Helena Talbot's blog - Tips for Rebuilding Your Credit After Foreclosure

Many people have weathered through some tough times over the past few years. But now, as things begin to look a little brighter, it's time to consider starting over the right way and with a plan.

As a member of the Top 5 in Real Estate Network®, I am well versed in credit and lending issues and can offer some great tips and information on taking the steps to once again qualify for a mortgage.

Here are some tips for getting your credit back on track:

Pay your bills on time: The FICO score, the dominant credit score used by lenders, gives the greatest weight to payment history, so make sure you consistently pay your bills on time.

Review your credit report: You're entitled to a free credit report once every 12 months from each of the three national credit bureaus -- Experian, TransUnion and Equifax. You should get a copy and check it for any inaccuracies. To get your free credit report, go tohttp://www.annualcreditreport.com.

Check your mortgage: You want to be sure that you don't still owe anything on your old mortgage. Sometimes proceeds from a foreclosure sale aren't enough to cover what's owed on the mortgage, which would leave you owing the difference.

Apply for credit: In particular, apply for different varieties of credit. Credit-scoring models value having different types of credit, so apply for everything from a credit card to a car loan but don't apply for too much credit at one time. Too many inquiries on your credit report will look poor.

Don't fall prey: Watch out for credit repair companies that promise to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job -- after paying a fee for the service. "The truth is, that no one can remove accurate, negative information from your credit report," according to the Federal Trade Commission. "It’s illegal." Only the passage of time can assure that negative, but accurate, information on your credit report will be removed.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate.  2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800   www.facebook.com/LoudounCountyConnect  www.twitter.com/ExitAshburn  www.Linkedin.com/in/HelenaTalbot