Rapid Re-Score Your Credit Files:
A way to increase your credit scores
when you are seeking a mortgage
by Lisa Phillips
A way to increase your credit scores
when you are seeking a mortgage
by Lisa Phillips
You may be in the market to purchase or refinance residential or
commercial property and time is of the essence. You discover your credit
report contains negative information that is affecting your chances of
qualifying for the best loan.
There is hope. Rapid Re-Scoring can correct negative, outdated and
inaccurate information in your credit report in as little as 72 hours!
commercial property and time is of the essence. You discover your credit
report contains negative information that is affecting your chances of
qualifying for the best loan.
There is hope. Rapid Re-Scoring can correct negative, outdated and
inaccurate information in your credit report in as little as 72 hours!
What Does Rapid Rescore Accomplish
Negative, inaccurate and outdated information appearing on your credit
report and lowering your credit score can be corrected and removed.
Accounts can be deleted from your credit file. Status of an account can be
changed from "30 days late" to "paid as agreed."
Collection accounts can be quickly paid off and deleted from your credit
report. You can even pay down on a balance of a debt and that information
is immediately reflected. It is an invaluable tool that lenders and mortgage
brokers have access to and can make a significant difference when you are
in the process of loan approval.
Who Can Do Rapid Re-Score
Rapid Re-scoring is a fee-based service. It can only be done through a
lender or mortgage broker who is a customer of a Rapid Re-scoring
Service. Generally, you must have proof that a payment was made on time
or proof that the errors in your report are truly errors. It depends on the
rescoring service what types of information they require. The lender will
usually charge a fee for every account that is corrected.
Rapid Re-score is well worth the money in order to avoid bad credit loans
with high interest rates. New information can be posted in as little as 72
hours and your credit scores will improve immediately.
Credit Scores for Mortgage Loans and Avoiding Multiple
Credit Inquiries
There are many different types of mortgage loans. Having less than
perfect credit will not prevent you from qualifying for a mortgage loan
although you will not get the best mortgage rates. You may qualify for a
mortgage, refinance or home equity line of credit, even if you have credit
scores lower than 600.
However, low credit scores put you into what is known as "subprime"
lending. The terms are not as favorable as "prime" lending and your
interest rates will definitely be higher. The ideal scenario is having a middle
score of at least 640. The best mortgage loan rates are afforded to those
with credit scores of 700 and above.
When applying for mortgage loans lenders pull your credit scores from the
three major credit bureaus and usually take into consideration your middle
score. You must know your middle score before you apply for a mortgage
loan. This will help in your research while deciding upon a lending institution.
Just remember when you are shopping around for a mortgage loan, try to
keep your credit inquiries within a two week range. The credit bureaus will
view multiple inquiries as a single inquiry if done within a 14-day range.
Negative, inaccurate and outdated information appearing on your credit
report and lowering your credit score can be corrected and removed.
Accounts can be deleted from your credit file. Status of an account can be
changed from "30 days late" to "paid as agreed."
Collection accounts can be quickly paid off and deleted from your credit
report. You can even pay down on a balance of a debt and that information
is immediately reflected. It is an invaluable tool that lenders and mortgage
brokers have access to and can make a significant difference when you are
in the process of loan approval.
Who Can Do Rapid Re-Score
Rapid Re-scoring is a fee-based service. It can only be done through a
lender or mortgage broker who is a customer of a Rapid Re-scoring
Service. Generally, you must have proof that a payment was made on time
or proof that the errors in your report are truly errors. It depends on the
rescoring service what types of information they require. The lender will
usually charge a fee for every account that is corrected.
Rapid Re-score is well worth the money in order to avoid bad credit loans
with high interest rates. New information can be posted in as little as 72
hours and your credit scores will improve immediately.
Credit Scores for Mortgage Loans and Avoiding Multiple
Credit Inquiries
There are many different types of mortgage loans. Having less than
perfect credit will not prevent you from qualifying for a mortgage loan
although you will not get the best mortgage rates. You may qualify for a
mortgage, refinance or home equity line of credit, even if you have credit
scores lower than 600.
However, low credit scores put you into what is known as "subprime"
lending. The terms are not as favorable as "prime" lending and your
interest rates will definitely be higher. The ideal scenario is having a middle
score of at least 640. The best mortgage loan rates are afforded to those
with credit scores of 700 and above.
When applying for mortgage loans lenders pull your credit scores from the
three major credit bureaus and usually take into consideration your middle
score. You must know your middle score before you apply for a mortgage
loan. This will help in your research while deciding upon a lending institution.
Just remember when you are shopping around for a mortgage loan, try to
keep your credit inquiries within a two week range. The credit bureaus will
view multiple inquiries as a single inquiry if done within a 14-day range.
What is Rapid Re-score
Rapid Re-score is a service
offered by a lender or
mortgage broker in which
your credit scores can be
re-analyzed and quickly
corrected for the purposes
of a residential or
commercial real estate
loan.
Rapid Re-score will
accelerate the credit
dispute process and rapidly
correct negative information
and increase your credit
score immediately.
Rapid Re-score is a service
offered by a lender or
mortgage broker in which
your credit scores can be
re-analyzed and quickly
corrected for the purposes
of a residential or
commercial real estate
loan.
Rapid Re-score will
accelerate the credit
dispute process and rapidly
correct negative information
and increase your credit
score immediately.
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