Credit Repair Help

Welcome to Credit Repair Help!

The Credit Repair Help blog is the ultimate free resource website to help you learn how to repair credit. On this website you will learn how to repair even the worst credit and most of the bad credit repair techniques here you can do all by yourself, for free! We provide all the resources for you to successfully repair your credit, repair your credit report, and raise your credit score.

Why might you need credit repair help?

When your credit is not perfect, any loans you take out will have high interest rates. When you have bad credit, you may not even be able to borrow at all. In order to obtain a loan with bad credit, you should first learn how to repair credit. With the knowledge gained on this Credit Repair Help website, you should not need to go for a credit repair counseling or a credit repair service. You will learn all you need to know to successfully repair your credit. The aim of the Credit Repair Help website is to offer as much resources as possible for you to do credit report repair yourself.

Credit Repair Help is not a credit repair service

Since we are not a credit repair service and we do not offer credit repair services, we can fully give away our knowledge, resources and materials for free. Although, we are not a credit repair service company, we have extended knowledge of credit repair from many years of experience in dealing with credit bureaus and bad credit repair.

If you have questions, comments or suggestions, please use our contact form at the page above.

Question: I bought a home in NC to rent. I paid $50K the ARV is $90K. How hard will it be for me to refinance it?

at $80K which will include my closing cost. And walk away with a check for some of the equity.. .. say $20K for repairs, mortgage until rented, utilities, Insurance, etc.. Is that possible? I have excellant credit.

Answer: Disregard the other responses…

YOU DO NOT WANT A HOME EQUITY LINE OF CREDIT!!!

They are terrible for your cedit and they have ridiculously high interest rates!!!

The reason they are bad for credit is because they show on your report as a REVOLVING debt…In other words, it shows as a large credit card secured against your home… Not a good loan to carry.!!!

Now, as for getting cash with a refinance…YES IT IS POSSIBLE!! It is called a CASH OUT REFINANCE…

The response claiming she is a banker, and saying that you cant get cash on a refinance tells me she has no experience in the mortgage industry…

If you have great credit, you could get a loan up to the value of your property… Now, the lower the LTV ratio, the better your rate would be… So if you want an $80k loan, and your house is worth $90k, you would be at 88% LTV…

Thats just fine!!! With perfect credit, you would qualify for a good rate, adn a good mortgage program…

Now, if you plan on renting this house out to someone soon, you may want to look at some specialized mortgage options designed for investors like yourself..

One program that comes to mind is called a FlexPay… Flex pay is a new program, very popular on the west coast, and making its way throughout the east rapidly…

This program gives you alot of FLEXIBILITY on a monthly basis… THe reason is it gives you 3 payment options on a monthly basis…

Full payment (principal & interest)
Interest Only (paying only interest due)
MINIMUM PAYMENT (obligates you to less then the interest due each month)

The key with this program is that on months that there are no unexpected expenses that arise like repairs to the home, renters not paying rent, etc. you can pay the FULL PAYMENT OPTION!!

On months that there unexpected expenses coming up like home repairs, renters not paying on time, car breaks down, etc.. you are only obligated to pay the minimum payment..

For instance if you have a mortgage where the FULL PAYMENT would is $1,000… The INTEREST ONLY PAYMENT would only be $850… and the MINIMUM PAYMENT, would only be $500!!!

This obviously gives an investor that is never GUARANTEED a solid renter the flexibility when things come up unexpectedly…

Just a thought, but i think a program along those lines is best for any investor… I myself have 2 rental properties.. One a duplex, and the other a 4 unit apartment building… I have the FLEXPAY program on both of the houses…

If you would like to know more about this program option, feel free to call me at any time…

I work with Providential Bancorp, and we are a nationwide mortgage lender… I can give you an analisys, if you like it, we can move forward..If you dont, you wouldnt be obligated to a thing…

Look forward to speaking with you!!

Jason Fry
Licensed Mortgage Originator
Providential Bancorp
[email protected]
312-264-6448

Credit Pros Of The Carolinas NC

Question: Is the Credit Secrets Bible by CPG a good book to use in fixing your credit on your own?

I have bad credit and I am looking to repair it on my own without going through a credit repair company! I am not looking to get rid of debt that I am responsible for… I am simply looking for a way to dispute things that are in collections as far as Pay for Deletions, and dispute multiple collections for the same item on my credit. Has any one ever used the book, or can you recommend a good book that will guide me along the way and show me how to rebuild my credit as well?

Answer: Well, the best way to answer this question is: Most of the information to repair your credit is free. Now if you plan on disputing collection items, then you plan on deleting information that is possibly accurate. You must first understand what credit repair is: You are not saying that the debt is not yours, you are saying prove it! You are asking for proof of a contractual obligation between yourself and that particular collection agency. You never pay or talk by telephone to any collection agency until they have validated the debt. You only correspond in writing. (Paper trail.)

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