Mortgage Blog
Raise your credit score in 3 months
August 20, 2019 | Posted by: Yolanda Fequet
Raise your credit score in 3 months-another way brokers can help when the banks will not...Check out the last DLC blog post...
While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways.
Recently a DLC Broker had a client referred to him who had a conundrum. She was paying her credit card balances on time month after month, but couldn’t get them paid down due to the high interest rates. As a result, she had a 567 credit beacon score. Her bank would not refinance her mortgage or offer her a debt consolidation loan. She was stuck.
The solution was to use some of the equity in her home to pay off the credit card debt and lower the payments to a more manageable monthly. Even though her mortgage interest rate was higher than a regular lender, it was a lot lower than a credit card rate and it was amortized over 30 years.
The result was that within three months this client had her credit score jump from 567 to 769!
What an amazing result. Now there’s one more person who knows that mortgage brokers can do things that the banks can’t do.
If you have a challenging story, be sure to contact us for professional for help.
