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Credit Score : Nationwide Real Estate Advice

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Activity 838
Mon Nov 12, 2012
Tommy Burris answered:
You would suffer a small drop in points for establishing the new trade line. But over time it will help.
You might see the points come back in about 6 months and see a score increase at the 12 month mark.
All credit profiles are different, so take this answer with that in mind.


Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
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0 votes 5 answers Share Flag
Sat Nov 10, 2012
Robert McGuire answered:
Dbowl9,

There could be several reasons. Stringent requirements of the rental company. Debt to income, a different reporting system than you are looking at. Get together with a local lender and review your report and credit score so they can tell you from their professional point of view what could be the glitch that caused them to dny you for a rental car. Hope it all works out.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
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0 votes 1 answer Share Flag
Tue Nov 6, 2012
Alison Hillman answered:
Hey Sergio-

Most schools started in September, I recommend reaching out to the specific school to ask about late enrollment.

Ali Hillman, Community Manager
0 votes 1 answer Share Flag
Mon Nov 5, 2012
Tammy Hayes answered:
Contact a VA Loan offer. Here is one that I have worked with before.

VA Mortgage Center
Sid Winters, VA Lending Officer
2101 Chapel Plaza Court, Suite 107
Columbia, MO 65203
800-814-1103 x337
swinters@vamcenter.com


Tammy Hayes, Realtor
Green Lion Realty
tammyhayesre@gmail.com
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0 votes 1 answer Share Flag
Wed Nov 7, 2012
Andrew Wilkinson answered:
Hi there AM,

Congratulations on your fresh start. It sounds like things are going well.

If you're just interested in building your credit, I'd recommend that you reach out to your bank, Wells Fargo. I'm a Wells Fargo customer too, and they have Financial Advisers on hand who can help you identify ways to grow your credit score.

The nearest one to downtown Coconut Creek, FL would be on 4901 Coconut Creek Parkway. I recommend that you call ahead and ask for a free appointment with a financial advisor: (954) 786-7024

Good luck AM!

Andrew
Community Manager
Trulia Voices
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0 votes 1 answer Share Flag
Wed Nov 7, 2012
Connie Hladik answered:
Consider a cosigner with a better credit score. I don't know of financing below a 640 credit score.
0 votes 2 answers Share Flag
Fri Nov 2, 2012
Teresa Krawiec answered:
William,
if you need help with credit score please contact American Credit Repair Centers -
Paul Ford 310-903-7934 or email : PaulFord@AmericanCreditRepair.net,
Strongly recommend!
0 votes 3 answers Share Flag
Thu Nov 1, 2012
James McCloskey answered:
Dear Miami Beach:

According to myfico.com " the score ignores mortgage...inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping... {However,] [f]or FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score."

Personally, I obtain my credit from all three bureaus when rate shopping. I advise the lender of my credit scores, debt and income. I then ask for a copy of the good faith estimate so I am comparing apples to apples.

Although this approach does not lead to a pre-approval letter, it allows you to rate shop without lowering your credit score due to multiple inquiries.

If you would like a mortgage broker recommendation, please call me.

Regards,

James McCloskey LLC Realtor
Beachfront Realty Inc.
305-209-2929
http://www.micondosucondo.com
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0 votes 1 answer Share Flag
Thu Nov 1, 2012
Tim Moore answered:
No credit and bad credit are two different things. Go speak with a lender and let them advise you.
0 votes 3 answers Share Flag
Mon Feb 17, 2014
Bobby Atkisson answered:
I am not in NM however, I am licensed in all 50 states with 12 years experience! And we go down to 560!
0 votes 1 answer Share Flag
Wed Apr 23, 2014
Ron Thomas answered:
A Credit Score is actually 3 scores; Your's may be 789, 780 and 770.
A Lender can use any combination to justify their decisions.

770 is pretty terrific score, and 789 is exceptional:
These scores will yield a great Interest rate.
The difference between 770 and 789 is marginal, and nothing to hang your head about.

