Columbus
OH – The next step in the process of getting a cleaned up
credit report, is the one that takes the least effort, but the most
patience: WAITING.
You’ve done your part to get the ball rolling, and now the credit reporting companies have to do their part.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com
What happens during this phase is that the credit reporting agencies have 30 days to investigate.
I
use the term loosely here because the methodology that they use is not
very investigatory. They take the claims and whittle the dispute down to
a 2 digit code that gets checked against a reporting database called
eOscar for verification.
They are afforded 30 days
to do this step, unless the person disputing has gotten
their credit report from annualcreditreport.com which allows them to
take 45 days to check out your dispute (remember back in an earlier step
where this was discussed – this isn’t the site to get your credit
from!.)
While you wait, remember that whatever your credit score
was before you began this process, you should be doing things now to
improve it.
What I mean by this is that while waiting for the
history part of your credit report to be cleaned up, you work on the
future of the credit report. Take action now to build a better
situation.
First, keep your report clean from this
moment forward. Don’t tarnish it beginning now. Do not
have a single late payment – pay your bills on time.
I know, it’s easier said than done, but it will be important in your future that you did this today. Don’t have any new collection accounts or charge offs.
Don’t,
REALLY don’t, get new inquiries on your credit report – this means
don’t open any new credit cards, store charge cards. No applying for
everything that sounds like a good idea.
Don’t
close any open credit cards. Pay off the credit card -
yes, but close out the account – no. Keep this length of history long on
your report.
And, just wait. The 30 days for the credit bureau
investigation will fly by. Once their 30 days is up, they have 5
additional days to provide you with their findings.
If anything
in their investigation was not verifiable, that item is required to be
removed from your credit report. They will also send you an updated
credit report.
So, watch for their letter to you in your mailbox after you complete the WAITING step. 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.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor.
Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales.
Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
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 Fixing Credit After A Columbus Short Sale Step 7: The
Waiting Period is provided as a courtesy to our viewers to help them
make informed decisions.
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