Gustan Cho Associates's video: Re-Establishing Credit After Bankruptcy And Foreclosure

1. Restoration of credit after bankruptcy and takeover * Bankruptcy and/or foreclosure will temporarily reduce a person's creditworthiness by 150 points or more - But there is light at the end of the tunnel - A person's credit performance will naturally increase with the age of bankruptcy and/or enforcement - A person who has filed for bankruptcy and/or has previously dealt with enforcement can obtain a loan again - Will be eligible to buy a home - There are mandatory waiting periods to re-qualify for a residential mortgage after bankruptcy by the person or persons who have previously enforced - Just exceeding the mandatory waiting period does not automatically qualify the home buyer for a home loan - Lenders want the applicant to renew the loan after bankruptcy and/or enforcement * Extension of the loan after bankruptcy and enforcement should start as soon as possible. 2. Using secured credit cards to restore credit * The best way to restore your credit after bankruptcy and foreclosure is to get multiple secured credit cards. - Secured credit cards are the best tools to restore your credit after bankruptcy and foreclosure - Each secured credit card can help you increase your credit score by 20 or more points after filing for bankruptcy and an acquisition - Consumers should try to get 3 to 5 secured credit cards after bankruptcy and/or enforcement - Not only secured credit cards will help in assessing your creditworthiness - But will develop credit history and most lenders will want to see at least three existing trade lines the following bankruptcy and/or housing event - Secured credit cards will open the door to unsecured credit cards and other loans for the future * In addition, the credit limit on unsecured credit cards will most likely increase your credit limit without paying an additional deposit. Read more https://gustancho.com/re-establishing-credit-bankruptcy-foreclosure * You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response. Or write to us at gcho@loancabin.com. We are available 7 days a week, in the evening, on weekends and holidays. * CHECK IF YOU QUALIFY: www.gustancho.com/fast-quote ***** Follow me ***** on Social Media 1. https://www.facebook.com/TheGustanChoTeam/ 2. https://www.facebook.com/alexcarlucciMortgage/ 3. https://www.instagram.com/gustanchoas... Be sure to subscribe for more: https://www.youtube.com/c/GustanChoAssociates ALEX CARLUCCI - SVP Mortgage Banker, NMLS # 229891 ALEX STATE LICENSES: - Alabama - Colorado - 100511536 - Florida - LO40799 - Illinois - 031.0026265 - Indiana - 38913 - Michigan - 229891 - Mississippi - Pennsylvania - 72654 - Tennessee - 200345 COMPANY ALL-STATE LICENSES: - Alabama - California - Colorado - Florida - Georgia - Illinois - Indiana - Michigan - New Jersey - Pennsylvania - Tennessee - Texas - Ohio All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Loan Cabin, Inc. and GCA does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Loan Cabin, Inc.. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.