Good luck and may God bless
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0 votes 9 answers Share Flag
Sun Sep 1, 2013
Anna M Brocco answered:
Was the bankruptcy discharged...keep in mind that when it comes to co-ops, boards do have their own financial requirements that must be met in order to be approved, and each building is different. Consider improving your credit score a bit more and saving up additional money; consult with any local agent regarding board requirements, or directly contact the respective management company regarding board financial policies.... ... more
0 votes 2 answers Share Flag
Tue Oct 30, 2012
Rebecca Noviello answered:
I can't make any promises but I can get you in touch with the right people. Please feel free to contact me anytime on my Cell 570-971-5211.
Regards,
Eric Getz
RE/MAX EDGE
0 votes 4 answers Share Flag
Fri Nov 15, 2013
Daniel Alvarez answered:
Sounds like you are good to go. I'm almost certain that any loan officer would say the same.
0 votes 16 answers Share Flag
Wed Jun 17, 2015
Trevor Curran answered:
Good morning bdremployment,

Many Lenders today require a minimum credit score of 640 to qualify for mortgage financing. If your credit score is less than 620, this is BAD credit.


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. 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
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0 votes 7 answers Share Flag
Thu Apr 28, 2016
Pauline Harke answered:
Hello, Most importantly, you should examine your report for accuracy. Examine all OPEN ACCOUNTS to make sure they are being reported correctly. Also, make sure that all the accounts showing on your report are in fact yours. There is also a section for DEROGATORY credit, in the event you have any. This section will give you details about collection accounts, charge offs, liens, etc. Check this for accuracy as well. Collection items can be removed after 7 years, BK after 10, as well as tax liens. Check prior addresses and names you are associated with. If there are items being reported incorrectly, you can file a dispute with the credit agency (ies) reporting it that way. Just take the report section by section, item by item.
I will be happy to assist you with any credit challenges that you face and provide some guidance as to what needs to be done to improve your score, if necessary. I'm assuming that you are interested in purchasing a home, or renting a home, and you are on the right track running your credit first! As a mortgage consultant I do not charge for this service, and if you would like to discuss, please contact me at Harkegroup@gmail.com
Thank you.
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0 votes 3 answers Share Flag
Sun Sep 29, 2013
Kenneth "Kenny" Bebensee answered:
I believe so. Call any lender of your choice and get pre approved for free. Then pick one of us and get your home. :-)

Good luck.

Kenny
Turtle Creek Realty
0 votes 11 answers Share Flag
Sun Sep 8, 2013
Terry McCarley answered:
This is a question you should address with an attorney. Real estate agents are not qualified to give legal advice.
0 votes 4 answers Share Flag
Tue Oct 16, 2012
Philip Pocknell asked:
0 votes 0 Answers Share Flag
Wed May 13, 2015
Kelly Ward answered:
Hi Thomas,

From what I read, it sounds like you need to work on raising your credit scores first.

Allied Credit Solutions is a Credit Service Organization and we help restore credit, as well as, educate our clients to help them achieve their dream of becoming a homeowner.
Credit Restoration is 100% legal (see FCRA regulations below).

Program Highlights
• 180 days or less (with first set of results in approx. 45 days)
• We investigate directly with your creditors, collection companies, and all applicable court offices (if necessary) (no disputes with credit bureaus)
• 100% money back guarantee (No Results – No Charge)
• We investigate Public Records
• 60% to 85% overall average of permanent success rate!!
• Licensed, Bonded, and Registered with the State

Call or email me for a free consultation

Kelly W.
National Account Manager
Allied Credit Solutions
800 901-8122 ext 211
Kelly@alliedcreditsolutions.com
www.alliedcreditsolutions.com


KNOW YOUR RIGHTS!

The Fair Credit Reporting Act states:
Consumer reporting companies must investigate the items you question within 30 days. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it is required to investigate, review the relevant information, and report the results back to the consumer reporting company. If this investigation reveals that the disputed information is inaccurate, the information provider has to notify the nationwide consumer reporting companies so they can correct it in your file.

When the investigation is complete, the consumer reporting company must give you the results in writing, too, and a free copy of your report if the dispute results in a change. If an item is changed or deleted, the consumer reporting company is not permitted to put the disputed information back in your file unless the information provider verifies that it is accurate and complete.
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