What Everybody Should Know… About How to Repair Credit

Thousands Now Raise Credit Score To Over 700 Who Never Thought They Could

What Everybody Should Know… About How To Repair Credit

Those of you who have the perfect credit score consistently pay your bills on time, keep your overall debt relative to our income, actively and responsibly use your credit cards, and can walk into a bank without any problems in order to secure a loan.

Those of you who do not have the perfect credit score may have a consistent track record of paying bills late, have declared bankruptcy, owe a large amount of non-mortgage related debt, and have a high number of credit cards.

So, how do you fit in to the ever increasing realization of credit scoring?

Are you someone who pays all of your bills on time?

Are you someone who uses their credit responsibly?

Or, are you someone who hit a few rough patches where you fell behind?

Do you have 30, 60, 90 day lates on your accounts?

Achieving credit is not so easy when there are blemishes on your credit record. Trying times have fluctuated your credit card buying. A low credit score has hindered the ability to obtain a car loan with a reasonable payment. High interest on a mortgage is troubling to your financial freedom due to higher payment arrangements.

Well, what is your credit score?

FICO scores range from 350 to 875.

Below a 600 is considered high risk.

Above 800 is considered low risk.

Numerical FICO Score Assists Lenders In Developing A Credit Rating

A+ is a perfect credit rating with a FICO score 750+

A is a credit rating with a FICO score between 680 and 750

A- is a credit rating with a FICO score between 600 and 680

Now, Let’s See How Other Credit Ratings Are Determined

A Slow Decline From A Numerical FICO Score Of 600 Down To 350

B is a credit rating delivered to borrowers who will have 1 or 2 late mortgage payments within 12 months. Several 30 day lates, very few 60 day lates, and no collections or charge offs. Loan to value percentages will range from 80 to 95%.

C is a credit rating delivered to borrowers who will have collections and charge offs on their credit report. Loan to value usually drops to 70% and many of the loans are subsequently given with high interest rates. Mortgage lates are 3 or 4 within a 12 month period and a few 90 day lates have been reported.

D is a credit rating delivered to borrowers who will have a recent bankruptcy or mortgage foreclosure. Loan to value is usually between 60 and 65%.

How Payments Change With Your Credit Score

$20,000 Car Loan Payment w/ a 720 Credit Score = $333
$20,000 Car Loan Payment w/ a 500 Credit Score = $563
Total Difference In Payments = $230 A Month = $2,760 A Year

$300,000 Mortgage Loan Payment w/ a 720 Credit Score = $1,789
$300,000 Mortgage Loan Payment w/ a 500 Credit Score = $2,477
Total Difference In Payments = $688 A Month = $8,256 A Year

What Would You Do With The Extra Money?!?!

Just By Having A Higher Credit Score, You Could Be Saving Hundreds Of Thousands Of Dollars On Your Loans

Find Out How To Raise Your Credit Score NOW!

Discover the ingredients used to determine your level of superiority in the credit world

Get your completely free credit report from the 3 major credit bureaus

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Find out how closing your old accounts can actually destroy your credit score

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Avoiding the dreaded mistakes of a foreclosure process

Pay the principle—not the interest

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Gina Lembeck
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