May Newsletter 2023

Happy Mother's Day!

The Credit Restoration Institute
wishes you and your loved ones a special Mother's Day with the lovely ladies in your lives!

Join Our Membership Committee!

We're looking for passionate people to join our standing committees to offer a helping hand in several business-critical projects as we work to advance our mission of bettering lives through credit restoration. Individuals with any level of skill, experience, or interest in the following topics: branding, social media, program development, financial management, human resources, event planning, or board governance are welcome to apply. The monthly time commitment is estimated at four hours per month including bi-monthly meetings.

Please complete the application below in its entirety and submit by Friday, May 26th. We estimate that this form should take no more than 15 minutes to complete.

In the meantime, please visit our website: www.creditrestorationinstitute.com for more details about the organization. Apply Here

Mortgage Fees Are Changing For Homebuyers Soon

If your summer plans included budgeting for a new home, make sure you prepare for the new changes to the mortgage fees coming this month. According to USAToday, starting May 1, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted because of changes in the Loan Level Price Adjustments (LLPAs). These are the fees that vary based on a borrowers credit scores, down payments, types of home and more. With these changes, borrowers can expect to see differences related to their credit scores and an effect in their downpayment sizes.

"In some cases, people with higher credit scores may end up paying more while those with lower credit scores will pay less," quotes the article. The article focuses on what exactly the fee changes are, the loans the fees are being applied too, why these changes are being made, and if these changes could be seen as positive or negative changes to the potential home buyer entering the market.

If you're looking to buy a home, click the button to learn more.
Click Here For The Full Story

Happy Memorial Day!

The Credit Restoration Institute sends our love and thanks to the family members of those who have graciously served our country. Here are some events happening around the city for you to enjoy over the holiday weekend with family and friends:

Wine and Bundtini Flights : Monday, May 29th 11AM
Sandston Parade: Monday, May 29th 1PM

Real Results!

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here

Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157

mail@creditrestorationinstitute.com

C​redit Restoration Institute Welcomes Greg Carafello to Board of Directors

North Chesterfield, VA] - Credit Restoration Institute (CRI), a non-profit credit repair agency dedicated to improving the lives of individuals and communities through education and individual counseling, is pleased to announce the addition of Greg Carafello to its Board of Directors.

As President and Co-Founder of Executive Franchise Group, LLC, based out of New York City, Carafello brings over four decades of expertise and skill in the franchising industry, having served as a master franchisee for several leading brands. He is also a Certified Franchise Executive under the Institute of Certified Franchise Executives (ICFE), endorsing the highest standards of quality training and education.
CRI's Board of Directors is responsible for governing the organization through policy and strategic goals creation, fundraising and relationship development, and general organizational oversight.

"We are thrilled to welcome Greg Carafello to our Board of Directors," said CRI's Executive Director Robert Linkonis. "His extensive experience in the franchising industry and commitment to enhancing the professionalism of the field through quality training and education make him an invaluable asset to our team. We are excited to work with him to continue advancing our mission of serving our community through education and individual counseling that results in improved credit scores and better lives."

Individuals interested in learning more about Credit Restoration Institute's programs and services or applying to join the Board of Directors can visit the organization's website at https://creditrestorationinstitute.com/application-for-bod

Contact: Robert Linkonis, Credit Restoration Institute, 31 North Providence Road, North Chesterfield, Virginia 23235 Phone: (804) 823-9601 Email: mail@creditrestorationinstitute.com

Homeownership Down Payment Assistance Program (DPA)

The HOMEownership Down Payment and Closing Cost Assistance Program (DPA) provides financial assistance to first-time homebuyers on adjustable gap terms. This program allows homeowners to purchase homes at or below 80% of the area median income (AMI) and to expect homes that are safe, of quality, and attainable. Assistance is provided in the form of a grant with a mandatory “affordability period” for applicants to continue to claim the house as their primary residence. An income-eligible homebuyer may receive up to 10% or 15% (within the established approved areas by DHCD) of the sales price, plus up to $2,500 to pay for the cost of closing (e.g. attorney’s fee, title insurance, taxes as needs demand).

Eligible applicants: Qualify as a first-time Homebuyer; Receive homeownership counseling from a HUD-certified agency and HUD-certified Housing Counselor; Complete a HUD-certified Homebuyer Education Course through a Virginia Housing or Neighborworks® certified course; Demonstrate that their income does not exceed 80 percent of the AMI; Have a median credit score of 620 or higher and debt to income ratio that does not exceed 43%; Contribute one percent of the sales price of the home from their personal funds if the income is between 50%-80% of the AMI, and if the income is less than 50% of the AMI, they can contribute $500 towards the purchase of the home.

