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Foreclosure Credit Repair
Penny Said:Removing foreclosure from my credit...?
We Answered:?redit repair work?d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service - buildcredit.ifastnet.com
Javier Said:is it possible to repair credit after foreclosure?
We Answered:Yes, it is possible but it does take time. You need to basically start your credit all over. I recommend paying any other bills you have on time and don't stop paying on time. Also getting a secured Credit Card to start with. You put money in the bank and they give you a credit card with a limit of the amount you brought in. Say you bring in $500 they give you a secured card for $500. Most major banks and Credit Unions offer such a card and after paying on it for six months to a year they let the card become unsecured, (they let you have your money back), but only if your score has increased.
Always pay off the card every month show you are a good risk again, and that you now use credit wisely. Never use more than 30% to 40% of the limit. The more responsible you are with credit, the more credit you will receive, and soon the less you will need it.
You may also want to try using myFico.com and get the credit simulator then run different scenarios through it to find out how to rebuild credit.
Crystal Said:Credit repair help for foreclosure?
We Answered:There is nothing that is going to make this foreclosure go away quickly. If you pay all your bills on time or early for two years, you may get someone to give you a chance.
Unfortunately, you will have to disclose the forfeiture on any mortgage applications for the rest of your life. That doesn't mean you won't get the mortgage but it sure doesn't help.
As for your broker lying, here is some advice for the future: Always request all your closing documents two days before closing. Then read every word on every page. Highlight anything you don't understand or agree with. If you can't resolve it on your own, you are best using a real estate attorney.
Hard lesson but you will be more careful in the future.
Brenda Said:bad credit, home need plumbing repair, expensive, no savings. Any suggestions who could help and I keep my hs
We Answered:Call local plumbers and ask if they have or will be able to do a payment plan in installments. Also ask if they do free estimates before they do the job. Work out the details and hopefully you'll have proper working plumbing and not be stressed out about losing your house. Best of Luck.
PS. You can call your local Habitat For Humanity office and see if they recommend anyone.
Cory Said:How long until a foreclosure comes off your credit report?
We Answered:They're both right----it will stay on your credit report for up to 10 years but, IF you behave and pay all your bills on time and not get into deep debt again for the next 5 years, creditors will begin to not be so judgmental against it. Even so, expect it to effect you negatively for many years to come. There is no way to remove it, either legally or illegally.....all you can do is fly straight for the next several years and wait it out.
Terry Said:When purchasing a foreclosed house, Do banks give credit if the property needs a major repair?
We Answered:No. Foreclosures are sold as-is. They are typically priced to account for the condition of the home already, but if you feel that's not the case, you can try to negotiate a lower purchase price. They will either say yes or no, and you have to decide what you are willing to do.