If you are like so many people today, the down trending economy has left you under employed or unemployed. You may have struggled for many months attempting to save your home from foreclosure, and hopefully you did not lose it like so many have. But probably in your attempts to save your home, your credit scores have dramatically declined.
As a result, you could be trying to figure out how to put all the shattered pieces back together. If you are losing your home, or have already lost it, your credit scores have taken a deep dive. An active or completed foreclosure and possibly even a bankruptcy may now all be present on your credit report.
Recovering from all this damage is probably foremost in your mind. You may have tried to save your home by using your credit cards or other unsecured lines of debt. You may have tried to save your home by stopping payments to the lender when the lender told you that was the only way you would qualify for a loan mod.
Perhaps you have been left in limbo for many months, just waiting for an answer while you sent in more paperwork, and still you do not know if the bank will just keep running up the amount you owe with late fees, penalties, and foreclosure fees, or if you are going to get a loan mod.
However the plunge in your credit scores happened or is happening and wherever you are headed now, to successfully manage your future, your credit scores are going to need to be cleaned up. Getting things moving in the right direction as quickly as you can is essential to your future plans and goals. Without good credit scores, getting a new home – even if only a rental can become a nightmare.
Many people who have been living through the past three or four years experience embarrassment, shame and hopelessness when asked to provide their current credit report.
One of the key essential first steps to beginning to restore your credit is to get your requests for loan modification completed, if you have not already lost your home. A successfully completed loan modification automatically brings your loan current and your modified monthly payments begin reporting as current again to all three credit bureaus.
If you have already lost your home, then you may need to research and find out if your foreclosure was legal, and/or if you were the victim of a predatory loan, or predatory foreclosure. If you were, chances of getting your house back now are still possible, providing you have a good attorney who can prove your case in court.
More realistically, you can use that information as the first critical step to helping you get negative information removed from your credit score.
There is much that you can do to start restoring your credit, but chances are that you are not sure where to begin or what actions to take to get things moving in the right direction. If you don’t know where to begin, there is an excellent company that can help you understand what to do and how to go about it.
The company is called Rockingham Associates. They provide a number of essential services to homeowners and borrowers across the nation. They can help you save your home from foreclosure, and they can help you clean up your credit scores, even if you have already lost your home. Their program is designed to help borrowers who are trying to restore their credit, save their homes, or recover from the loss of their home. They utilize the federal laws that guide lenders and protect borrowers from unfair or predatory lending practices.
Tags : Credit Repair, Foreclosure, Loan Mod, Loan Modification, Predatory Loans, Predatory Lenders, Credit Scores, Foreclosure, predatory foreclosure, bankruptcy, Rockingham Associates, credit cards, credit bureaus, borrowers