The Importance Of Checking Your Credit Report

If you are interested in becoming a homeowner but are unsure about your credit history, this article is for you.

America is experiencing a major financial correction.

The economy is in a state of shambles from extending too much credit to sub-prime buyers, people with imperfect credit. Be aware!

In its current state, our economy is trying to re-gain profits and re-cap losses on past loans to people just like you!

Don’t think that because you’ve been through a bankruptcy, a foreclosure, a judgment – any of the worst things that can happen to your credit – you will be denied a mortgage.

The fact is, you may be approved. Banks don’t want you to know that all mortgage loans are far from fair or equal.

The issue of your credit can seem shrouded in mystery, often it appears impossible to understand. This is no coincidence!

In reality, your understanding of your credit score and history isn’t difficult at all, once you know a few things.

First and foremost, there are three separate companies which all do the same thing.

All of your private data containing the history of what you’ve used credit to buy is housed under three sets of roofs, with three separate (and uniquely formulated) tabulations or scores.

Various lenders will use these to decide “how fair” or reasonable a mortgage to extend to you!

All three scores are typically NOT the same, in part, because your history will also vary on each report!

Errors occur when agents mis-type a social security number, when they update their files.

If you’ve ever dialed a wrong number, you know how easy it is for these agencies to put a late payment, a collection status or even a bankruptcy on the wrong credit report!

I have heard estimates as high as one in four American’s credit reports have one or more errors.

Regardless of your credit score, it’s time you realize how BIG an impact it will have on your decision to buy a home!

Why Having Bad Credit Will Mess Up Your Home Buying Budget

We’ve seen some really low scoring home-buyers who’ve qualified for the worst rates, high closing costs (really BAD deals, costing $100’s more than those with higher scores). People back away and spend 6-12 months with a credit repair lawyer, or even with a do-it-yourself kit, and clean up their credit history. The funny part is buyers typically have to be persuaded to do this! They think it’s too expensive, too difficult or they don’t want to take the time. My answer to all these objections is simple: what could be more expensive than paying hundreds too much on a home every month for the next thirty years.

"I just want to share with you my story about how my credit situation. If you are someone struggling with bad credit, then I was walking in your exact same shoes...

And today - if you look behind me - this is the house that I bought.

So, obviously my credit situation has changed.

Basically, while I was in college I ran up my credit cards and acquired a lot of unmanageable debt which destroyed my credit rating.

About a-year-and-a-half ago when I went to try to buy a house, the banks laughed at me and made me feel bad about what happened in college. (They basically implied that I was a deadbeat SCUMBAG even though it really wasn't all my fault).

I knew that I had to fix my credit, but didn't know how to do it myself so I went to Lexington Law.

Now, literally within several months, I was able to purchase a $300,000 new home without any trouble at all obtaining a mortgage.

So instead of going into banks with bad credit and being looked at as a scumbag, the banks were more than willing to help.

In fact, when I applied for my mortgage and the banker ran my credit, he came back and was saying...

"Wow! Sure thing sir. We'd love to help you out."

Lexington Law literally changed my life.

I went from being the person who has bad credit to being the person who is living in what I consider my dream home at age 29.

Some examples of the things that were on my report that are now gone were: all sorts of charge offs, collections, and I even had credit report judgments listed against me (which I heard is one of the worst things you can have on your credit.)

I had basically every kind of negative listing shy of a bankruptcy.

Lexington Law has raised my credit score at least 237 points. I just checked my FICO score which is now a 737. When I started with Lexington Law, it was below 500!"

I encourage anyone struggling with bad credit to pick up the phone and give Lexington Law a call.

 

It was super-encouraging to see my credit score improve each month as the negative items were deleted from my credit reports. I thought some of the bad credit was permanent since creditors misled me into believing that delinquent information would stay on my credit report for the next seven years.

However, through their dispute process and "goodwill interventions," Lexington Law proved it is possible to remove any questionable negative item. (it is the same as pleading 'not guilty' in a court of law).

Additionally, the paralegal assigned to my case showed me other credit rebuilding techniques such as:

• How to add up to three years of positive payment history to your credit with your regular phone or utility bills (these are things I pay each month anyway so it was a real "no-brainer)
  
• How boost your credit score by optimizing your 'Utilization Ratio' - this involves transferring balances and there is a Right Way and Wrong Way to do this
  
• How Lexington Law can erase your damaging credit inquiries (applying for credit puts a small "ding" on your credit. Inquiry Investigation helps you remove these "dings")

Deleting the negative credit items like charge offs and the credit card judgment, combined with the credit rebuilding techniques, rapidly improved my credit score. In fact, in month two my score went up 74 points!

After living with bad credit for so long, it was really encouraging to see that I was making progress in the right direction.

Not only did the attorneys at Lexington Law show me results, they also provided excellent customer service along the way. If you are someone who enjoys that "personal touch", then you may like how Lexington Law assigns a paralegal to your case.

My paralegal (Stephanie) was always available to discuss the status of my case over the phone and email. Even though I didn't expect or ask for it, my attorney would also periodically give me a call to check in.

Here are some strategies Lexington Law used to delete the really stubborn bad credit - such as the credit card judgment:

• Unlimited dispute & delete
• Goodwill interventions
• Escalated information requests
• Debt validation
• Inquiry assist

You can also access you case online anytime you like. (I enjoyed logging in just to see all the deletions!)

If you are struggling with a bad credit score because of negative credit items, then I truly hope that you start repairing your credit today. I know how humiliating bad credit is and I know how easy it is just to 'sweep it under the rug' and pretend it will go away on its own.

I realize that your situation is probably a little different than mine, however, Lexington Law has already deleted questionable charge offs, a credit card judgment, late payments, collection items, and inquiries from my credit report and raised my credit score to a 737!

Here is a shot of my credit score online last month -:

To get started repairing your credit, call Lexington Law today direct at:
1-800-232-2903 (toll-free)

www.LexingtonLaw.com

Or, if you want a Lexington Law paralegal to call you, click here.