Houston TX – The next step in going over your credit reports is to really rank the items being reported about you to find ones that are the most negative. Rank the negative items with the MOST negative ones given the lowest ranking.
You want to rank the ones that will cause the most damage to your credit score.
Here are the most damaging items (in order of damage amount): bankruptcy; foreclosure; repossession; loan default; court judgment; accounts in collections; payments that are past due; payments that are late; being denied credit; inquiries to open new credit.
One thing to note about disputing things on your credit report – items like court judgments and foreclosures and child support arrears are verified by a different system, and are rarely if ever disputable.
Here is one of the best suggestions that I have seen work well. Take a Sharpie pen, and mark on the unused copy of your report.
Circle the items you are disputing and write a SHORT note about why you are disputing that item – for example “Not my account” or “Not Late.”
I am not advising you to lie or make misleading statements when you write to the credit reporting company. However, I will tell you that if someone is reporting something about you, they should be able to prove that what they are saying is the truth.
The credit bureaus are required to check out and investigate all the disputes they get that are deemed to not be “frivolous or irrelevant.”
What that means is that you need to not dispute every single item on your report right now, and you need to be taken seriously.
This means DO NOT use the dispute form that they sent with your credit report. They see those forms as “frivolous” 9 out of 10 times.
DO NOT use their online dispute center – the credit bureaus don’t take those seriously because they think you can’t be too serious if you just click-click-clicked away to dispute it. Thinking about a short sale?
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (281) 602-8050
Thinking about a loan modification? Our Houston loan modification kit has the instructions you will need to get a loan modification approved with your bank.
Thanks for reading this, Alice Monroe.
Alice is a Real Estate Agent at Corali Realty.
Alice Monroe specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor. Houston TX Short Sales. Houston Realtor.
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Alice Monroe, Corali Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Alice’s personal views and do not reflect the views of Corali Realty.
This information on Fixing Credit After A Houston Short Sale Step 3: Rank Items In Order Of Importance is provided as a courtesy to our viewers to help them make informed decisions.