If you are a first-time homebuyer this could be a valuable resource. Click the button to learn more.

Click Here For The Full Report

Current Inflation Trends

According to the International Monetary Fund Global inflation is expected to fall from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, still above pre-pandemic (2017–19) levels of about 3.5%. In their recent January article, they projected the fall of global growth from an estimated 3.4% in 2022 to 2.9% in 2023, then a rise to 3.1$ in 2024.

The possibility of risk is still high but a drop in inflation numbers is still possible. There are many factors that play a role in the outcome of the financial standing of the average consumer such as international health concerns, current military involvement, and stricter financing costs across global markets.

Click the button below to learn more.

Read More

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m.

(804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Fill out this easy form on our website

How Americans and Their Mortgages are Being Affected!

Happy St. Patrick's Day!

The Credit Restoration Institute wishes you and your loved ones a Happy St. Patrick's Day. We hope you have a fun day full of celebration.

Looking for festivities around town to celebrate? Check out some fun options HERE.

Biden’s $25,000 Downpayment Toward Equity Act

A new bill under the Biden administration, known as the $25,000 First-Time Home Buyer Grant, can help first-time homebuyers receive up to $25,000 in cash to purchase a new home. This proposal is one of many first-time home buyer grants and credits moving through Congress.

The act aims to help first-time homebuyers plant their feet, create memories, and generate wealth. "To provide downpayment assistance to first-generation home buyers to address multi-generational inequities in access to homeownership, and narrow and ultimately close the racial homeownership gap in the United States, and for other purposes," reads the opening statement of The Downpayment Toward Equity Act of 2021.

If you are a first-time homebuyer, make sure you know all the options available.
Click here to read the full report and learn more!

Big Corporations are Becoming Landlords

Mortgage rates are steadily climbing, and single-family homes remain in high demand. These factors alone have made the home-buying process anything but worry-free for first-time homebuyers. But lately, many would-be homeowners find themselves face-to-face with big, shrouded investment companies.

These days, it is not uncommon to think that large investment companies are purchasing houses in bulk and converting them into rental homes. A situation like this would mean that large subsets of U.S. homes are being taken off the market, resulting in a more competitive market, fewer available houses, and inflated home prices.

Click here to continue reading

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit. 

Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157

mail@creditrestorationinstitute.com

Tax Time is Approaching... Don't Be Late!

Happy Valentine's Day!

The Credit Restoration Institute wishes you and your loved ones a Happy Valentine's Day. We hope you have a great day surrounded by those you love.

Make Sure You are Prepared for Tax Season

As owner Robert Linkonis says, “Uncle Sam is the largest debt collector in the country.” Make sure that you pay your taxes or consider calling the IRS and getting on a payment plan. Do not just let it sit out there.

The IRS is reminding taxpayers to take necessary actions during this tax season. When filing, some essential items to consider are whether or not you'll be affected by the tax credit levels and how to avoid refund delays.

Tax time is stressful, so it is crucial you have helpful information to help throughout the process. You can access the full report from the IRS here.

Read More

IN THE NEWS: Keep Your Credit Cards Safe While You Travel.

The holiday season may be behind us, but vacation season is just starting to kick off. Taking a trip is intended to be a time of relaxation and unwinding, making bills and credit card balances the last thing you want on your mind.

Even when traveling, “checking balances more often is probably good advice,” says Nessa Feddis, senior vice president for consumer protection and payment for the American Bankers Association. Think of it as a way to curb unnecessary spending and be aware of security threats that come from being overseas.

Click the button below to learn more about prioritizing your credit during your travels.

Read More  

Real Results!

Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

 
Read more about credit worthiness

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Credit News for the New Year!

Happy New Year!

The Credit Restoration Institute wishes you and all your loved ones a Happy New Year. We hope you are off to a great start accomplishing any new goals.

Download the perfect companion for 2023!

Five tips to quickly improve your credit score.

Your FICO score is nothing more, nothing less than a mathematical formula. Knowing this formula is key to having a great credit score.

Your credit score can be as low as 300 or as high as 850. That means that you have 550 points that you can either gain or lose when it comes to your credit score.

Over the last few years, I found five tips that account for the most significant improvements to your credit score in the fastest time. You can access these tips in the guide below.

Click Here To View Our Free Guide

IN THE NEWS:

With New Interest Rates Coming, Handle Your Debt Now.

With the New Year comes new interest rates even higher than before. "So this is really important. If you're carrying a balance, now's the time to take some action," said Bankrate.com Chief Financial Analyst Greg McBride in a video interview with Yahoo.

Since these new interest rates can increase credit card debt, McBride urges consumers to increase their payments and look at all their options when it comes to their debt, like 0% balance transfer options.

