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Credit Score in Ponte Vedra : Real Estate Advice

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  • Home Buying11
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Activity 3
Thu Jun 27, 2013
stephen webber answered:
Your Credit May Not Be As Bad As You Think,

By Stephen Webber Retired After 34 Years of Real Estate For First Time Home Buyers

Most importantly don’t do anything until your loan officer looks it over with you. So many times people do what would seem like a good idea; pay off a past due or pay off a credit card and close the account to later discover they actually lowered their rating.

Loan officers work with credit continually and many times can suggest a notification or two and presto the rating is up. Maybe there is a late pay that didn’t happen or maybe should have fallen of the report months earlier.

They have a very strong incentive. They can’t make a loan unless the credit is acceptable so the experienced loan officers know their stuff.



An article that will serve you well is '#13 Consultation Interviewing Loan Officers' at Your Road Home.com. Also article #5 Your Credit and Financing Your Home.

Choose your loan officer before you allow anyone to fix or monitor your credit. Your loan type will dictate the required rating. Once you know exactly what needs to happen you can direct the requirements, establish a time line and plan your next step.

The shortest path to owning your home.

Most importantly;
Don’t let anything or anyone deter you from your goal of owning your home.

Best of Luck, Stephen Webber Retired After 34 Years of Real Estate For First Time Home Buyers
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Mon Oct 29, 2012
Cullen Canazares answered:
There are actually 2 other companies that offer this service.

1) William Paid in Chicago, with them you pay them your rent each month, then send payment to the landlord. They are really good if you have roommates, as you can split payments and both renters can report. Service is $5 a month.
www.williampaid.com

2) Rental Kharma in Denver does a bank level reporting of data for a $10 one time fee. With rental Kharma you can report up to 2 years of past payment information.
www.rentalkharma.com

3) Rent reporters does a landlord verification of payments each month. I think they charge $10 a month.
http://rentreporters.com/

I'm sure there will be more options in the coming years as reporting rent gains popularity.
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Thu Jul 7, 2011
Jason Hall answered:
Rapid rescore works only on specific accounts with documentation.

The most popular are:
Credit Cards
Collection Accounts

Rapid rescore updates balances to the credit bureaus once paid down. The rescore will take a few days that will increase your credit scores.

Collection accounts are a little trickier. Before making payment on a collection, request a "deletion letter". Once the deletion letter is obtained, then the collection will be removed in a few days through the rapid rescore process.
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