Looking for a mortgage, but having trouble due to your credit score?


Here are some things you can do to get your credit score headed in the upward direction so you can secure the loan you need to live in a home that is desirable for you and your family. Your credit score is viewed by lenders as a direct indication of your willingness and ability to pay back off loans and debt. Another way to look at it is the level of probability that you end up defaulting on the in the first 90 days. It may help you to view your credit score like more of a grade you would receive in school instead of an arbitrary number associated with you. If you have high grades you advance to better classes and receive preferred placement in the academic world and it’s no different in the financial realm. If you grade out high you will advance to better neighborhoods and receive preferred consideration when you make offers on properties or vie for loans, etc.  Keeping tabs on your score as you would you GPA will majorly increase the amount of attention and effort you give to improving your score (grade) and your overall life situation. If you are constantly aware of you credit standing, you will be less likely to make moves that could be potentially harmful to your credit because you eliminate the ‘out of site, out of mind’ factor that has been the downfall of many. The difference between your GPA (grade point average) and your credit score is the fact that you never graduate with credit and you always need to keep your score as high as possible. It’s a lifetime of performing your due diligence to get ahead.

If you fail in school you are given a chance to redeem yourself, whether you are re-taking a test or doing an entire grade over. Credit is the same way. You can always take action to raise your credit score, the amount of work and time it will take to reach redemption depends on how deep of a hole you have dug yourself into. The best place to start rebuilding your score is to look at any outstanding debts and start the process of getting them taken care of as soon as possible. You will see a significant boost to your score after amending any outstanding debts.

After attending to your outstanding debts you need to make sure that you NEVER fall back into the old habits, practices and mind sets that got you into the debt you just eliminated. That cannot be stressed enough; fixing your credit score is more than just a specified mission to improve one area of your life. In effect, improving your credit score comes along with making changes to your overall lifestyle. Approaching this as a wholesome change that will be permanent will put you on the path to reaching the state of mind where the changes you are making become second nature instead of necessitating conscious attention like they will initially.  Make your payments on time, or better yet, early WITHOUT EXCEPTION. This will assure your consistency will always be reflected on your credit report and your score will continually increase. This goes for any payment, small or large, and should become your new status quo for the long haul.

Be sure to not try to do too much at one time in order to remedy your credit score. Just like in school, it will be much easier to attain high scores and be efficient in your studies if you take on a course load that agrees with your lifestyle and schedule. If you take on too many classes during one term, your scores are going to suffer across the board because your attention is being exponentially divided and partitioned. The same thing goes for your credit score. If you try to take on too many remediation steps at once, you will ultimately fall short of your goals or significantly delay yourself from arriving at your desired destination.  Focusing on a few areas at a time until they suit the credit situation you are trying to create for yourself. Doing this ensures you will give full focus to the areas you have chosen to for your current efforts in raising your credit score. Seeing each area through to a satisfactory level will leave you looking at a very complete picture once you have concluded your efforts to rebuild your credit. Think of it like building a structure… can’t focus on the roof until the foundation and walls are planned for and built. It would make no sense to build your roof before the rest of the house is done. Start your work at the foundation of your credit score. You will build a sturdy, beautiful and practical structure in the end.

Another tactic that could be effective is disputing your credit score as you would a grade that you disagree with or feel you do not deserve. Just like when you used to complain to your teacher about your grade, you can also take up direct dispute with your credit score. The difference is that with your credit score it will take about 3-5 years for a negative mark to fall off your credit report. If you keep up positive credit practices your entire report should be clear within five years and you should be living with a shiny inflated credit score that will open up brand new possibilities for you and your family!

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