| If you have bad credit and would like to get a | | | | credit card debt. You want to raise your credit score |
| mortgage, then read on. We will be looking at easy | | | | as much as you can! Paying off revolving debt is one |
| steps you can take to help your chances of qualifying. | | | | of the quickest ways to improve your credit score. |
| We will also discuss why you should consider working | | | | Pay for delete |
| with a mortgage broker. After reading, you should | | | | If you have older collections, do not just pay them off! |
| understand how you can maximize your chances of | | | | If you do, your credit score may go down because the |
| success. | | | | date of last activity has been renewed. What you |
| Clean Up Your Credit Report | | | | want to do is call the lender and arrange a pay for |
| The most important thing you can do prior to getting a | | | | delete. This is where the creditor agrees to delete the |
| bad credit mortgage is to clean up your credit report. | | | | account from your credit file in exchange for payment |
| Underwriting guidelines are tighter than ever and just a | | | | in full. You want to get everything in writing prior to |
| few points can make a difference in wheter you are | | | | making a payment! |
| approved or declined. You will need to get a copy of | | | | Work with a Mortgage Broker |
| your credit bureau and review it carefully for any type | | | | Now that your credit is taken care of, it is time to begin |
| of error. Make sure that all of your credit card limits | | | | shopping for a mortgage. For people who have bad |
| are reporting accurately. Credit card limits reporting too | | | | credit, working with a mortgage broker makes sense. |
| low is a common credit bureau error and getting this | | | | Because they are only paid if they get you into a |
| fixed can have a big impact on your credit score. | | | | home, they are very motivated to work on your |
| Once you have found the errors in your credit report, | | | | behalf. Try to find a broker who has experience |
| dispute them with the three major credit bureaus. This | | | | working with people with damaged credit. They will |
| process can take up to 45 days, so make sure you | | | | know the individual lenders criteria and be able to steer |
| allow enough time. | | | | you in the right direction. They will also be able to look |
| Pay down debt | | | | at your credit report and make last minute suggestions |
| If at all possible, now is a good time to pay down your | | | | that might improve your chances of being approved. |