To repair credit, experts recommend that homebuyers submit all payments on time and pay off all overdue debt. Of course this is common sense. Some of the not so common sense approaches are the following.

1. Keep all revolving debt (credit cards) below 50% (or below 33% is even better) of the Total credit limit; spread it out across different accounts if you must.

2. Never Close out accounts after they are paid off just don’t use them (this has to do with utilization ratios of available credit) If you must close accounts always close the newest accounts first and leave the older well established accounts open

3. Stay away from lending sources that are considered “Finance” companies. It seems that these types of loan sources can actually hurt credit scores in some instances.

4. Dispute inaccurate info on all 3 of your credit reports as well as with the actual creditors…Preferably send a dispute to the creditor first, wait a week and send a dispute for the same account to the Credit reporting agency reporting the inaccurate info.

5. Do not constantly take actions that have your credit pulled like applying for too much credit. Too many credit inquires severely impact your FICO score

If you are going to play the loan and credit game and plug yourself into the system of “institutional lending” you have to play by the rules of the game that are established by the lending and credit institutions. As ugly as that may seem sometimes this is the world we live in. The good news is there are ways for anyone with any credit rating or FICO score to get financed for what ever they want. Albeit sometimes it requires some credit repair and fico score recovery.

The process to recovery is a long one, but it is worth going through in order for homebuyers to obtain a good home mortgage loan. For homeowners who cannot wait out the long process of credit repair, getting a mortgage loan from a lender that deals with bad credit mortgages could be a good option….I just happen to know Many sources that cater to just that need…Feel free to contact me with your questions and concerns I am here to serve YOU.

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