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We encourage all our clients who purchase our homes and have less than
perfect credit to either enroll in a self-help credit repair course, or, for more
difficult cases, we will help by employing an attorney or caseworker to remove items from
their credit reports. We believe our clients are best served when they can
qualify for a loan and stand on their own two feet again! We provide our
financing to meet this goal!
According to Consumer Reports magazine, 48% of consumers have
errors in their credit files, and 12% of those errors are severe enough to
result in credit denial. Many more families have been faced with a recent
financial hardship that has left their credit in a shambles. The reality is that
most Americans must face these conditions at least once in a working life--if
not more. Even though the actual crisis may only last a few months, the credit
fallout can last for 7 to 10 years! That is...if you do nothing.
Regardless of who's to blame, whether it's your fault or theirs, YOU need to
do
something about it. You can restore good credit and stop paying thousands of
dollars in higher interest. You can stop the rejections and become a part of the
mainstream again.
Have You Ever Been Embarrassed By A Bad Credit Rating?
6 out of 10 Americans are victims of a "bad credit rating."
This plague is spread by the credit bureaus and the credit card companies that
entice and trap ordinary Americans, so they wind up facing financial ruin.
Importance of Good Credit...We all know how important credit is in our
lives. Without credit you can't rent a car, book a hotel, travel, borrow money,
get a mortgage? Just to name a few. The list is endless, you get the idea.
How Does Bad Credit Happen?...The story as to how this happens is
similar, and we hear it time and again...A few unwise decisions were made,
then cards got maxed-out, savings were eventually depleted, and before you know
it, you're way behind on your bills.
Then came that fateful day? You got a letter from the collection agency. It
wasn't just a letter - it was a death threat to your very financial life!
What could you do? You shoved the letter in a drawer, tried to forget about it,
and went on with your life.
Then you got more letters from the collection agency, followed by phone calls
every day, sometimes every hour.
The letters and the phone calls all said the same thing: Pay up or your
credit will be ruined. You felt like you were in a bad movie with the enforcers
of a petty racketeer threatening you to pay up, or else!
Even if you paid your creditors in full, every time you apply for credit or
even a job, you are haunted and embarrassed by the left-over scars of late
payments on your credit rating.
Information Credit Bureaus Don't Want You To
Know
The Fair Credit Reporting Act (FCRA)
The FCRA is designed to promote accuracy and ensure the
privacy of information used in consumer reports. Recent amendments to the Act
expand your rights and place additional requirements on Credit Reporting
Agencies (CRAs). Businesses that supply information about you to CRAs and those
that use consumer reports also have new responsibilities under the law.
Here are some questions consumers commonly ask about
consumer reports and Credit Reporting Agencies.
- Q. How do I find the Credit Reporting Agency
(CRA) that has my report?
- A.
Contact the CRAs listed in the Yellow Pages under "credit" or
"credit rating and reporting." Because more than one CRA may have
a file on you it is best to contact the three major credit bureaus:
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Equifax
PO Box 740241
Atlanta, GA 30374-0241
(800) 685-1111
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Experian
PO Box 949
Allen, TX 75013
(888) EXPERIAN (397-3742) |
Trans
Union
760 West Sproul Road
PO Box 390
Springfield, PA 19064-0390
(800) 916-8800 |
In addition, anyone who takes action against you in
response to a report supplied by a CRA. such as denying your application for
credit, insurance, or employment must give you the name, address, and telephone
number of the CRA that provided the report.
- Q. Do I have a right to know what's in my
report?
- A. Yes, if
you ask for it. The CRA must tell you everything in your report, including
medical information, and in most cases, the sources of the information. The
CRA also must give you a list of everyone who has requested your report
within the past year. Two years for employment-related requests.
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- Q. Is there a charge for my report?
- A.
Sometimes. There's no charge if a company takes adverse action against you,
such as denying your application for credit, insurance or employment, and
you request your report within 60 days of receiving the notice of the
action. The notice will give you the name, address, and phone number of the
CRA. In addition, you're entitled to one free report a year if you certify
in writing that (1) you're unemployed and plan to look for a job within 60
days, (2) you're on welfare, or (3) your report is inaccurate because of
fraud. Otherwise, a CRA may charge you up to $8 for a copy of your report.
