Home Buying in Stockbridge>Question Details

Elba, Home Buyer in Henry County, GA

What steps do I need to repair any credit damage and be able to purchase a home?

Asked by Elba, Henry County, GA Thu Aug 2, 2012

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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. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


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.


Trevor Curran
NMLS #40140
0 votes Thank Flag Link Wed Oct 24, 2012
I have several links you can use to repair your credit..... IT'S FREE! Don't pay anyone to repair your credit. Call me Max Wright 770-912-5099 Keller Williams Realty Partners!
0 votes Thank Flag Link Wed Oct 24, 2012
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