Q&A: is getting credit repair a good idea if planning on buying a house?
Posted in Credit Repair on 01/26/2012 04:51 am by
Question by vmorgan04: is getting credit repair a good idea if planning on buying a house?
how does credit repair work? is it a good idea if you have bad impute and desire to buy a house.
Best answer:
Answer by pamela L
You should repair your own credit. Credit repairing is a good idea, but you do not need to pay a company for what you can do on your own.Try visiting this website, it has good tips on what you can do and some companies that tin help: http://credit.comWhen you go to purchase a home, lenders look at everything-and I mean everything.(I knew a person who was denied for a $ 15 phone charge in kansas) You need to pay off your debts, and keep your attributing cards and early revolving accounts in good standing.Credit repair companies charge stupid fees for their services and sometimes do not serve and you can go into debt over them. Get your credit report from all 3 agencies. Dispute anything if necessary, and start making paymenst through the mail and the mail ONLY to your collectors. Also ask for a letter of deletion (have it removed from your credit altogether)once you have paid it off. Your credit score will slump that is why you need it deleted when you pay it-otherwise activity on an old account is bad.Good luck, there are all kinds of deals for first time home owners and folks with bad credit. Problem is, they are stuck with variable interest rates and that is the reason for the forclosure’s now. Mortgages have doubled or trippled over a course of 2-4 years, that is a divide of $ $ . Try to go for a fixed rate, that way you will know what your payments will be no matter what.
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