Four Easy Steps to Raise your Credit Score
Having spent 10 years working with a Trans Union Credit Bureau eons ago, any time I see “quick fix” or “instant repair” schemes to improve credit scores, it just makes me fume! There are NO quick fixes and there is no such thing as instant repair! Beware of companies that promise a silver bullet for raising your score. No one can legally remove accurate information from a credit report. Only time can erase those notes of your file.
The following Four Easy Steps will help you raise your credit scores ……. THE Right WAY.
1. Do your homework. Obtain a copy of your current credit report and know what it states. Knowing your score is the first step in creating an action plan.
2. Do an accuracy check: Make sure the information on that report is correct and take steps to correct them it they are not.
3. Plan to improve: Here’s where your action plan really starts. Take control of your financial situation which means knowing how much money is coming in and how much is going out. Budget anyone?
4. Consolidate and save: If it makes sense, with your present situation and interest rates are good, consolidate your credit card debt into a second mortgage or equity line of trade. And then, don’t do the same thing over again. Highly recommended: get some face to face advice before you proceed.
Did I mention to beware of companies that promise that silver bullet? Remember, anything they will do for a fee, YOU can do for free. We have helped numerous people raise their credit scores (which take at least 6 months of dedication) and be able to purchase a home of their dreams when they thought it would not be possible.
If you or someone you know has any questions regarding their FICO scores, please send them our way. We counsel people all the time and NEVER charge them a cent …. just part of the service we provide.
Monthly Archives: February 2010
Four Easy Steps to Raise your Credit Score
Oh my, January was an awesome month for our company. In fact, we had more transactions close escrow (which included several homes in Fresno) than any previous January in memory. With that being said, the number of SOLD properties in Kingsburg was down from 6 in December to 5 in January. The ACTIVE listings went up by 11 and the price per square foot on SOLD listings went down from $130 PSF to $113 PSF. The majority of the SOLD listings were either short sales or foreclosures, which again, pulls property values down. So the real estate market is still in somewhat of a roller coaster ride, however we are anticipating a bountiful spring!
In our endeavor to provide you with information relevant to our community, as well as the state of the real estate market here in Kingsburg, periodically we will be providing insight from local experts on different topics and issues. This month Kingsburg City Manager, Don Pauly, was gracious enough to provide an outlook on 2010.
“VIEW FROM KINGSBURG by Don Pauley, City Manager
The last 2 years have been a challenge for the City of Kingsburg, but the staff and City Council have been up to the challenge. In January of 2009 the City Council anticipated the need to reduce expenses and implemented budget cuts in mid-year. The Fiscal Year 2009/2010 budget also anticipates a lean year with the City Council adopting a budget that continued to reduce operating costs without reducing essential services. The mid-year budget report confirms the foresight of the City Council and staff by projecting a year end General Fund deficit of less than one-half of one percent. We are just now beginning to work on the Fiscal Year 2010/2011 budget and we continue to anticipate a less than robust economy.
Like the rest of the country Kingsburg has experienced a significant downturn in the construction industry particularly single family housing. For the first time in over a year we are seeing new homes being built albeit less than a dozen. Commercial construction has also slowed dramatically. After the projected opening of the Fairfield Inn in March no new construction is expected to get underway although the City continues to work with the developers of La Quinta and Microtel hotels to secure their starts yet this fiscal year. City staff has focused its efforts on recruiting businesses to fill vacancies and will continue to do so until the economy picks up and all of our store fronts are occupied.”