Credit Report Corrections
Your credit score is first determined the day you were born, via your social security number. This number identifies you with your parents, your family’s background and the demographic in which you are surrounded. Although the Equal Credit Opportunity Act (ECOA) was designed to prohibit credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age or if you are receiving public assistance), the social security number was enacted in 1936 for the sole purpose of tracking ones earnings and determining the benefits of US workers in a specific area or region. Ergo, no one starts off with a credit score of “0” to work their way up from, nor does anyone begin with a credit score of “850” or “900” and certain circumstances causes it to go down. So the last thing you need on your credit report is negative or inaccurate information, which will bring your score down even further. We specialize in credit dispute, credit repair, and credit restoration. Let us put our years of experience to work for you.
Commonly negative items on your credit report, i.e. accounts in collections, late payments, charge-offs, stay on your credit report for up to seven years. Some items can stay on your report a bit longer, such as Chapter 7 bankruptcies, judgments, and a few others stay on your report for up to 10 years. Many items in collections play the proverbial game of "hot potato", meaning just before the "7 year itch" is up and the negative item is set to fall from your credit report, the collection agency will sell your debt to yet another collection agency. This resets the seven year clock and places the item back on your credit report under the new agency's name. Typically when a debt is sold, the original documentation showing owner responsibility for that debt does accompany the debt being sold; however, there are those rare times that it does, giving the collection agency the means to validate the debt. If this is the case, we will put our expertise to use in negotiating the debt to a lesser amount, and develop a manageable payment plan to get you out of debt fast, and clear it from you credit report even faster.
Validated Debt Settlement
Student Loan Restructuring
For many people, Student Loans are the number one reason why they cannot qualify to get a home loan. Student Loans were originally supposed to be “good” debt that, like a mortgage, functioned simply as an investment. But the high cost of college today means that student loans are burdensome enough that they constrain the lives of the those they are supposed to launch, making them less likely to buy homes. They also possess less wealth, save less for retirement, and are less satisfied with their work. Your monthly student loan payment is calculated at 1% of your total balance when obtaining a home mortgage. Refinancing or Restructuring your payment plan can lower this calculation significantly, translating into increased buying power, a.k.a MORE HOME. With help from the specialists at Project Ownership, you may qualify for Student Loan Refinancing or Payment Plan Restructuring, which can help lower your Debt-to-Income ratio enough to qualify for a home mortgage.
There is no other feeling quite like home-ownership. Making the decision to become a home owner, whether it be for the first time, or for the fifth time, is by far one of the most gratifying feelings in the world. Although exhilarating, the decision to buy a home can also be terrifying. But with the right team, the right mindset, and God’s guidance, the process to home-ownership can be a simple, stress free one. The first thing you want to do is gather the right team. You will first need a good realtor who will find the home that’s right for you and your family, and then negotiate with the seller on the listing price to get to a number you can afford. Next you will need to find the right mortgage broker. The broker will communicate with the realtor on the price of the home, and will then negotiate with the lending company to get you approved at best interest rate possible. Project Ownership 101 will be your One-Stop shop aligning your credit, realtor, broker, lender to ensure you are mortgage ready.