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Stockton CA – One of the common reasons that people are concerned about a foreclosure or short sale in their history is because they are concerned about their credit score.
Get my Free, Step By Step Loan Modification Guide by clicking here.
While it’s true that your credit score will be adversely affected by these items, it is also true that you can move past blemishes on a credit report.
You may want to consider doing some credit repair or credit restoration. It isn’t hard to do, and when taken step by step, it can be handled in an organized, manageable way.
The first step that you need to do is to get and review your credit report. I’m always amazed by the psychology of just this step.
Most people don’t want to pull their credit report because they “just feel” like it will be bad, and they don’t want to see it.
However, you won’t know where you are at or how to get onto the next phase of recovery until you figure out where you are at.
You have seen all the commercials, and can sing the jingles, for some of the places to get your credit report. There are pros and cons for any of the places you can get your credit report.
The two words of caution I offer here are:
1. You can get an annual free credit report (the one that the government requires the 3 credit reporting bureaus to provide) from annualcreditreport dot com.
However – if you choose this route – it is free, but it then bumps up the time that a creditor has to investigate any of your disputes from 30 to 45 days.
This isn’t a great option, in my opinion. You’ll understand why after you learn about the dispute process.
Also, be aware that this service doesn’t have to give you your 3 digit credit score – which you might want to know.
2. Most of the other services offer you a free 30 day trial period, and then you get “enrolled” in their credit monitoring program. If you aren’t one to keep track of the 30 day trial timeframe, you could end up sucked into paying for something that you wouldn’t normally want to spend monthly money on.
In the next article about your credit report restoration, I’ll talk about how to review your report, what to look for, and how to analyze it.
Thinking about a loan modification?Our Stockton loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail atron@homebuyersrealty.com to request a Free Copy.
Or, click here to request a copy.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at ron@homebuyersrealty.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 (209) 321-0445
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thanks for reading this, Ron Cedillo.
Ron is a Real Estate Broker at Home Buyers Realty. Stockton Short Sales Realtor:
Phone: (209) 321-0445. ron@homebuyersrealty.com.
Providing Options for Homeowners in Foreclosure
View My homes for sale at www.HomeBuyersRealty.com.
Ron Cedillo specializes in loan modification assistance and short sales in Stockton California. Stockton Loan Modification Help, Stockton Short Sales. Stockton Short Sale Realtor Stockton CA Short Sales. Stockton Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice
Ron Cedillo, Home Buyers Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
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.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Cedillo's personal views and do not reflect the views of Home Buyers Realty.
This information on The First Step To Fixing Your Credit After A Stockton Short Sale is provided as a courtesy to our viewers to help them make informed decisions.
Stockton CA – The biggest advantage a short sale has over a foreclosure is that you can buy your next home much sooner.
Get my Free, Step By Step Loan Modification Guide by clicking here.
Here was our answer to Dan’s Question.
Under current lending guidelines, you can buy another home in 3 years after a short sale. After a foreclosure you have to wait 5-7 years in most cases.
(FHA’s current guidelines state that you can get an FHA loan immediately after a short sale, provided that you never missed a payment. If you were in default at the time of the short sale, then you have to wait 3 years before they will approve your loan.)
But, what if did miss a payment and you want to buy another home sooner than that?
There are loopholes in the Fair Credit Reporting Act. Remember, the law was written to protect consumers. It wasn’t written to protect the lenders!
You can use the law to your advantage to get a short sale removed from your credit history. Then, you can fix any other negatives on your credit report.
After that, your credit should be good enough to qualify to buy another home.
Here is why you can have the short sale removed from your credit report. The Fair Credit Report Act requires lenders do certain things before reporting negative credit.
If you lender misses any of these steps, then they are not allowed to post that item to your credit report. Don’t kid yourself; the lenders make mistakes like this all the time.
They are more concerned with getting paid than making sure every credit report is done perfectly. A good lawyer that specializes in this can help you.
They will know the intricacies of the law and help you get the short sale removed from your credit so you can buy another home.
Thinking about a loan modification?Our Stockton loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail atron@homebuyersrealty.com to request a Free Copy.
Or, click here to request a copy.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at ron@homebuyersrealty.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 (209) 321-0445
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thanks for reading this, Ron Cedillo.
Ron is a Real Estate Broker at Home Buyers Realty. Stockton Short Sales Realtor:
Phone: (209) 321-0445. ron@homebuyersrealty.com.
Providing Options for Homeowners in Foreclosure
View My homes for sale at www.HomeBuyersRealty.com.
Ron Cedillo specializes in loan modification assistance and short sales in Stockton California. Stockton Loan Modification Help, Stockton Short Sales. Stockton Short Sale Realtor Stockton CA Short Sales. Stockton Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice
Ron Cedillo, Home Buyers Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
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.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Cedillo's personal views and do not reflect the views of Home Buyers Realty.
This information on I Want To Buy Another Home Right After A Stockton Short Sale is provided as a courtesy to our viewers to help them make informed decisions.
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422 Lancaster |
| MANTECA, CA |
| Great Priced Manteca Family Hom |
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Spacious Single story home, over 1800square feet, 3 bedroom, 2 bathrooms. Located in established neighborhood. Shady tree in front yard to enjoy summer evenings outdoors! Spacious family room with brick fireplace! http://www.postlets.com/repb/5965499 |
Owner/Broker of Home Buyer's Realty with my wife Eva Cedillo. We have helped homeowners buy and sell homes for thirteen years.
CLIENT TESTIMONIALS:
Ron and Eva, thank you for taking good care of Stacy, Doug, and of course my favorite of the three, Bailey. I called them tonight and they told me the great news. I'm so exited for them. In our conversation tonight, Stacy said to me "I have to tell you Eva and Ron are the best. Thanks for referring them to us." I grinned to myself thinking, yes, they are the best of the best. Thanks again for being Awesome Realtors and Good Friends.
~Donna and Tamara
I would like to express my gratitude to the staff of Team Cedillo for the outstanding effort and professionalism during the purchase of my home. Although I am a first time home buyer, I had heard horror stories of the whole procedure which had deterred me in making a purchase. I would like to say that working with your staff made all of those stories seem like "old wives' tales." Their constant communication and commitment to helping me make my purchase made the process effortless on my behalf. I would especially like to commend Eva Cedillo, whose honesty and familiarity with the Tracy community made my home purchasing decision easier. Her knowledge of the community and surroundings of each neighborhood assisted me in finding the perfect neighborhood and home to live in. I would highly recommend her to other family members and friends. Thank you for helping me find a home.
~Mercedes Trujillo
Team Cedillo, I'm writing this letter to express my gratitude and appreciation for your hard work, patience, honesty, and integrity in guiding me toward finding a home that fits my needs at a good value. Eva, you clearly stated that your goal was to serve me in finding a home, and your actions always mirrored your words. Your team members worked together seamlessly toward this purpose, form Eva's leadership to Ron's deft and concise explanation of financing. It made for a pleasant, productive experience in what can be a very anxiety-producing process. Your team exemplifies the values of hard work, honesty, integrity, and treating others as they wish to be treated. Thank you for showing me that there are "good guys" in real estate.
~Jack McCready
Ron and Eva helped the purchase of our home become smooth and worry free. As first time buyers, we were nervous to make such a large investment. Ron and Eva's team was so effective at keeping us informed and guiding us through our purchase that we were moving into our new home within just three months of our first meeting. We recommended them to several of our good friends and family, and Ron and Eva were able to help them buy homes as well!
~Hilary and Josh Ward
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