Maurice De Vidts

Originally posted on my website,

Trouble with you house payments?

The first thing you can do is check to see if you qualify for any type of loan modification or refinance under the new government making home affordable program. You can go directly to the government page, www.makinghomeaffordable.gov to see if you are eligible. Don't fall for scams from companies that claim to offer this help, it is offered for FREE from YOUR lender directly.

Lenders are starting to offer loan modifications which could bring your interest down to 2%! depending on how high your current payment is. If you don't qualify for the direct modification you might qualify for a refinance under the government program which allows you to refinance even if your first mortgage is up to 105% of your current home value! that is something conventional lenders won't do under a traditional refinance.

It is also important to know that you don't have to be late in your payments to qualify for some of these programs. In addition, the program is currently being modified to incorporate second mortgage assistance as well! (Second Mortgage press release!)

Here are some of the major banks that are offering this government program:

Countrywide

National City Bank

IndyMacBank (now OneWest Bank)

GMAC

Wells Fargo

Don't be discouraged if you don't see the making home affordable program on your lender's website, sometimes the information is burried and may not be visible from you bank's first page. If you can't see it in their website call them and ask!

If your lender does not participate in this program, you have exhausted loan options and you live in then Colorado Springs area, please check with me for other options before foreclosure.

If you have more links, please mail them to me and I will add them to my website, close-quick.com

Originally posted on my website,

Do you know what is in your 3 credit bureau files? Chances are, no.

The first step in credit repair is to obtain all three credit reports. It is best if you obtain them individually, rather than a so called 3-in-1 report.

This is because individually they have more detail such as dates which are important in the credit repair process. A 3-in-1 report is too abbreviated for the repair process.

The three credit bureaus are: Equifax, Experian, and Transunion.

Each of them offer by Colorado Law a free report per year, all you have to do is request this report. Read the fine print, as their sites trick you into a trial subscription instead of the free report you are entitled by law.

What's next?

The basics of credit repair are simple and is best divided into tasks:

• Get rid or minimize the score impact of negative entries
• Ensure all positive accounts are reporting accurately on all reports
• Improving your credit limit to credit balance ratio
• Establishing new credit (ONLY when needed)

-Get rid or minimize the score impact of negative entries:

This is mainly accomplished by means of accuracy disputes with the credit bureaus or credit reporting agencies (CRA) and also contacting original creditors (OC) and collection agencies (CA) as well. We introduce the acronymns here because there are used extensively on other sites as well.

With your three reports on hand, you want to identify all the negative (derrogatory) entries in each. Some times a trade line (T/L) will only be present in one report, two or if it was reported correctly, all three.

For each of these negative accounts, you need to ask yourself a couple of questions:

Is this really an account or collection that belongs to me?

Is the date listed accurate? (more on dates later..)

Is the status correct? (Paid, Unpaid)

Is the amount correct?

In other words, go over each item carefully and note any problems and any discrepancies between all 3 reporting agency reports. For example Experian might be reporting the account Unpaid, but Equifax reports it correctly as Paid. In that example you would only need to dispute that account with Experian.

Now what?

Comming soon...

I will soon be hosting a credit repair seminar in July, check my website, close-quick.com for dates!