Improve Credit Rating After Foreclosure
by Morgan
(Unknown)
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?
Credit Repair Advice
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,
Your Online Mortgage Advice Friend
P.S. Go to my
Best Mortgage Rate Blog, an entertaining source of mortgage information.
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