I have been doing FHA loans since 1972 (I started when I was 3 years old) and it used to be easy. We would underwrite a loan based on common sense underwriting. 1) do they pay their bills 2) do they make enough money to pay the bills 3) is their job stable. It was pretty simple. Did we make some mistakes, damn right we did and we were expected to make some. However credit scoring is infallible, haven’t you heard? If the computer says you can buy, you can buy. If you have a low score does it matter? Why? What about identity fraud? What about circumstances outside of your control? They can get it off your file but sometimes the damage has been done. Letter writing isn’t going to fix that.
I think we have to have attorney driven credit repair because attorneys wrote the laws to benefit attorneys. This is a fact and we all know it to be true.
The rules are the rules.
We have to follow the rules and the rules were written by and for attorneys.
The average person doesn’t understand the process enough to do this themselves. I know the government wants us to explain to the buyer they can do this themselves and they are 100% true. I also have delivered horses, cows, and pigs but both my daughters and my two wonderful grandchildren were born in the hospital with specialists that deliver babies. The attorneys are the specialists. Sure we can do the credit repair ourselves but what happens if ???
Mom and Pop credit and online repair shops are popping up everywhere. In my opinion this shows the need for someone to help the buyer and we also know the mom and pops are usually just letter writers and can often times do more harm than good.
One of the things we need to keep a very vigilant eye on is self regulating our new industry. We all have already seen the crooks, fraud merchants and their kind. We absolutely cannot let it get away like we did in housing. When you run across a crook or shyster, report them. It is your duty to your country as well as your profession. Charlatans have been around for years. I have heard of companies that promise the moon and get tremendous prices. Bad things happen to good people. We can help those people . A score is a number while people are still people. Another thing, do no harm. Building false files, getting new identities, trying a person with no credit to an account that belongs to a person with good credit, these things are possible but, not only are they fraud, they are wrong.
Medical bills and collections are only deductible to the doctor if the doctor makes ever effort to collect the debt. What is proof the debt collection was attempted? Hand it over to an attorney for collection (guess who wrote that law?) my guess is it wasn’t Joe the Plumber.
“The first thing we do,” said the character in Shakespeare’s Henry VI, is “kill all the lawyers.”. While I wouldn’t go that far I do believe we should fight fire with fire. The lawyers write the laws that require lawyers to understand them, lawyers to fight them, and lawyers to change them.
We keep voting lawyers in and they keep writing laws that make sure they have work. And we act surprised. Maybe if we started voting for strippers we would all have a pole in our living rooms, be in better shape, and even if we weren’t any better off we would have more fun.
As I stated earlier, I have been helping people fix their credit forever but now I have formed a joint venture with National Credit Federation and let their 20,000+ attorneys do what they do best, litigate. I sell they sue. Works for me. My personal NCF website is correct credit legally.
If you are a Realtor, builder, lender, or any profession that has buyers that need a certain credit score to qualify to buy your product, I think you absolutely have to either be in the credit repair business, have someone in your office that is, or have a referral partner that understands that it is hard enough to sell a home but it is especially hard to work hard and watch your buyer get turned down because of something correctable. At Correct Credit Legally we utilize the attorneys. This is their business, they made the rules and we can either play by those rules or fail. I think the choice is ours. I am always looking for partners.
Clyde Rowland