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Tulsa Mortgage : Podcast 157 – Part 2

Tulsa Mortgage It’s pain when we close loans Tyler. We get paid the loan officer gets paid. So if your client doesn’t do what they were supposed to do. Show me who told them what to do. I’m not saying that clients don’t make mistakes or do so from it. You know you’ve got to own it when you got it. And in that case I don’t really tell you to go get charged. So he went and charged. So that is a way.

That within a very short period of time that you can increase that score. But my point in the whole story was it isn’t for everybody. You know it’s not like now we’ve updated and therefore it’s to cross all your credit bureaus forever. Same thing with getting collection of countermove or judgments are getting things updated for the purposes of our loan don’t necessarily do it across the board for your credit report forever. So a lot of people think that and they’re like well I did that loan a couple of years ago and they got proof of that foreclosure that was on there of the date that they got it up on my credit will we did for the first year loan.

Tulsa Mortgage For the purposes of getting the loan through Andre. We did not. Permanently get it fixed on your credit. You’re going to have to go do that go through a formal credit repair program you have to go through something to go figure that out. Yeah.

So I like to tell people this if you are listening. Let’s say you’re a loan officer and you’re watching you you’re like well what do you tell a client who hasn’t made you know. They haven’t like intentionally ruin their credit. But you know the credits messed up and they’re frustrated because they can’t you’re qualified for a loan if you’re a consumer and you’re saying hey gosh man you made some mistakes when I was younger I took that for us a visa card for free T-shirted the OSU football games that dates me.

Tulsa Mortgage What what like am I just going to get penalize for the rest of my life. You know. Yeah. Probably unless you get or seek some professional help.

You know I tell people this all the time if you get into trouble with the law maybe you’re driving your Lamborghini too fast and you get like a huge ticket going 200 miles an hour. What are you going to do if that happens to. What does the first thing you think I would do. If I was in jail and I was facing some charges.

Who would I call call or call a lawyer or I’d like to call him counselors call an attorney. OK.

Tulsa Mortgage Well when you when you have messed up your credit which by the way in case she didn’t know this employer’s full credit now to determine whether they will hire you. Creditors obviously poor credit to determine if they’ll hire you Terry Wogan in a bank if you go to a bank. Yeah you can’t even get a job at a bank. I mean it’s not happening. So you’re going to you’re going to need it right. So now you’ve messed it up. But you need it fixed so that it doesn’t continue to give you problems. So it isn’t going to happen overnight. We are to establish that right. So you have to one change your habits.

Tulsa Mortgage And for some people this is pretty basic but it’s really not that basic. You have to pay for stuff that you buy on credit. On time. You pay it on time. Thirty five percent of score is on your payment history. So if you don’t pay enough on time. It’s going to make your cuts were meant to. So pay stuff on time first of all. Pay stuff that you open because that’s kind of a good good plan. OK. And then if you do drastically mess up your credit you just have to be patient and you got to hire a professional to fix it. You can fix it yourself but you can also represent yourself in court. And you know what they say about a man who represents him self in court. What are they doing to. Represent a fool. That’s what it says. The man that represents himself the court appointed a fool. Well.

I agree with that or not doesn’t really matter. I’m just saying that there is a I hate that I’m going to use this quote but it’s a slow boat to China is what somebody has told me. It’s a slow boat to China. So if you can do it on your own but it’s like one of those things where like I’ve had people that have been working on their credit quote working on cleaning it up for three years. And we send them to credit and they do it three months what it took. What they weren’t able to do in three years. Because it’s like anything you hire professional. They know the tricks of the trade. They know the stuff that these get done and they can fix it. So the overarching answer for today’s podcast is no you cannot increase your credit score overnight. You can employ some strategies to get a increasing credit score with your lender. By paying off debt and use that would have stimulated doing that kind of thing. But if you have major problems if you have things that you’ve messed up then you probably need some form of credit repair and do it now not later. People call me all the time and then a year later they call me in the same boat. They’re like when they don’t understand why it hadn’t got better and it’s because they haven’t changed anything.

So pay your bills on time and get a pro to help you get the stuff that you put on your credit. Off good. Word. That’s the move.

Broadcasting live from that koala’s studios in Tulsa Oklahoma. You’re listening to the Steven Tyler show