Credit Restoration Advice

Life events can effect our credit drastically. We run into people everyday who had great credit at one time but now they find themselves in a situation where they cannot qualify for a home loan.
It does not take very long and a great credit score can go down quite quickly. Sometimes it is a job lay off (there are almost 7 million Americans drawing unemployment checks right now), an accident or an illness. These things many times come upon us without warning.
Many times people find themselves unprepared for these emegencies. The bills keep coming due every month and the income has been drastically reduced. Before long they start to fall behind and new lates begin to show up on their credit reports. We have seen one new late drop a credit score 100 ponts while the average is probably more like 30 to 40 points. The rest of the bad news is that it will effect their credit scores for at least two years.
Whether unexpected life events have lowered your scores or just bad past credit decisions there is a way back to healthy scores again. There are certain prinicipals, if followed, that will cause your scores to climb fairly rapidly. You can rebuild your credit file so that it will be healthy, assuring you of a much better interest rate.
If you would like to know how you can improve your current credit situation contact us at The Guilliams Team or at Credit Restoration Advice.

Is refinacing an option for you?

With the interest rates of late being so low we had been discussing refinancing our home. After doing some checking and getting various quotes on interest rates we decided this was something we needed to explore. After finding one of the lowest rates around we worked with a lender to get a good faith estimate and much to our surprise we decided that refinancing would save us a tremendous amount of money each month and over the course of the loan. Refinancing may not be an option for everyone, but it certainly is something that everyone should consider. There are a lot of first time home buyers feverishly trying to take advantage of the $8000 tax credit that will soon end so we are seeing financial institutions offering some awesome rates to another group of folks who are looking to refinance. Even if you refinanced just 2 years ago a couple of phone calls may be worth several hundreds of dollars in savings per month. You have nothing to lose and so much to gain so check it out today and see if refinancing is right for you!