CLICK  HERE SO  WE  CAN  HELP  YOU  FIND OUT  WHAT  YOU  CAN  GET  APPROVED  FOR

Little  Known  Credit  Secrets

The paying off of an old debt actually harms credit.  The seven-year clock begins ticking on "the date of last activity".  When an outstanding delinquency account is paid off the status changes to "Paid Charge Off" or "Paid Collection" and the seven-year period begins again.  Doing the right thing buys additional years of negative credit.

Declaring bankruptcy does not erase bad credit.  For their own interest, some bankruptcy attorneys may not adequately explain the effects of bankruptcy to their clients, leading to misconceptions.

Those "FREE Credit Report Score" offers on the internet are a scam.  You can request your credit reports from each of the 3 credit report agencies.  You may be able to buy one credit score...BUT...all 3 credit scores are needed because they can differ from each other by over 100 points!!!   IF you have good to great credit then one of my loan officers will be glad to work with you ... check our recommended business section.... OR.... if you have no or poor credit then purchase your 3 credit scores & reports and call lenny for direction on raising the scores: Purchase Here

It's no coincidence that the Federal Trade Commission receives more complaints against credit bureaus than any other type of business. Disputing the credit report is easy, but getting results from the credit bureau is difficult, complex, and infuriating.  My mama used to say "Don't be your own Dentist" ........ Let Earl be your "Credit Doctor".  You just can't lose!

Consumer Credit Counseling Services is a non-profit debt counseling service that assists those who are in debt.  CCCS companies are controlled by the creditors and the credit bureaus.  The fact is, if you are in a CCCS program, and it is reported to the credit bureau, creditors will treat you as if you had declared a Chapter 13 bankruptcy.  Besides....CCCS programs are notorious for causing many more "late" payments.

All mortgage companies use your MIDDLE credit score of the 3 credit Bureau Scores.....EXCEPT FHA loans!  They use ONLY the past 12-24 months of your credit history...it needs to be near perfect!

Credit scores go up the longer you have GOOD credit and the older the credit card!

Lenny's 6 Steps to a Low Interest 0-Down
Home Loan For Folks With Poor Credit:

1) Make absolutely certain to pay ALL monthly bills on time....Utilities....etc.....Call each of your utility companies....and ask them to email or fax your past 12 months payment history.  That way you can monitor WHEN you have ALL at least 12 months perfect!!!  We use these 12 month reports as ALTERNATIVE Lines of Credit!

2) Make certain to pay your rent with a PERSONAL CHECK!
IT'S  BEST  TO  BE  A  PERSONAL  CHECK!.......ON TIME!!!!!!!!
A Money Order is OK IF you keep the receipts! (personal check is ALWAYS best!)

3) You will need to get 2-3 credit cards in your name (not debit cards)....preferably with one being a department store card. You may have to BUY the first one....and work that ones credit limit higher and higher as you go. NEVER run up a balance over 1/3rd of the cards credit limit!  We can help get you set up with 2-3 credit cards.. (they MUST report to the 3 Credit Bureaus) No matter how bad your credit: OrchardBank.com will get you a card.

4)  You MUST have 6-12 months of VERIFIABLE income:
If you get taxes taken out:  1-2 years W2's & current paycheck stubs.
If you are "self-employed" (1099'ed):  You MUST have 12 months of bank statements showing EVERY dollar earned as a separate deposit that matches up with your 1099's and employer earnings statements.

5) You MUST save up about $2,500.  You may not need to use this to buy the home, BUT most mortgage companies want to see at least 2-3 months mortgage payments in your bank account.

6) STAY IN TOUCH WITH LENNY!