Credit Scores & Fundamentals course outline:

  • The Cost of Poor Credit
  • 3 Major Categories of “Credit Condition”
  • Accurately know your credit
  • What a creditor needs to loan to someone who has made mistake(s)
  • Precision Credit Group (http://mortgagecreditfix.com/ )
  • Technical stuff
  • Q&A

The Cost of Poor Credit

  • Delayed purchases
  • Higher Interest Rates
  • Ability to buy nicer homes / cars / etc..
  • Inflation
  • Fees, higher payments to creditors
  • Purchases can be “dependent” on the seller of goods and services that preys on poor credit buyers

3 Major Categories of “Credit Condition”

  • Un-lendable / Predatory Loans Only / Hard Money
  • Weak / Poor Credit– Lendable at Less than Desirable Terms
  • Good Credit – Receiving reasonable loan terms
  • If Un-Lendable: BK? Foreclosure? Write off? FIREWALL! Then proceed to “Weak / Poor Credit”
  • If Weak / Poor Credit: FIREWALL! No Lates, Pay Collections, get it to report good monthly

Accurately know your credit

  • Free Annual Credit Report
  • Apply for a Mortgage
  • Warning on third party credit reporting sites (Credit KARMA, FREECREDITREPORT.COM, etc..)
  • Everything needs to be known by you
  • Everything needs to be accurate

What a creditor needs to loan to someone who has made mistake(s)

  • The problem has stopped
  • It wasn’t your fault, or it was an isolated incident
  • The problem is not likely to continue

Credit repair specialists

Precision Credit Group (http://mortgagecreditfix.com/ )

  • Why we like them at Black Diamond Mortgage Corporation

Technical stuff

  • Waiting Periods (BK, Foreclosure, Short Sale)
  • Disputes
  • Credit Depth

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