Keep that Homebuyer
How We Can Help Mortgage & Real Estate Professionals
Once you have identified a potential home buyer that does not meet the credit requirements, WE CAN HELP YOU KEEP THAT HOME BUYER.
HERES HOW:
We perform a thorough evaluation of the potential home buyers credit report. We identify negative accounts that are affecting the scores. We challenge those accounts – DIRECTLY WITH THE BUREAUS – and attempt to have those accounts COMPLETELY DELETED from the credit report without the client paying or settling the debt.
3 Reasons Not to Pay Collections
Paying collections on re-ages the debt
It zeroes out the account (which helps the Debt-To-Income ratio), however, the account will appear as a brand-new collection, thus dropping the score.
It’s no longer your debt.
The person who owns the debt now doesn’t have a direct contract with the individual, yet when they report the debt to the bureaus, they are claiming that they do and can legally verify it. Since this is not accurate, they are breaking the law. The original company voided the contract when they sold it for an average 10-15 cents on the dollar. They reported it as a loss, and now can’t legally collect on the debt either. So really, you don’t owe anything to anyone anymore.
If a collection is paid, it doesn’t stop it from being sold again to another collection company.
Many times, we have seen duplicated debts on credit reports that the client already paid it off. Collection companies are notorious for settling with clients and quickly selling the debt off to another company to collect just a bit more!
We have negatives items just like this DELETED (completely removed from the report) WITHOUT the clients having to pay or settle.