Anything and everything bad on your credit can be fixed. It's called the dispute process. In my opinion, many lenders incorrectly report credit on consumers all the time.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
What if the consumer doesn't understand how the process works? The consumer suffers unjustly! Just like the banks can work the system for their benefit, you can work the system to your benefit.
The information here is about how to dispute alleged errors. The law says correct but negative information should stay on your report. But, it is completely legal to challenge anything on your credit report.
It does not cost you, the consumer, any money to dispute something. In fact, if the Credit Bureau doesn't follow the federally required procedure to process your claim, they can be liable for up to $1,000.
Here is how to process works.
First, order a copy of your credit report. I prefer the printed version. That way you can read thru the entire report and make notes. You can highlight all the things that need to be fixed.
Next, rank those items by priority. The ones that are doing the most damage should be disputed first.
Here are some common items that negatively affect your credit: Foreclosure, Loan Default, Late Payments, Collections, Repossession, and Bankruptcy.
(A Short Sale will show up on your credit as a Late Payment or "Settled for less than full amount." This is still much better for your credit rating than a foreclosure.)
After that, you will want to dispute the items. Send all your disputes by certified mail. That way you have proof of when you sent the dispute. Then, you wait for the dispute process to be completed.
Tomorrow, I will give more examples of how to dispute a questionable item. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
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Important Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on Is There Any Hope For Your Credit After You Short Sell Your Columbus Home? is provided as a courtesy to our viewers to help them make informed decisions.
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