What is Credit Restoration?
Credit Restoration is a way to increase a credit score, usually from a low credit score to a
much higher credit score.
Why is credit restoration important?
When a homeowner is in foreclosure, the lender report foreclosure to the credit bureaus. This
significantly lowers the homeowner's credit score and put a mark on his or her credit report making it difficult to
borrow any money in the near future.
With good credit restoration, the homeowner can minimize 'negative marks' on his or her credit
report. You can do the credit restoration yourself or buy a credit restoration package. Since a homeowner in
foreclosure is usually low in money, we are for doing the credit restoration yourself, of course.
Some credit restoration programs even claim to be able to delete foreclosure from credit
reports. With so many credit repair claims out there, it is hard to see which is honest and truthful so doing it
yourself (DIY credit restoration) will give you a peace of mind. With less negative marks on credit report, your
credit score will be higher and you will be able to borrow money to buy a new home soon. Find out if your credit is
already affected by the lender filing foreclosure below for free.
Credit restoration programs
If you are considering buying into a credit restoration program, you will have an almost
limitless number of choices. Unfortunately, there are so many illegitimate credit restoration programs out there so
it is almost impossible to know which credit restoration program they should trust and sign up with. Some say that
none of the credit repair schemes work but others have proof to show that they do work on some levels. The question
is how much you should pay for them.