Tip # 3 Fixing Credit After a
Short Sale: Order Of Importance
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.
Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
You want to rank the ones that will cause the most damage to your credit score.
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.
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.
Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
You want to rank the ones that will cause the most damage to your credit score.
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.
I can help you short sale your property and get back on your feet. Send me an e-mail at philli@txhomerealty.com. I will contact you for a free consultation.
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 (888) 287-8945.
Discover how other sellers successfully completed a short sale Cedar Hill, Grand Prairie, Duncanville, Arlington and request a free consultation by emailing phillis@txhomerealty.com.
Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email beth@txhomerealty.com to request a copy.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group.
Phone: (888) 287-8945.
A Realty company with Service as Big as Texas
View My homes for sale at http://www.southwestdallashomes.com
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Important Notice
Phillis Nealy, The Texas Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government.
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.
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