Inaugural Post: Tips, Info & More!

Cutting the Crap......

I don't know about you but I'm pretty tired of reading articles containing so-called "credit tips" by people with several letters after their name who probably have no idea what it's like to be broke.  They've probably never:

• Been jobless
• Gone through a horrible divorce
• Been a jobless post-grad watching their finances go down the toilet.

You know, the things many Americans have had happen to them, things that have multiplied since the recession in 2008 that left so many people with worse credit than they've ever had in their entire lives.

While many of the authors of these wonderful credit blogs are happily sipping away at mocha-chino-lattes at their favorite coffee shop telling you to just "pay your bills on time" (important, we know, but seriously!), people like me - licensed mortgage loan originators - are working with real people who've been hit by the recession and have been hit HARD.  We're looking at credit reports and understanding how slim the times have been and how hard it is to come back after a financial downfall.

Hence the birth of my blog, the Ft. Wayne Mortgage Minder.  I wanted a centralized location with more than just the same old rehashed information from overeducated, under-experienced authors.  Many of these authors have never had to look a consumer in the face who's just come out of a horrible divorce and had to tell them they simply can't help them right now because their lyin' cheatin' ex trashed their credit rating for them.  Well, guess what?  I have.  And to fly in the face of these other internet authors I'm beginning my blog with one of the biggest gimmes out there, so keep on reading.

Before you scroll down, just a few things:  Most sites that inform you on credit and home lending promise you all sorts of success if you buy whatever they're trying to sell you on the site.  In return for "just 29.95" they'll give you the salient tips for credit and lending success.  I paid for a few of these to see if they had better info than I did.  Most of them?  Complete crap.  Seriously.  Don't even waste your money!

So that you know, you will NEVER be asked to buy anything on my blog. The information I will be posting is given simply to inform and to educate and that is all.  I am a loan originator and I do want your business, don't get me wrong!  But the posts you'll be seeing will be generated from real-life scenarios, questions folks have asked me and things that I've run into in my line of work.  And, I'll also post new information as lending products and programs change so you will always be informed.

And on to the Tips.......

For my inaugural post, I'm going to share something that will improve your score almost immediately.  This one's a "gimme" and it's one of the few out there that requires very little work and actually improves your score without paying a single bill.  This little trick - called the Optout Prescreen Form - takes about two minutes AND it reduces the number of calls you get from solicitors.

See, the three credit reporting agencies (Equifax, Experian and TransUnion) provide basic information about you to lead buyers that they scrape together whenever you authorize a bank or lender to pull your credit.  To sidestep this for my customers I ALWAYS remove your phone number and email address BEFORE I pull your credit report!  Don't worry about asking Macy's or the bank to do the same the next time you apply for credit.  The solution is much simpler.

People like me pay top dollar to lead companies to obtain these lists.  So, if you're not on the Federal Do-Not-Call Registry, you're going to get a call from someone like me.  Before we get to the links, know these things, as they are VERY important:

• Personal information is NEVER shared by the credit bureaus.  We receive information that is already matter of public record, such as your current mortgage balance and who your current lender is.  I never, EVER receive things like social security numbers, birthdates, not even account numbers.

• If you have added yourself to the Federal Do-Not-Call List, don't worry.  You're not going to get a call.  Trust me, companies who pay for leads must then pay for updates of the DNC list and scrub numbers against it.  In fact I just received an updated list from my office manager this morning.  Penalties to companies and individuals who violate this are STIFF and no one wants to violate it, trust me!  If I had a dime for as many times I've heard my boss say "scrub those lead sheets!!  Scrub em!!"  I wouldn't need to close loans, I'd be rich!  So, before you EVER get a call from me, I've already invested serious capital into you and you don't even know it.

• This opt-out form sends your request to ALL THREE credit bureaus (Equifax, Experian and TransUnion) and it gets updated almost immediately (see a future post on the time it takes for reporting to happen).  In one fell swoop, you've just saved yourself from tons of future solicitations.

• Filing out the form online only opts you out for 5 years, but if you print it off and mail it in it removes you PERMANENTLY.  Take the extra time to mail the mere one-page form in.  Trust me, it's worth it.

• This little opt-out measure WILL improve your credit score in most cases.  Strange but true!

Okay, here are the links:

• Federal Do-Not-Call Registry
• Opt-Out Prescreen

Your job now?  Navigate to both sites, fill 'em out and send to EVERYONE you know!  Your best bet is to email the link to this post so they know that you're not just forwarding some email that may or may not be true.  Remember, you're trying to help your family and friends, not leave them wondering if you've just sent them some email forward without scoping the accuracy.

Thanks for taking a minute to read!  If you have general questions, post them below or click here to email me directly!  Please do NOT post ANY personal information such as social security numbers or phone numbers below in the comments section.  They are visible to everyone.  I will only take that information over the phone or in person.  On that note - emails reach me immediately on my cell phone, 24/7, for questions or to pre-approve you right away!

This has been Kari Peters with Ft. Wayne Mortgage Minder reminding you that knowledge is power but knowledge of credit makes you downright dangerous!  Thanks again and see you next week!