If you found actual errors in step one and disputed them with the repositories, you must end those disputes now!   I can not tell you how many times credit repair companies have ruined a mortgage application because of the mass dispute strategy they all seem to use.  You must take care of this prior to entering into the mortgage process. Are your utilities being reported on your credit report?  You can pick up some additional points paying them down early, before the statement date.

Most people believe that they should pay their bills on the due date. This time I share with you one tip that can give you a better credit score every month by never paying your bills on the due date again. By just finding yourstatement date and getting your balance down just before that date, you will enjoy a higher score all month for free.

It doesn’t hurt to ask. In this video we talk about the good will removal of a 30 or 60 day late.  Be sure to download the worksheet for a script on how to ask.  This works best if you only had one late payment and a year has past since the “late” with no other payment problems. This can really help your credit and it will not cost you any more than some time. Remember, it doesn’t hurt to ask…

Credit Scoring leader FICO(r) has over fifty different versions of scores with many different ranges. On top of that, the repositories created their own credit score called Vantage(r). Vantage Scores have a different range for each version of their score. This is part of my continuing education class I did for MSHDA at their annualBuilding Michigan Communities Conference. We pick up the presentation when I am explaining why the repositories decided to team up and create a competitor to FICO.

Time to bring down you balances.  Paying down your balances is the safest way to improve your credit report.  Your goal should be paying down your balances to 5-9% to get the most points available.  Your goal should be five good credit cards that have never been late.  Look for an older account that has gone dormant. If you reactivate it, you will benefit from all this history and safely increase your credit score.  Just make sure that reactivating the card will not trigger a new credit inquiry.

Proceed with Caution!   This is the most important and dangerous of the six steps.  Please proceed with care, do not consider contacting any collection company that has adate reported more than six months ago, download the worksheet on the right. The pay for delete strategy is your goal and above all, get every negotiation in writing, so you can correct the reporting on your own.   Also, check out this video for 5 things a debt collector doesn't want you to know.

Take action now! Credit is all based on history and the moves we make today, this week, or this month will pay off later. The important actions you take now will be aged a few months when you start the mortgage process.  Step one get your free credit report, Step two look for actual errors and contact the collection companies.  Check out the worksheet download for more instructions. You can fix your own credit report if you know what to do. Follow these steps and you will be headed in the right direction.

The 4506-t form is normally pulled to verify your tax return used during the mortgage process. The term “4506-t” refers to the actual form that is filled our when making the request for IRS transcripts. This process will normally take 1-2 days except in the month of April and the first half of May. During that time the delay can be as much as two weeks. We have never gone through a government shutdown this long, since the verification of tax transcripts as been standard practice in the mortgage industry. I would expect that every day they are shut down will add a day to the turn times of the 4606-t forms. What should you do if you are a mortgage lender? watch this video to find out.

Thank you Lydia Vanderveen Sr. Account Manager at United Guaranty for explaining the benefit of Private Mortgage Insurance and why it is vitally important for first time home buyers. There are over 18 factors that go into determining your PMI rate. Although Credit score is one of the largest determining factors. Watch this video to find out what PMI is and how to get the most out of Private Mortgage Insurance.

How to Create an Identity Theft Report. It is the first thing you should do if you have become the latest victim of identity theft. Identity Theft is the fastest growing crime in America and it is big business. the total loss from ID theft costs us all billions a year and it can haunt you for life. If you feel that you have become a victim of ID theft then take action now!!! click on this link for the official identity theft form.