Credit Repair

I recently received an application from a young lady who had some obvious issues with paying her bills. This is someone who has shown little ability to be responsible with her obligations and she was now attempting to purchase a home. The gentlemen who referred her to me wanted me to put her into credit repair.

I am a fan of a couple of reputable, attorney backed credit repair organizations and have no problem referring a client to them if they need some work done on their scores. I reserve this for someone who has shown the ability and willingness to pay on time but may have hit a speed bump (illness, temp. loss of work, etc.) In my opinion credit repair should not be used for someone who can't or won't pay their bills on time.

If we as an industry push people into credit repair just so they can buy a house or do a loan, what does that say about us? Credit repair is a tool to be used and can be a valuable one. But it must be used responsibly.

Tom Barker

Baltimore Mortgage Online

Metropolis Funding