I Need Help With Credit - Part 2

By
Mortgage and Lending with Movement Mortgage 770-634-4021 NMLS #206275

If your credit isn't perfect, the best action you can take is to say, "I NEED HELP WITH MY CREDIT".  With less than perfect credit the financial impact is substantial.

The first think you need to do is find out exactly what is on your credit report.  By law you are entitled to a copy of your credit report from each of the credit bureaus every 12 months.


i need help with credit

I recommend you start with one of the three repositories, Equifax, Transunion, or Experian.  Go through line by line.  Make sure all of the trade lines (each credit account) belongs to you!  Many times there is mixed information with someone that has a similiar name.  

Once you have identifed the errors, you should contact the creditor and advise them of the error.

DO NOT DISPUTE EVERY NEGATIVE TRADELINE ON YOUR CREDIT REPORT!  This is not going to resolve the issue.

For more information, please give me a call.

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Kathleen Sheehan

Branch Manager

Movement Mortgage, LLC

NMLS # 206275

Georgia Residential Mortgage Licensee #25839

157 Reinhardt College Parkway

Canton, GA 30114

770.634.4021 cell

 

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

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Rainmaker
744,905
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

Good tip.  Also just working on budgeting will help with your credit in the long run.

May 24, 2012 05:26 AM #1
Rainmaker
1,182,180
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Good Morning Kathy, very nice advice on credit. Working with a PROFESSIONAL like yourself is the best start a consumer can make.

May 24, 2012 07:43 AM #2
Ambassador
863,449
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Kathy, I read a good suggestion from Jim Frimmer.  You get one free report a year from all three.  Order one from each one every four months...and you can check discrepancies three times a year. 

May 24, 2012 01:34 PM #3
Rainmaker
565,928
Kathy Sheehan
Movement Mortgage 770-634-4021 - Atlanta, GA
Branch Manager

Chuck, that is a very good point!

Scott, thank you for the compliment.

Suzanne, you are so very smart!  That is usually the advice I give my clients.

May 24, 2012 06:07 PM #4
Rainmaker
780,234
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Very good advice, Kathy.  I think that people don't realize that if you are smart and work with someone, you can even purchase a home a year after a short sale.  I know two people who have already done that!

May 25, 2012 05:59 AM #5
Rainmaker
398,633
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

I like the clients that want you to tell them something that will fix it overnight. :-)  it takes some explaining, but eventually they understand that they didnt get into this mess overnight and it certainly will take longer than 'overnight' to fix it.

May 25, 2012 02:13 PM #6
Rainmaker
1,060,934
Nick T Pappas
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Kathy, great advice...I don't think people realize how important it is to check their credit regularly

May 26, 2012 08:14 PM #7
Rainmaker
565,928
Kathy Sheehan
Movement Mortgage 770-634-4021 - Atlanta, GA
Branch Manager

Ron, I recently spoke with an BK attorney that didn't know about 1 year into a Chapter 13 with trustee approval.

John, that always gets me too!

Nick, it is critical!

May 27, 2012 05:27 PM #8
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Kathy Sheehan

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