Sarah Marrinan, Realtor®
Realty Group, LLC,
Sarah Marrinan is a Twin Cities Real Estate Agent, complete workaholic, top notch "counselor", mom to two awesome girls, shameless self-promoter and never ending “connector”.
Even though she is seemingly always working, it's a lifestyle, the phrase “it's a career not a job” takes on a whole new meaning.
Most people talk about things they can do, Sarah goes out and actually does them.
Are You Making Mistakes Trying to Repair Your Credit?
Three Common MISTAKES People Make When Restoring Their Credit
1.) A lot of times people wait until they are in the process of getting approved for their home loan.
The problem with this is, if you wait until you are getting approved and you do not have the minimum qualifying score (620) then you will NOT be approved. If you have less than good credit (740) then you will be approved at a much higher interest rate. This WILL affect your overall monthly payment. You could end up paying HUNDREDS of dollars more EVERY MONTH! All because of your credit score. So DO NOT WAIT until you are getting approved to make sure you reflect a good credit score. It may be too late to do anything about it in the time you have before your loan gets processed. You should give yourself at least 3 months to ensure you have enough time to get your credit up to a good score.
2.) People have MAXED OUT credit cards.
Even though you can have negative items removed off of your report, a large part of your credit score is calculated by how much credit you have available. If you have maxed out credit cards it will reflect negatively on your report and drop your score. Try to pay down your cards as much as you can leaving at least 50% available credit. This will show that you have enough credit to cover unexpected changes to your income and shows you have the ability to manage your finances. You are less of a liability.
3.) People DO NOT use a reputable company to help them restore their credit.
When choosing a company to help you fix your credit here are some things to look for.
Their Better Business Bureau rating. Make sure they have at least an "A" rating. Preferably an "A+". This will show they are reputable because you can not buy a good rating with the BBB.
Make sure they have been in buisness at least 10 years. This will show that they have been around long enough to sustain that BBB rating.
Make sure they have documented "proven" results. If they cannot prove how they have helped people with facts and statistics then chances are they have not been successful.
There are plenty of scrupulous, less than reputable companies out there that would love to take your money and not do much to help you, leaving you in a worse position than when you started. However, a company that has all of the above will give you the best chance to get the best results leaving nothing to chance.
To find out more about how to fix your credit and to consult with a credit specialist for free, contact:
Contrary to many beliefs, you CAN raise your credit score in as few as 60 days.