CRI Is Seeking Volunteers, Join Today!

Happy Father's Day!

The Credit Restoration Institute wishes you and your loved ones a special Father's Day! Cheers to those important men in your lives.

Become a CRI Volunteer!

Are you looking for a fulfilling way to contribute to your community? Tired of being cooped up at home and eager to make a difference? Look no further! We have an exciting opportunity for you to join our team as a volunteer and help us create a positive impact on the lives of individuals in need.

If you're interested and would like to know more, click the button for more details.

Volunteer Today

Biden Signs Debt Ceiling Deal Into Law

President Joe Biden has recently signed into law the bill that will suspend the nation's debt limit through January 1, 2025, to observe a never-before US default. Pausing the debt limit takes the threat of default off the table until after next year’s presidential election. In addition to addressing the debt limit, the law focuses on non-defense spending, work requirements for food stamp recipients and the use of covid-19 relief funds, among other policy provisions.

“I just signed into law a bipartisan budget agreement that prevents a first-ever default while reducing the deficit, safeguarding Social Security, Medicare, and Medicaid, and fulfilling our scared obligation to our veterans,” Biden said in a tweet, which was accompanied by a short video of him signing the bill.

Click below for more information on the new bill.

Click Here For More Information

Don’t Store Cash in Venmo, PayPal, and Other Payment Apps, Financial Watchdog Warns

The Consumer Financial Protection Bureau (CFPB) advises against storing money in nonbank peer-to-peer payment apps like Venmo, Paypal, and CashApp due to the lack of automatic government insurance. As the popularity of payment apps grows, with over three-quarters of U.S. adults using them, CFPB director Rohit Chopra emphasizes that these services are being used as alternatives to traditional bank accounts but do not offer the same level of fund protection and safety measures.

Read More

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

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

 

October Newsletter 2022

CRI wishes everyone a Happy Halloween and we hope you enjoy the season with family, friends, and loved ones!

Say goodbye to Summer and get ready for events and festivals catered to food, culture, and more!

Discover Richmond Tours
2022 Fall Events & Festivals in Richmond, VA:

• 2nd Street Festival: October 1-2
• Powhatan’s Festival of the Grape: October 1
• Richmond Oktoberfest: October 7-8
• Richmond Folk Festival: October 7-9
• Armenian Food Festival: September 9-10
• St. Benedict Oktoberfest: September 16-18

Click the button below for a full list of Fall events and festivals to help you and your loved ones celebrate this season.

See the full list here

Continued Mortgage Trends

Even those new to the process know that purchasing a new home is one of the biggest purchases in one's life. The preparation should begin even before you start touring homes and especially before you make an offer. Realtor.com put together a checklist of everything you need to do in case you're feeling overwhelmed in your home-buying journey.

Their checklist includes helpful todos like checking your credit score, addressing any blemishes on your credit report, zeroing in on an attainable house price, shopping for the right mortgage lender, the importance of pre-approvals, and more.

If you’re planning on buying a home and are unsure of where to start, consider creating a checklist based on what these experts believe helps set buyers up for success.

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 utilize the tools you need to move your case forward and 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

SCORE Workshop:  How to Establish or Repair Your Business Credit featuring Robert Linkonis!

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

When you need funding for your business, you don't need to tap your personal credit cards or mortgage your home or personal assets for a loan. Business credit is out there if you know how to get it!

In this interactive session, you'll learn:

• The 20 foundational steps required to get approved for $50,000 plus in business credit.
• The inner workings of the business credit bureaus: D&B, Experian, and Equifax.
• How business credit scores are calculated and how to get an 85 D&B Paydex score.
• The "Anatomy of the FICO Score" and how to increase your personal credit scores sometimes up to 100 points.
• The risks to your personal finances from credit-related scams and fraud and how to avoid them!
• The practices/products, tools and services available to help you get proper reporting of your credit.

Click here to Register today!

What our clients are saying about us

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

Become a Member of our Board of Directors

CRI is seeking seven talented individuals to join its Board of Directors to govern the organization. The monthly time commitment is estimated to be four hours per month, including bi-monthly in-person Board Meetings.

Please complete the application in its entirety and submit it by September 15th. Executive Director, Robert Linkonis, will contact you during the week of September 19th to schedule a video interview during the week of September 26th.

Click here to complete the application,

Homebuyers have faced challenges recently, but there are signs that the struggle might be in the past. It's no secret that mortgage rates have skyrocketed and the cost of homes has increased– both of which have added to the cost associated with purchasing and owning a home. “What we are likely to see is that fewer buyers will be able to afford this housing market,” says Dr. Jessica Lautz, vice president of demographics and behavioral insights at the National Association of Realtors.

This summer’s housing market can still be expected to remain a sellers' market. Buyers shouldn't expect to have the upper hand in negotiations or have an easy time finding deals. But buyers should take advantage of the extra available to view homes and put together offers. As a buyer, supply and demand are huge factors, housing inventory is still rigorously low, and the market is likely to stay strong. Instead of seeing prices drop, they are expected to grow but at a slower pace.

If you’re planning on buying or selling a home during the summer 2022 homebuying season, take a look at what these three experts believe the real estate market to look like and what you can do about it.

Click here to read the full article.




NOVA Education has introduced a new game to teach financial literacy and decision-making!

Have you ever wondered how you can identify and overcome biases that hurt you financially? Now you can. NOVA teamed up with Duke University’s Center for Advanced Hindsight to design the NOVA Financial Lab, a game that breaks down the behavioral science behind budgetary decision-making. In the game, users can practice making financial decisions and examining the behaviors that influence how they spend money, and how these choices can affect progress toward economic well-being.

Learn more about the research behind the game and how you can play by visiting their website.



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

Shopping for a home with bad credit and what you should do

Have you been considering buying a new home but are concerned about your credit score?

Home-buying can be stressful, and many people label it confusing, especially those with less-than-ideal credit scores. Most lenders look for buyers with a credit score of 620 or higher, but with research, buyers can find lenders who will consider credit scores around 580. ​

Select (from CNBC and NBC News) put together a list of lenders who work with applicants who have credit scores below the average threshold. Read the complete evaluation here.

These are 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 utilize the tools you need to move your case forward and the results you are looking for.

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

Read More About Credit Worthiness Here

 

Are you ready to make a big purchase but want to look deeper into your credit first? You're not alone.

Our credit consulting services play a huge role in separating CRI from others. Our ongoing credit consultation service helps guide you to making smart financial decisions.

We want you to know that you can count on us and the information we provide. Call us today for more details.

 

Continued Mortgage Trends

The Federal Reserve has decided to raise its key interest rate by 3/4 of a percentage. Now buyers are wondering what this will mean for mortgage rates. “We are seeing rates move up pretty briskly, and a lot of that has to do with forward-looking expectations with where things are headed,” said Len Kiefer, deputy chief economist at Freddie Mac.

Mortgage rates have already risen two percentage points since the beginning of 2022. Although they have remained consistent in the last few months, Freddie Mac estimates rates will be on the rise again, reaching as high as 6 percent.

According to Freddie Mac's primary mortgage survey, an article from The New York Times reported a 30-year fixed-rate mortgage was 5.23% in early June, up from 2.96 percent the same week in 2021.

Read Full Article 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