Offlinehello, my name is Keven and I'm new to the realestate scene. My question is what is what steps I need to take to start cleaning up my credit and do i really need good credit to purchase a property.
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Steps I need to take to clean up my credit
Posted on: Sat, 08/18/2012 - 14:57
In addition to, "Cleaning up bad credit," it is important to start building new, good credit to offset the bad credit. Get a few credit cards (I can tell you which ones), charge just a little bit on them, and pay them off completely each month. The card companies I am referring to report to the credit bureaus monthly or every three months, so that give you a good chance to start rebuilding your credit.
Also, get a free copy of your credit report at AnnualCreditReport.com, and see if there's anything on there that you dispute, and if there is dispute it with the credit bureau. At least it will show as being "disputed" rather than being shown as "unpaid." Also, see if there's anything on there that can be settled (paid off it's small, or negotiated with the company to be paid off at a lower amount).
Just because your credit report and score are not where they need to be now, that doesn't mean that they can't be in 3-6 months.
Rick Allison, Realtor
Amarillo, Texas USA
Find comps, private lenders and cash buyers nationwide: www.TheRealEstate.PRO
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Phillip Tirone. He's a credit expert. Look him up he is by far the best. He's also got some free material and a blog you can subscribe to for weekly info and tips.
You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do things you think you cannot do. Tough times never last, but tough people do.
See Where The Journey Never Ends At: http://www.deangraziosi.com/real-estate-forums/investing-journals/69250/...
Chase Brooks
www.brooks-investments.com
thank you for your advice and feedback on my question I will take the necessary steps that u mention go get started. This info was very helpful thank you once again.
Thank you for the info I will look up phillip tirone and see if he can help me. Thanks
Find a small bank or any bank in your town that has a second chance program. It will have a 3/4 hour class that you will need to take.Depending on the bank, 25 to 50 dollars to open an account and get a debit card.My bank offered a secured credit card also with a minimum of $200.oo to get the card.Put more on it if you can.Because the credit card is a secured credit card it has a limit of $2500.00.The debit card will have a $200.00 a day limit on it that you can take out of it.After 6 months the debit card limit can be changed to whatever limit you want to set.After 6 months you have to go talk to the bank about changeing the secured credit card to a unsecured credit card.The name of my bank is PNC.
Hope this helps any and all.
All the best
chuck0349