Over the past several months our office has received a lot of calls from potential clients looking for help to clean up their credit in advance of getting approved or pre-approved for a mortgage. In fact, we’ve actually developed a few relationships with mortgage brokers who have begun to suggest us to some of their clients who cannot immediately be approved for a mortgage.
In our office, there are a number of techniques and tools we can utilize to assist with credit repair. Since everyone’s situation is very different, there is no hard and fast answer for everyone, and we prefer to do a sit down or phone consultation for about 15-20 minutes to get a good feel for your individual situation.
After/during this process, we can help go through your credit report and analyze your debts. Depending on whether your problem is a low credit score, a high debt to income ratio, or a combination of both we can probably help.
Again, our solutions vary for each and every situation. For some clients we can dispute items on a credit report, negotiate debts, set up payment plans and also negotiate the reversal of negative reports on credit.
Sometimes there’s an avenue to not only challenge the harmful items on a credit report, but to seek money damages for our clients as a result of these harmful items on their report if they were put there improperly, and not removed timely.
For other clients, we discuss the options of bankruptcy. For some consumers this serves as a “clean slate” approach that will often clear the decks on a lot of old, bad debt. This debt can be credit card debt, medical bills, or many other debts from the past.
Many of our clients are initially concerned with filing for a bankruptcy due to some of the negative stigma surrounding it. Others find it contradictory that a loan officer will tell someone to call us knowing that there’s a chance we will file bankruptcy. The truth of the matter is that most underwriters will be able to approve a mortgage within 18 months to 3 years from the discharge.
If you’re struggling to get a mortgage, and want to clean up your financial situation in anticipation of approval give us a call at (410) 885-6200 to schedule that free initial consultation.