Improve Credit Rating After Foreclosure

by Morgan

Regarding Improve Credit Rating After Foreclosure: Kate, What is the best way to improve your credit rating after a home foreclosure? And is it possible to get another mortgage loan? How can I repair my bad credit after foreclosure?



Kate Answers: Improve Credit Rating After Foreclosure

Dear Morgan, Repairing your credit after a mortgage foreclosure is important to your future. Congratulations for addressing the need to improve your credit rating now.

On mortgage loan applications, everyone must answer whether they have been through a foreclosure in the last 7 years. But time alone does not repair credit. I never recommend passively waiting for 7 years to pass, dreaming the time will magically fix a credit history.

Don't get discouraged either. With a little effort, following these steps can lead you back to being a homeowner, hopefully sooner than later.

I'm just beginning a series of credit repair advice. With all of the foreclosures due to the mortgage crisis and the meltdown of many subprime mortgage loans, how to repair a credit history is needed by many Americans.

You know, it's too bad they don't teach this in our schools. That's why I'm on a mission... A mission to stop mortgage foreclosure... A mission to help a homeowner fix a credit score... A mission to help Americans discover the magic of buying a house.

Take a little break to go through the pages I've underlined. You'll find entertaining information from me, Kate, your mortgage insider, to help with fixing bad credit and getting your best mortgage.

Best Wishes,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the free RSS feed so you won't miss any helpful credit repair advice being added daily.

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You can also ask Kate about your mortgage at How to Improve Your Credit Rating with Amazing Success.

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