October 15, 2020
Bad Credit? No Shame.
2020 has been a tough year. COVID-19 has impacted everything from our healthcare system to our economy. It’s not surprising that due to high unemployment, many people are struggling right now to get debt under control. We see it all the time. People don’t think they can ever get into their own homes because of the debt they have. But we also see that it’s possible to make huge improvements with the right help. With that in mind, we want to provide a few tips to help you get started and on the path to a better financial picture.
Get Your Credit Score and Reports
The best way to know what you’re working with is to truly know where you’re starting. Your bank can help you with your credit score and you can request credit reports from all three major credit reporting organizations. Once you have those, you can see what’s on your record and determine how to start. During these times of COVID-19, accessing your credit is important. That’s why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021 –annualcreditreport.com.
Work with a Local Credit Repair agency
Even with this information, it can be a daunting task. There’s a lot at stake in terms of your financial future. That’s why we always recommend the use of a credit repair specialist. We specifically refer potential clients to Dale Marco at Best Credit Rx, which was founded in 2004 and is dedicated to helping individuals repair their credit.
Fix Errors on Your Report
Sometimes the information on your credit report isn’t consistent with the information you have about your credit. Mistakes can happen, but it’s also imperative that you fix those mistakes as soon as you find them. If you contact the credit bureau, they’ll open an investigation into the information and can fix it for you.
Maintain a Good Credit History
To repair your credit or maintain a good credit score, there are a few steps you should take:
- Always pay bills on time.
- Keep credit card balances low.
- Don’t close out old credit cards.
- Limit applications for new credit.
- Regularly check your credit report.
Applying for a Mortgage
Applying for a mortgage will require us to pull a credit report. You’ve probably heard that your credit score will go down if you have too many reports pulled. While that can be true, know that the credit bureaus will take into account multiple inquiries for the same kind of transaction, such as shopping around for a mortgage, and not penalize you.
More than anything, we want you to know that there is no shame in seeking help when you need to repair your credit. Especially today as our economy is continuing to be affected by the pandemic, more people will find themselves concerned about their financial help. Don’t wait.
Do you want to know about the process to apply for a mortgage? GoPrime Mortgage in West Asheville is here to help. Call us today –Zachery Adam at GoPrime Mortgage in West Asheville.
Craving Time at the Beach? Closest Beach Trips from Western North Carolina Living in Western North Carolina is a dream. We love being surrounded by some of the oldest mountains in the world. That being said, sometimes we have a craving to stand at the ocean and...
Data Security and Buying a Home In early May, the entire Western North Carolina area and the city of Asheville felt the effects of the ransomware attack on the Colonial Pipeline. The gas line that supplies much of the southeast was interrupted by a cyber-crime group...
Significant Changes for Buyers with Student Loans For so long, potential first-time home buyers have had concerns about student loans debt and getting a mortgage to buy a home. But there’s good news. Changes in student loan calculations may create more opportunities...
The Meditative Benefits of Coloring (Plus, a free GoPrime Coloring Page!) Coloring isn’t just for kids. Over the last few years, there’s been a rise in the number of adult-oriented coloring books on the market. Whether you choose crayons, markers, or colored pencils,...
Have a Safe and Happy Labor Day Weekend Labor Day, celebrated the first Monday of September, is right around the corner. Now that many of us feel more comfortable out and about, it’s time to consider what activities you and your family can participate in over the...
How we can help you
Although labeled an independent mortgage lender, GoPrime Mortgage, Inc. is not a one-man operation. Zachery Adam and his Team has the support of a streamlined operation, with professionals who assist in every phase of the loan process. His team includes an appraisal vendor, loan processors, underwriters, closers and even the CEO or president if needed. When you choose to work with Zachery, you get the support of his team as well.
It’s important to Zack that he and his team are approachable and can provide assistance to home buyers who are often inundated with misinformation about the financial picture and mortgage options. In an automated culture reliant on digital communication, it’s time to put the human element back into these conversations. He could never be behind the scenes.
Let's Get Started
862 Haywood Road Asheville, NC 28806