In 1990 your credit score had little bearing on buying a home. There was a point system in which scoring was calculated by items such as length of job, how long at a residence address, education, etc. Shortly thereafter, credit scoring became a big issue, as discrimination of credit had no rule and was based on a “feeling” by the loan officer. Soon laws were passed to stop discrimination. Thereafter, bankruptcies became common and were out of control, so guidelines were established to uniform the issuing of credit and laws were passed in order to control the methods of collection action and how credit is reported.

The credit score for anyone became based on calculations determined by FICO Scoring (Fair Isaac Company). It is not known exactly how credit scores are calculated, but the credit industry is now controlled by this scoring method. So we are told the method of this scoring changes as the nation’s economy changes. We at Mortgage Makers Lending know many actions and procedures a consumer can take that will increase or lower these credit scores. You must know the proper steps to take when you decide to increase your credit score.

This is where Mortgage Makers bad credit mortgage brokers can help you. Since 1995 we have been helping home buyers raise their credit scores and become owners of their own homes. There is some debt that if paid will help increase your credit scores. There is some debt that if paid will lower your credit scores. Mortgage Makers has a special calculation program that is used in association with the credit bureaus to determine what you should pay on our bad credit home loan that will increase your score, or if a debt is paid, it will lower your credit score. The number and balances of open credit accounts and the types of credit also determine your score.

This is where Mortgage Makers’ loan officers assist you or direct you to a class through our credit score improvement (CSI) department. Our loan officers or our credit score improvement class can advise you of the correct steps and method of improving your credit score. Many people try to fix their credit by themselves and actually make it worse, thus lowering their scores, and then it takes a lot more effort and sometimes over two years to correct the damage they have done – all credit is time sensitive and needs proper direction to solve the credit score problem.

Creditors and collection companies often report your credit wrong and these reportings need to be properly corrected in order to increase your credit scores. Let Mortgage Makers help you do this the right way and avoid further damage to your credit scores!

The main questions and decisions to correct low credit scores are directed to the borrower.

1. How determined are you? It will take your – time – money – responsibility.

2. Do you want a better credit score with your after bankruptcy mortgage? It will not get better all by itself.

3. Are you willing to stay in touch with us and do what is required to get your credit increased for now - and for your future?

4. Are you ready to buy your own home? If you are - then Mortgage Makers will be your very best ally and your very best source of financing and we will help you find a house while we are all working on your credit scores.

Some people can get their credit scores increased in 30 days and with others it takes over a year. Really! It all depends on how determined and focused you are. You will need to follow our instructions and if you do, then we will work with you to get your credit scores increased and - at the same time - your loan officer will work with our lenders to get your loan approved. Sometimes Mortgage Makers can still get our borrowers approved with very low credit scores and do not have to go through the process of increasing the credit scores. If you do not keep in touch with us we will have no choice but to close your loan application, as we cannot act for you or on your behalf. The credit bureaus will only communicate with you and will only discuss your credit with you. Some method of correcting improper credit can be done online and some must be done by mail. You will need to invest some money ($25) so Mortgage Makers can pull and review your credit a time or two and usually you may need to open certain types of credit accounts.

NOW - you need to contact one of our loan officers and order your credit report - at that point we can analyze all your credit and advise you if we can do your loan now or if you need to go to work to improve your credit scores. It’s up to you, but understand that you need to have some credit in order to have a credit score and to purchase your home. Your credit will not get better by doing nothing or by just wanting it to get better – you will have to do something to get to the point of being approved for financing for home ownership. Again, Mortgage Makers will instruct you or if we feel it will take a great amount of work we may refer you to our CSI instructional class to follow and periodically reorder your credit report. But you must apply now to get started on your rural mortgage.