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Credit Score in Bakersfield : Real Estate Advice

  • All684
  • Local Info49
  • Home Buying236
  • Home Selling15
  • Market Conditions21

Activity 5
Mon Jun 9, 2014
Daria Kolomiiets answered:
You just need to find your local real estate agent, who can help you to find a property in your price range. Wish you luck!
0 votes 2 answers Share Flag
Sun Mar 9, 2014
joshjustiniano1 answered:
I have 2 rent to own properties in Bakersfield. When are you looking to move?
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Sun Oct 28, 2012
Trevor Curran answered:
IF your credit score has dropped so precipitously then you are no longer qualified for a mortgage loan. Your Mortgage professional should have been keeping your Prequalification up to date before you made an offer to buy a home.

Only a Mortgage professional reviewing your credit report can guide you as to why your score has dropped so dramatically.

Trevor Curran
NMLS #40140
... more
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Sun Oct 21, 2012
Dee Oliver answered:
Get in touch with a good lender ASAP. They will take a look at your credit and tell you what you need to repair and when you can be in a position to qualify. If you don't know of anyone, give me a call and I will refer you to someone. Good luck. ... more
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Sun Oct 21, 2012
Trevor Curran answered:
Good morning George,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.

It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

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.

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.

Trevor Curran
NMLS #40140
... more
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