Hi guys,
Flicking through your posts, I can see that most of you are going through financial difficulties of some sort. Many people say that they need money but somehow they seem to expect a miracle – someone to give them what they need just because they are nice. It sounds wonderful but it doesn’t happen very often, as we all know. In most cases everyone must sort out the problems himself. I am sure you are doing your best trying to find a grant, if possible, or get social security benefits, which is not always easy, but there are other options too. I am a loan officer myself and I would be happy to help you with some free advice. It might help you out or at least I might be able to give you useful information.
As a general rule, if you are in too much debt, bankruptcy might be a good way out. (But don’t do it if you don’t HAVE to!) It doesn’t do as much harm as most people believe in a long term and it is a way of getting back on track faster. What would you say if I told you that a person who had bankruptcy discharged 3 months ago has a credit score of 566? Or that there are programs that would give you 100% mortgage loan one day out of bankruptcy. Please don’t get me wrong! I am not trying to convince you that bankruptcy is a good think. I would compare it to having a surgery – you don’t do it if you have another option.
Just a piece of advice: do your homework first. I have seen lawyers who would easily charge you a few thousand dollars and do just about nothing.
Another sensitive issue is credit history and credit scores. Many people believe that their scores are too low to get a loan. In reality, there are programs for almost every situation. Keep in mind that you CAN and HAVE TO: (1) make sure your credit report is correct at all times and (2) sometimes there are errors in the report and you need to take steps fix them. There are thinks you can do that will improve your credit scores and the good news is - you can do it yourself. You don’t have to pay someone $3,000 or more for a “magic” credit history repair.
Please let me know if you find my notes useful and feel free to ask questions.
I would be happy if I can help.
