Foreclosure and Credit Repair

It’s hard to imagine credit repair after foreclosure when you are going through this financially devastating process. Foreclosures are on the rise in America, with over three million foreclosures predicted for this year and the worst projections affecting the first half of 2010. Unfortunately, foreclosure will negatively impact your credit, but with diligence and patience, you absolutely can repair credit score. A foreclosure will be considered a negative credit event and remain on your credit report for seven years and in the short term, there isn’t anything you can do about removing it. However, a foreclosure will carry the most negative weight for your credit score in the first few years. In the meantime, if you are taking care of other financial aspects related to your credit health and building a positive credit history, you will see that as the years go by the foreclosure will affect your credit score less and less. While there is no quick-fix for your credit score after a foreclosure, it is important to recognize how you got there. You may consider contacting a credit repair consultant to help guide you through the process of taking charge of your credit health.

For more tips on how to help your credit score, call Vitesse Financial toll free at 866.407.9110. Vitesse Financial has over 15 years of spot-free experience and will handle your case with compassion and care.

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This entry was posted in Building Credit, Credit Repair Professional, Credit Repair Services, Foreclosure and tagged , , , , , , , , , . Bookmark the permalink.

3 Responses to Foreclosure and Credit Repair

  1. Pingback: Tweets that mention Foreclosure and Credit Repair | Vitesse --

  2. Emi says:

    I really didn’t know that a foreclosure would be the biggest thing to drag your credit score down. Thanks for that bit of info!

  3. Aida Petrio says:

    Three million homes in foreclosure is really troublesome! It’s even sadder that you really can’t do anything about it!

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