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Why You Need Good Credit to Move Forward- Email this article to a friend - No matter your current situation, whether you’re at the stage of looking towards buying a home soon or still a way off yet, your poor credit is going to affect your buying power. It’s a sad fact that almost 30% of potential homebuyers are turned down, due to their FICO score. If you’re unsure what FICO means, it’s simply the credit scoring method that lenders use to determine how credit-worthy you are. Created by the company Fair Isaac, the FICO score is used by the three credit bureaus – Equifax, Experian and TransUnion – that hold your personal finance records. Without a good FICO score, a mortgage will be very hard to come by. Not only will a mortgage be difficult, there are many other areas that will be severely affected by a poor FICO score. For example, even your ability to get a cell phone will be greatly reduced, as well as any other type of finance or lease agreement (including apartment rental) or the cost of your car or renters insurance can even be affected by your credit. Perhaps most damning of all is that employers are now looking increasingly towards a potential employee’s FICO rating, and withdrawing a job offer if it comes back negative. Once you get into this situation of poor credit, it can be difficult to get yourself out of. Yet unfortunately, it’s all too easy to let yourself get into this position. Not saving when you have the chance; spending more than you earn; putting everything on credit cards, etc. Today’s “buy now, pay later” motto has led to a nation of debtors, with seemingly no way out and the feeling of being tapped and alone with your problem. The good news is that you’re not alone – there are companies that are both able and willing to help. Swiftcurrent Investment Group can offer advice and workshops on how to stop your FICO score from continuing to deteriorate, through proven Debt Management programs and monthly classes for their tenant buyers. Specialists that have worked for people just like you to get you into a home and improve your credit so you can be financed for your home and get the best rates possible. With the knowledge that both our partners and we bring, you can soon begin to clear the debt that has been holding you back. From automatic payment accounts, monthly finance classes, to credit restoration services, we can help you restore your FICO score to the point where you could be buying your own home within 2 years, using traditional financing. Although you might feel that you’re happy in your current situation, ask yourself a simple question – do you really want to be paying rent for the rest of your life? Or would you rather take the steps needed to get your credit back to where it should be, and use that money to buy a place you can truly call your own? The decision shouldn’t be that hard, and you’ll find the steps can be easier than you might think. Lori Jake If you like this article and would like to receive more valuable information like this, Click here to sign up NOW! |
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