Even if you have not been denied credit, you may want
to find out what information is in your credit report. Some financial advisors
suggest that you review your credit report periodically for inaccuracies or
omissions. This could be especially important if you're considering a major
purchase, such as buying a home or a car. Checking in advance on the accuracy
of the information in your credit report could speed the credit-granting
process.
- Q. What type of information do credit bureaus
collect and sell?
- A. Credit
Bureaus collect and sell four basic types of information. Identification and
employment information. Your name, birth date, Social Security number,
employer, and spouse's name are routinely noted. The CRA also may provide
information about your employment history, home ownership, income, and
previous address, if a creditor requests this type of information.
Payment history
Your accounts with different creditors are
listed, showing how much credit has been extended and whether you've paid on
time. Related events, such as referral of an overdue account to a collection
agency, may also be noted.
Inquiries
CRAs must maintain a record of all
creditors who have asked for your credit history within the past year, and a
record of those persons or businesses requesting your credit history for
employment purposes for the past two years.
Public record information
Events that are a matter of public record,
such as bankruptcies, foreclosures, or tax liens, may appear in your report.
How We Can Help Improve Your Credit
& Get You Into The
Home Of Your Dreams
-
Q:
Why are we so willing to help?
A: We have been there before! Now
look at us, we have more buying power than many doctors, bankers or attorneys.
Ensuring your re-finance help us get our profit out of the home! So we indeed
have good motivation to help you.
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We feel it is important and if you are willing to put in the time
to correct the problem...we want to help people who will help themselves!
Besides, who said we "give" this away? We make money when you
re-finance us out of your loan and reduce your payments! We get our money back out of the home. We would
rather see that you get the home than try and find another Buyer. Some investors
like this technique, find a Buyer, take their money and then find another Buyer
- and they do it over and over again. We would prefer to get the satisfaction of
helping you and simply buy another house (or two) with the proceeds.
-
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Q: What is involved to repair my credit?
A: This is the most common question asked and without being too
complicated - IT DEPENDS ON WHAT IS ON YOUR CREDIT REPORT. Take heart though,
you may be able to repair/remove virtually anything on the credit reports. Further, since
you are purchasing the home with Owner Financing from us the bank looks at our
loan with you as a mortgage, and, if you pay on time, you will have less
restrictions (credit scores included) on getting a permanent low-cost loan in your name
and thereby reducing your monthly payment too! Plus,
you have developed some equity in the property which should lessen the money
needed to re-finance and very little, if any, may be required out of pocket!
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Q: How much does credit repair cost?
A: Another very good question. That again depends on the amount of
information we will have to correct. In some cases simple letter writing
techniques will work. In other cases an attorney or caseworker will be required to ensure
removal of items placed on the credit reports. Either way, since we are helping
you and we have been through this before, it will be easier than trying to do this on
your own! Besides, we have a vested interest in your success! For simple letter
writing techniques our FREE course is adequate and there is no cost to our clients!
If we have to employ an attorney or caseworker, the costs can be between $500 - $1,500.
Still quite reasonable when you consider you will SAVE MORE THAN THAT ON
INTEREST THE BANK WILL CHARGE YOU IN THE FIRST YEAR OF YOUR LOAN ALONE!
The attorney we use gives us a "No-Risk" Guarantee so you cannot lose!
If they cannot remove it - you are not charged! We will pay the fee in advance
and take it out of the final closing.
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Q: This sounds great! How do I get started?
A: Go to the Apply Now! link and find Step One or click Take
Me To Step 1 find out how much home your income can afford, fill out an
application by going to Step 2 or click on Take Me
To Step 2 and then go to the Our Homes section
and find a home. If we do not have a home to your liking you can request a home
by going to the Find Me A Home! link.
Then move into your new home and get started repairing your credit once you get settled.
When you are ready to get permanent low-cost financing let us know because we
have mortgage brokers standing by! It's never been easier!
Disclaimer:
Home Sweet Home,
LLC makes no warranty as to the validity of
credit repair services or companies that provide credit repair. Some companies
have very good information but may not be able to complete the process. We have
established relationships with specific vendors in order to provide this service
to you as an added benefit of being our client. You may opt to use any merchant
you select. However, we will only contribute to the fee for companies we have
worked with in the past that produce good results. You are welcome to try anyone
you wish. If you do find one that merits our attention, please let us know.
See also
Disclaimer page.
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