I read the newspapers every week... Well at least the real estate section. On April 11, 2009 the San Antonio Express-News published an article titled When the Score matters and I have a few comments about it.
It explains how your credit score can affect your ability to purchase a home and what you can do to lower the interest rate on a mortgage when you purchase a home. My thoughts on this article are directed towards those individuals out there who may be thinking that they will never be able to purchase a home and fear is holding them back. So what should they do?
1. Stop living in fear! Listen up everyone, there is hope out there, but you need to Take Action to help yourself.
2. Get a hold of a Mortgage Banker and have them pull your trimer credit report. With this report that has all 3 of your credit reports on it, you can figure out exactly what companies need to be contacted and what needs to be discussed.
3. Follow-up and Follow-through with all the companies that need to be communicated with.
These companies can be identified with the help of your mortgage banker. Oh, if you are wondering why I specifically mention a mortgage banker instead of mortgage broker is because a mortgage banker has more control of the process from loan application to closing than a broker does.
Sometimes the steps needed to increase your credit score are numerous but sometimes there is a silver lining and only a couple things can be done and the score can be increased quickly. So what are you waiting for? Please contact me via my website at http://www.sarealtywatch.com/ and look at my preferred vendors list.
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