You can be in a Rent to Own home sooner than you think

You can be in a Rent to Own home 

sooner than you think!

CALL NOW FOR A FREE DEBT HELP CONSULTATION! (888) 945- 7687

Step 1: Check your credit reports and your credit score
Step 2: Update any erroneous personal information
Step 3: All accounts must show 'Discharged in Bankruptcy'
Step 4: Remove any erroneous information you can from your report
Step 5: Credit report inquiries
Step 6: Know when items can be removed
Step 7: Make sure any new collection accounts that appear after filing are accurate

Most people think that their financial situation will keep them from getting into a home of their own, but we have great news: home ownership isn't just for people with perfect credit or money set aside for a down payment. #GoRentToOwn makes it easy to find a great deal on a home and move in quickly! It can be very difficult to find a Rent to Own Home. There's no central database that has all the homes for rent to own listed so that you can search for the right home. That's where we come in! Simply register your information above to get access to all of the listings in your area! Rent to Own homes are really ideal for anyone who wants to live in the home while they work on improving their credit and financial situation. With a Rent to Own home, you get to "try out" the home and the surrounding neighborhood while you work on fixing any past credit issues.

CALL NOW FOR A FREE DEBT HELP CONSULTATION! (888) 945-7687

Remember, you are never under any obligation whatsoever when you start this process, so get registered and start searching for your dream home today. Yes, this will likely be an unpleasant moment. You will see that your credit score has been reduced by as much as 200 points or more. If you are able to see the positive side, you will get to see the gradual improvement in your score in the foreseeable future. A 750 credit score is the goal. It is attainable. You must constantly remind yourself of your goal. As many clients have said to me, "My score is at rock bottom, so the only direction it can go is up!" Request a credit report from each of three agencies Experian, Equifax and Trans Union at #AnnualCreditReport. You must work to clean up your report with all bureaus. Even though Experian is the most commonly used credit report, you ought to make sure all three are as clean as possible. Once you order your free credit report, you'll be given an option to purchase your credit score from the bureau or bureaus. You can also buy it at #MyFICO.
Even basic information needs to be updated. Make sure you have your residential history accurate and current. It is hoped you can show that you have been living in the same place for numerous years. Rental stability is important. Include your employment history as well. Creditors like applicants with stable employment. These first few basic steps may help improve what future creditors think about your credit request.

You don't want previous delinquent accounts to show continuous, post-discharge delinquencies. The last delinquent payment should be the month after you filed your case. All lines on your credit report should say "Discharged in Bankruptcy" or "Included in Bankruptcy" and show a zero balance. Make sure all the accounts on your credit report are actually yours. Dispute accounts that you do not recognize and legitimately believe should not be on your report.Many people have told me about companies that help you remove legitimate items from your credit report. Meaning, you can remove a negative mark from your credit report based on a technicality. Unfortunately, I have also been told by just as many people that the mark resurfaces after it has been removed. The credit bureau will initially remove the account because of your request, but the creditor simply re-posts the negative account. The account is or was delinquent, and it is more likely than not that the creditor will send that information to the credit bureaus again. Make sure you recognize all creditors that have made inquiries to review your credit report. Many creditors included in your bankruptcy will already have reviewed your credit because you were delinquent on the account before you filed. These are legitimate. But you want to remove any creditor inquiries that you did not authorize or that were not from one of your original creditors.

CALL NOW FOR A FREE DEBT HELP CONSULTATION! (888) 945-7687

Collection agencies will review your credit report when they purchase the account from the original creditor. This is a valid inquiry. Items can only remain on your credit report for a specific period of time. You can notify the credit bureaus to remove items once their time has passed. In general, an account can only remain on your credit report for seven years from the date of last activity. Last activity specifically means the date of last purchase or last payment. This could be a while for some accounts, but you want to know the exact date so that you can get it off the report as soon as it can be removed. When a creditor decides you are not going to pay them, it writes off the account. That usually means that the account is sold to a collection agency that will attempt to collect payments. Many times, these agencies do not receive your bankruptcy information from the original creditor. The collection agency will post a new collection account to your credit report even though you have filed bankruptcy and have eliminated that debt. You need to make sure that the date of that new account reflects the dates from the original debt owed and not from the date it was posted to your account. If the original credit loan was from 2007 and this new collection account posts to your credit report in 2010, you want it to reflect the date the account was opened as 2007, not 2010. That way the account comes off your credit report after seven years from the original date and not from the date it was posted to your report.

These are the first steps to take before you start applying for credit. Make the report as clean as possible. At least you will know that there are no errors that are impacting your credit score more than necessary. Every year more than 1.5 million Americans file for bankruptcy for a variety of reasons. While bankruptcy has many negative effects, it does offer people with devastated finances a fresh start. While most bankruptcies remain on your credit reports for 7-10 years, there are several things you can do to start re-establishing your credit after filing. The first step in managing your credit is to clear your credit reports of errors. Check that your credit reports from Trans Union, Equifax, and Experian have accurately recorded your pre-bankruptcy debts as "Included in BK." Under the Fair Credit Reporting Act, you have the right to dispute inaccuracies. After clearing out any errors in your credit reports it is best to keep a regular eye on your finances and use your credit conservatively. Keep your employment stable, be cautious with spending, and pay all your bills on time. You may want to apply for a secured credit card that can be used in moderation and paid off each month. Secured credit cards use your savings account as collateral for the credit limit and are easier to be approved for than a standard credit card.
As early as 1-2 years after bankruptcy you may be able to receive a home loan. 

The Federal Housing Administration (FHA) and Department of Veteran Affairs (VA) have specific guidelines for accepting borrowers who have filed for bankruptcy. For example, the FHA will insure mortgages to individuals who have filed Chapter 7 liquidation bankruptcy two years after the discharge if "the borrower has reestablished good credit (or has chosen not to incur new credit obligations), and has demonstrated an ability to manage financial affairs." You may want to contact a U.S. Department of Housing and Urban Development (HUD) approved housing counselor or local support program for advice and assistance with purchasing a home. Unfair lenders can sometimes target people recovering from bankruptcy so be sure to research your loan options, know your rights, and read the small print. After 7 years, the accounts that were marked as "included in BK" should be removed from your credit reports. The bankruptcy record itself will be removed after 7-10 years depending on the chapter that you filed. If your records are not removed by the credit reporting agencies automatically, you can send a letter of dispute to have the records taken off your report.

CALL NOW FOR A FREE DEBT HELP CONSULTATION! (888) 945-7687

Disclaimer: 
Disclaimer: All information posted to this site was accurate at the time of its initial publication. Efforts have been made to keep the content up to date and accurate. However, Credit Karma does not make any guarantees about the accuracy or completeness of the information provided. For complete details of any products mentioned, visit bank or issuer website. Editorial Note: The editorial content on this site is not provided by the bank or issuer. Opinions expressed here are author's alone, not those of the bank or issuer, and have not been reviewed, approved or otherwise endorsed by the bank or issuer. Credit Karma may be compensated by companies mentioned through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.