If youve ever applied for a home loan with less than stellar credit, you know how much extra you have to pay. Even though it can take some time, credit repair is definitely worth pursuing.
Credit Scores
When considering your application for a home loan, a financial institution looks at your credit and assigns it a score. In the industry, these scores are loosely referred to as a type of paper. The best scores equate to A paper, while lower scores are graded just like in school, to wit, B, C, D and Oh, my god paper. If you have A paper, you can expect to get the best deal, while lower grades are known as sub-prime borrowers.
Credit Repair
Credit repair is important because even small movements in your credit score can move you from one score to the next. If you move from B paper to A paper, you will save thousands of dollars in lower interest rates. A credit score of roughly 680 is considered to be A paper. If you have a score of 670, credit repair can bump you to 685 and save tens of thousands of dollars. In short, you want to make the effort to repair your credit whenever possible. Dont just sit and suffer with sub-prime loans.
To repair...
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