While it’s true that your credit score will be adversely affected by these items, it is also true that you can move past blemishes on a credit report.
You may want to consider doing some credit repair or credit restoration. It isn’t hard to do, and when taken step by step, it can be handled in an organized, manageable way.
The first step that you need to do is to get and review your credit report. I’m always amazed by the psychology of just this step.
Most people don’t want to pull their credit report because they “just feel” like it will be bad, and they don’t want to see it.
However, you won’t know where you are at or how to get onto the next phase of recovery until you figure out where you are at.
You have seen all the commercials, and can sing the jingles, for some of the places to get your credit report. There are pros and cons for any of the places you can get your credit report.
The two words of caution I offer here are:
1. You can get an annual free credit report (the one that the government requires the 3 credit reporting bureaus to provide) from annualcreditreport dot com.
However – if you choose this route – it is free, but it then bumps up the time that a creditor has to investigate any of your disputes from 30 to 45 days.
This isn’t a great option, in my opinion. You’ll understand why after you learn about the dispute process.
Also, be aware that this service doesn’t have to give you your 3 digit credit score – which you might want to know.
2. Most of the other services offer you a free 30 day trial period, and then you get “enrolled” in their credit monitoring program. If you aren’t one to keep track of the 30 day trial timeframe, you could end up sucked into paying for something that you wouldn’t normally want to spend monthly money on.
In the next article about your credit report restoration, I’ll talk about how to review your report, what to look for, and how to analyze it.
Thinking about a short sale? Visit www.ShortSaleSuperMan.com for great Chicago short sale information and tips. I can help you short sale your property so you can move on with your life. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thanks for reading this, Phil Buoscio.
Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. firstname.lastname@example.org.
View My homes for sale at www.BetterLivingRealty.com.
Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Buoscio’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on The First Step To Fixing Your Credit After A Chicago Short Sale is provided as a courtesy to our viewers to help them make informed decisions.