(To download the complete power point from Go Clean Credit, please click photo above)
I recently came across this article which reminded me of a blog I wrote nearly 1 1/2 yrs ago (Click here to read) and I decided it’s time to revisit this topic since CREDIT SCORES and how they are CALCULATED are such a MYSTERY to most.
PLEASE BE SURE to click on the photo above as it’s only 1 slide of many that literally breaks down how our CREDIT SCORES are determined and gives great advice on what you can do yourself to improve your scores.
CREDIT SCORES are so important since everything we do in life seems to go back to your CREDIT WORTHINESS- from the rate you get on a car or mortgage loan to whether you get hired on by an employer or get approved for a lease to what you get quoted for your insurance rates and so much more!
It’s imperative we educate ourselves and our children because it really is a huge key component to getting the material things one wants in life!
A little over a year ago, I had the pleasure of having Dawn McCraw, owner of Go Clean Credit, speak at one of our Buyer Workshops and she shared with our group the above power point. I’d never had it broken down so simplistically before so please share this valuable information with anyone you care about.
In my blog I wrote, I have the link to where one can pull their 3 reports for FREE with no impact to their scores (FTC Website), so my advice to you is to first pull your reports and see if everything on there is correct- if not, file an online dispute to get whatever erroneous information off of your credit report which will undoubtedly improve your score. Second step, is to go through the Power Point above and compare your report to the breakdown of credit and create a plan to follow the advice to improve your score yourself!
You can always hire a firm like Dawns to help, but it’s really easy and I recommend only paying for credit repair services when you’ve already done these steps and can’t improve your score any further without professional help. I’ve seen Dawn’s work in action and last year she helped one of our clients purchase her first home by removing $20k of “bad” credit with the help of an attorney in her office, so her program does work but there is so much each of us can do ourselves without the help of a professional.
For my PAST SHORT SALE CLIENTS- this is so important to do because many lenders reported SHORT SALES by mistake as FORECLOSURES- so please get online and pull your reports to verify the information on there is correct and do the steps outlined above to get your scores as high as possible so if you want to buy a home again, you’ll be able to without a problem! (waiting periods are 2-3 yrs after the closing of a short sale for most low to no down payment mortgage loans)
Please feel free to call our office for any advice on this topic! 480-243-4242 We are always happy to help- any way we can!