Improve score
Improve score
I have a bad credit and want to take a out a loan may be at the end of the next year. What steps can I take to improve my score?
4 Answers
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1
With a bad credit, you won't be able to get qualified for a mortgage. After the crisis in the mortgage market, the lenders are not giving any kind of sub-prime mortgages. In order to know some steps to improve your credit score, you will have to check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
1
As said by Nicss, it is indeed difficult to get approved for a loan with bad credit. So don't hurry in taking out a mortgage loan even with poor credit. Instead, put in serious efforts to improve your score first.
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Repay your bills on time and help yourseld by taking out a secured creidt card to establish positive credit history.
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Apart from all the above, if you want to get a 'qualified mortgage', then you'll have to increase your monthly disposable income as well as other assets like other real estates owned, investments (stocks, bonds, CDs, etc), savings and so on.