| Credit repair after foreclosure is something that is | | | | may want to consider consulting a licensed credit |
| being sought more regularly due to the increase in | | | | counselor. They can help you prepare a budget and |
| the number of foreclosures in recent months. | | | | make a plan to pay your outstanding unsecured |
| Foreclosure can be devastating, but it is not a death | | | | balances. |
| sentence and you can emerge from it and own a | | | | Foreclosure is something that no one wants to go |
| home again. | | | | through, but by taking the right steps, you can own |
| A foreclosure will go on your credit record and will | | | | a home again. Repairing your credit will not happen |
| likely stay there for seven years. The best thing you | | | | overnight. Making the decision to do what it takes is |
| can do is begin to rebuild and repair your credit. Set | | | | the first step towards getting your credit back on |
| some new goals for yourself and develop a plan to | | | | track. Begin buy getting a copy of your credit report |
| stick to them. | | | | and taking inventory of what is on it that can be |
| Make a budget and stick to it by living within your | | | | improved. |
| means. Many people that are going through | | | | Nothing is a death sentence these days. If you take |
| foreclosure fell prey to unscrupulous lenders or | | | | the right steps you can recover from anything. I |
| bought more home than they could afford with a | | | | have seen people that have filed bankruptcy and |
| mortgage that did not have a fixed interest rate. | | | | were able to get a mortgage within 6 months of |
| Work at repairing other items on your credit report | | | | completing their repayment plan. The important part |
| by disputing inaccurate information. Begin making your | | | | of getting back on your feet is being able to make |
| payments on time and begin paying down | | | | your payments on time and not obligating to |
| outstanding credit card balances. The past two | | | | something that you cannot afford. Being out of debt |
| statements say a lot and may be more easily said | | | | in 12 months may sound great, but if you cannot |
| than done. | | | | afford the cost, it is better to ask for a longer term. |
| Sometimes when we get into a stressful situation, | | | | You will still reach your goal; it just may take you a |
| like foreclosure, we become overwhelmed and it may | | | | little longer than you planned. |
| not be easy to see a way out. In this situation, you | | | | |