or other derogatory items reported in the last 12-24 months.
Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing
When I see a question like yours posted in a public forum it confirms for me that many folks have been reading and listening and taking the right actions. Fixing one's credit is indeed the first step.
As others have mentioned, calling a mortgage professional can prove benefical. Many hesitate to do this and it is understandable. Perhaps you are more comfortable with selecting from a list of options.
You will find the best resources will be from those lenders who have a history of investing in the local economy via small business loans and home mortgages. These, resutls based lenders are graded "A' and "B' while Bank of America, Chase, Wells Fargo, Citi and Never Ever Bank of Clearwater FL are all graded "F"
Simply enter you zip code or city and select an "A" or "B' graded lender and set up an appointment. They will set up a schedule and program to get you whole again. When it comes time to buy your new home, be loyal to those who got you there.
Do not overlook local credit unions. They will not appear on the list. They are 'hands down' the lowest cost providers of home mortgages.
Contact a Ozark AL real estate professional and get more information..
Don't use that 'Contact' button.
Don't use Trulia email.
Go old school and pick up the phone, if you are serious.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group