Click the button below to learn more about the upcoming effects of the new interest rates and how you can stay ahead.

Read More






Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here





• Credit Consulting • Credit Report Audit

• Credit Education • Credit Disputes

Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

Fill out this easy form on our website

Happy Holidays from everyone at the Credit Restoration Institute!

Happy Holidays to you and your loved ones from everyone here at Credit Restoration Institute. We hope you enjoy a safe and memorable season with those who mean the most.

Download the perfect holiday companion!
Five tips to quickly improve your credit score

Your FICO score is nothing more, nothing less than a mathematical formula. Knowing this formula is key to having a great credit score.

Your credit score can be as low as 300 or as high as 850. That means that you have 550 points that you can either gain or lose when it comes to your credit score.

Over the last few years, I found five tips that account for the most significant improvements to your credit score in the fastest time. You can access these tips in the guide below.

IN THE NEWS:

TransUnion LLC Confirms Recent Data Breach with State Attorney General’s Office

On November 7, 2022, TransUnion LLC reported a data breach with the Massachusetts Attorney General after information in the company’s possession was subject to unauthorized access. According to TransUnion, the breach resulted in the names, Social Security numbers, financial account numbers, and driver’s license numbers being compromised. Recently, TransUnion sent out data breach letters to all affected parties, informing them of the incident and what they can do to protect themselves from identity theft and other frauds.

Read More





If used correctly, credit cards can be a beneficial tool when shopping during the holiday season. Many people turn to their credit cards for luxurious travel expenses, to pay for high-priced gifts, and to splurge on end-of-the-year purchases.

With perks like credit card rewards, cash-back opportunities, and more, it can be tempting to use your credit card for major and minor expenses. Bankrate wants to ensure you're getting the most out of your holiday spending by sharing a list of ways to save with your credit card this season.

Click here to continue reading

It can be expensive, but for many, holiday travel is essential.

Whether you're vacationing solo or traveling to visit loved ones, planning ahead can help ensure a successful trip. HerMoney put together a list of tips to help build (and stick to!) your holiday travel budget.

Continue reading in main article






Our custom credit disputes leverage the consumer protection laws and the credit bureaus’ automated codes to help remove or correct unverifiable items.

As our client, we dispute accounts with the bureaus and creditors on your behalf. Using our years of experience, we use the tools you need to move your case forward and get the results you are looking for.

Mortgage readiness and getting pre-approved all imply creditworthiness. You, too, can improve your credit.

Read More About Creditworthiness Here




Give us a call today to start your credit repair journey!
Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com

A Warm Welcome to our New Board of Directors

 

We are thrilled to announce the Credit Restoration Institute Non Profit Board of Directors!

Meet our new Board of Directors! We are here to help people like you improve your credit scores and better their lives. Our team of legal, legitimate, and local professionals work closely together and with you to achieve your financial goals. Including the most important part, your creditworthiness.

You may have been one of the many Americans who signed up to receive regular updates on the Biden-Harris Administration's student debt relief plan in the past few weeks. As everyone prepares for the opening of the application window, the Department of Education is sharing critical information on how to protect yourself from scammers during this vulnerable time.

The Biden-Harris Administration has put together a do's and don'ts list to help notice any red flags that might pop-up during your application process. But the most efficient way to protect yourself is by making sure your information stays accurate and up-to-date, according to the administration. 

​

For more information and to read the entire list, click here.

Current Mortgage Trends

 A few weeks ago, The Federal Housing Finance Agency announced at the Mortgage Bankers Association’s annual conference that it will now accept two new credit score models, the FICO 10T, and the VantageScore 4.0, for use by Fannie Mae and Freddie Mac. This new expansion has the potential to allow more Americans the opportunity to purchase a home. 

“The enterprises have long relied on classic FICO, and it has met their basic needs, but it is time to recognize the significant innovations that have occurred in credit score modeling,” said Sandra Thompson, director of the FHFA, in Nashville, Tenn.

The institutions Fannie and Freddie were created by Congress, and are backed by the FDIC. They recognize a significant amount of the mortgages born in the U.S., so many lenders abide by the guidelines set out by Fannie and Freddie when they give mortgages to borrowers.

Read the full article here.

Another in the Best Practices Workshop Series!

Get advice on how to establish or repair your business credit as well as funding advice from a credit repair expert.

The registration fee is $30 and your attendance includes access to a recording of the webinar, as well as copies of all slides and handouts.

Register here!

Give us a call today to start your credit repair journey!

Mon-Fri 9 a.m. - 5 p.m. (804) 823-9601 | (800) 648-5157
mail@creditrestorationinstitute.com