Repair Credit Fast Case Study: Julio’s Bad Credit Turns Into Keys To Dream Home!
Repair credit fast case study #10 proves that bad credit can result in the keys to your new dream home.
Recently I had the pleasure of meeting (& helping to “make”) a truly extraordinary bad credit success story ….
His name is Julio Muniz.
Julio recently “retired” from active military and desperately wanted his family to have a stable home…finally. Unfortunately, bad credit has kept him from breaking free from renting & paying his landlord’s mortgage payment.
His wife is tired of white walls and wants to decorate the kids’ rooms.
When Julio contacted me, he wanted to know more about renting to own in the Orlando (FL) area.
Naturally, I asked him about his credit. He told me it was bad. Okay, what are your scores, I asked him. He gave them (middle ~ 550ish). I asked him for the bad on his reports. He faxed them to me (something I do not recommend doing to a stranger but he did).
Click “Read More” below if you’re fighting bad credit and really want to grab the keys to your new home.
JULIO SEES DREAM COME TRUE
Immediately, I saw a judgment on his reports. Can’t miss one of those, especially when a person wants to buy a home. He told me he had paid off the judgment. I asked for proof.
Within minutes, he had faxed me the proof I needed to recommend a powerful strategy. For some reason, Julio’s mortgage professional didn’t know of this simple $35.00 strategy until I called her.
A couple days later, Julio was cleared for takeoff to pursue his dream. For so long, mortgage people kept telling him “NO.”
Apparently, they asked him the wrong questions, cuz this was way too easy. Julio called me about renting-to-own…he was convinced he couldn’t possibly take advantage of these L-O-W house prices in Florida.
He didn’t want to RENT…he didn’t want to rent-to-own…He wanted his OWN home now.
And then I surprised (pleasantly surprised) Julio and his wife with one secret from my book & videos.
- Secret #1 I shared from THE BUSY PERSON’S CREDIT MAKEOVER cleared Julio & his mortgage person how to increase Julio’s credit scores 95 points in 4 days, allowing Julio to get exactly what he always had wanted: to bank qualify by using his VA benefit, 100% financing & the keys to his new home.
Even better news is that Julio did not stop there. I shared secret #2 with him that would improve his credit scores even more…maybe an additional 75 points!
- With secret #2, I advised Julio to pay down his credit card debt, which accounts for 30% of his (& your) FICO.
Julio and every other person with whom I talk had no clue that carrying $3,200 on a $5,000 card KILLS his credit scores. Whoa, it most certainly does hurt.
Carrying $3,200 on a card with a $5,000 credit limit means Julio had charged 64% of his available balance!
So what’s the big deal, you ask?
Do NOT carry a balance over 25% when trying to apply for new credit! Don’t do it. Keep your balance as low as possible…ZERO if possible.
The more debt you carry, the lower your scores.
30% OF YOUR FICO COMES FROM DEBT-TO-CREDIT UTILIZATION.
I’ve seen a credit score jump 75 points simply by paying down the credit cards. Don’t you think you should consider paying down your credit card debt before you try to shop for a home?
In Julio’s case (and this is what I witness in every other person who contacts me), Julio did not care one bit about going after A+ credit.
Julio and his wife Marie wanted the keys to their new home. They didn’t set out to achieve some mystical 3-digit score…it wasn’t about a 700, 800 or even that “perfect” 850.
In fact, the interest rate Julio and Marie received was only 1/4 higher than the best rate offered to an A+ credit score. Big stinkin’ deal…right?
Without doubt, Julio’s mortgage person was so appreciative too as she (who thought she knew this stuff) now gets to help a family buy its home. )
This is how I strategically approach the ubiquitous “credit repair.” It’s laser-focused, not scorched earth.
I do NOT believe in randomly firing off dispute letters…only to see you get sued!
I believe in finding out exactly what credit score is needed to get what I want. Then I find the necessary points on a credit report. I also add good credit for a solid bump.
Get the necessary points (by adding GOOD credit and correcting BAD credit) to allow people to get whatever they want that “good” credit demands.
Email me now if you want a Sarasota Realtor and skilled mortgage professionals who know how to help you get the keys to your new home. You might be surprised by the possibilities!
Repair credit fast & get the keys to your new home just as Julio did by STRATEGICALLY improving your credit enough to get everything you want from good credit.
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