 A Loan for Every Home and a Home for Every Loan |
Home | Apply Now | Contact Us | About Us | Calculator |
 |
||
|
CALL US NOW!
973-978-1486 |
||
|
CURRENT MORTGAGE CRISIS MAY REQUIRE CREDIT RESTORATION
The current mortgage crisis is leaving many prospective borrowers in a bad situation due to an unfair system of credit scoring. Many borrowers need to improve credit scores to qualify for today’s programs and rates. Credit repair is costly and often unreliable. Credit restoration is the way to improve your scores and qualify for the low interest rate programs available.
A good credit rating is the most valuable thing we have when it comes to financial independence. Sadly, the information in our credit reports is often inaccurate. Surveys have revealed that nearly 80% of all consumer credit reports contain serious errors or mistakes of some kind. This prevents millions of Americans from being able to purchase homes, automobiles, and other consumer goods and services. Additionally, many people are paying high interest rates unnecessarily. This results in an endless cycle of high monthly payments, which many consumers cannot afford. Unable to pay their bills on time, they continue adding negative information to their credit report, causing their finances to go in a downward spiral, which can have a devastating effect on their lives.Because credit reports are widely accessed by lenders, it is important that the information is as accurate and up-to-date as possible. Credit Restoration services help consumers restore their good credit rating and achieve their financial goals. Proven processes are highly effective in producing results that enable consumers to purchase or re-finance a home, buy an automobile or start a business. How Credit Scores are UsedIn addition to evaluating your risk level for borrowing money, credit scores are increasingly being used to determine employment eligibility, insurance rates, and in some cases, the rates charged for utilities. Your credit score is one of the most important numbers in your life. Most scores will range from 300 to 900, with the average American credit score being 677. Keep in mind, the higher your score, the better the terms of the credit you will qualify for.Below is a breakdown of score ranges and what kind of terms borrowers can expect at various levels:650 or higher - A score of 650 or above indicates a very good credit profile. People falling into this range will usually be able to obtain credit quickly and at a good interest rate.620 to 650 - Scores between 620 and 650 are also very good and typically where most credit scores fall. These consumers may find that potential creditors could require additional documentation for larger loans and the loan process may take longer as a result. 620 or less - This score brings higher interest rates for borrowers. If credit is granted, the process will take longer and will be on less than ideal terms. Borrowers will pay significantly higher interest rates than those in the 700 or higher credit score range, and in some cases, credit may be denied. For details about how our process works, please contact your Mortgage Professional to refer you to a reputable service.Robert J. Saypol is a Mortgage Professional with SunQest Funding, LLC. 130 Commerce Dr,Ste 120, Cranford, NJ 07016. (973) 978-1486. He has been involved in the mortgage industry for over 20 years and has been featured on Channel 12 New Jersey Business and WMTR radio’s “Ask The Experts”. He writes a regular mortgage column for Life and Leisure and been featured in Broker magazine as one of the top 34 loan officers in the United States. |
Robert Saypol Skyline Mortgage, LLC 973-978-1486 65 Madison Av, Ste 310 Morristown, NJ 07960 |
|
||
|
Robert Saypol
 |
||
|
