Your Credit Record and Credit Repair

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It takes 6 months to recover and repair your credit It pays to have an unblemished credit record when buying a home. It takes 6 months to recover and repair your credit good standing.

Banks like to lend money to people with little on no outstanding debt. If you where considering a new car purchase, it may be prudent to put it off until you buy your home.

Get pre approved for a home loan A pre approved loan is one of the biggest bargaining chips with which to negotiate a home's price. You may find that most brokers will not represent buyers who do not have pre approval.

Another big savings can result in the season in which you buy a home. Most buy homes in the spring and move into them during the summer. The fall and winter is a dead season real estate wise and usually a buyers market. Your dollar and bargaining clout will be stronger if you can wait.

Also be aware of innovative financing. Mortgages that require interest only may jump suddenly after 5 years when you have to start paying off principal. Have a plan and reson it out. “A wise man fights to win, but he is twice a fool who has no plan for possible defeat.” – Louis L’Amour, writer

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