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

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

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

June Newsletter 2022

When you take out a mortgage, what does that do to your credit?

Credit reporting agencies are known to use a short-term ding on your credit score, followed by a significant boost once they see a consistent pattern of regular on-time payments. A mortgage loan can temporarily lower your credit score until you can prove you are capable of handling a large sum of debt.

On average it takes about 5 months to get your credit score back on-track. It is recommended to focus on making consistent on-time payments and keeping other debt responsibilities to a minimum. Remember, not all debt is bad debt and eventually your mortgage will manifest into good debt.

Read the full RocketHQ article 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 any unverifiable items.

As a 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.

You too can improve your creditworthiness.

Read More About Credit Worthiness Here




Are you ready to make a big purchase but want to take a deeper look 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 you ensure that you’re making the best choices.

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

Join Our Workshop

Topic
Building Credit 101: Tips for the Small Business Owner

Description
You’ll learn credit restoration tips, credit building strategies, the importance of personal credit, and more. Whether you’re considering startup costs or new expansion strategies, establishing a strong credit profile can help ensure your immediate and future business plans are successful.

Guest Speaker: Robert Linkonis, Executive Director, Credit Restoration Institute

Time: Jun 29, 2022 12:00 PM in Eastern Time (US and Canada)

Click here to register

Continued Mortgage Trends

According to Freddie Mac, mortgage rates continue to fall but they still remain above 5% fueling an ongoing problem for buyers trying to break into the market.

In a recent article from CNN they reported on numbers from Freddie Mac showing that at the end of May 2021, a buyer who put 20% down on a $375,500 home, financed the rest with a 30-year, fixed-rate mortgage with an average interest rate of 2.95% would have a $1,258 monthly mortgage payment that included principal and interest.

Today, if a homeowner bought the house at the same price with an average rate of 5.10% they would pay $1,631 a month in principal and interest. That is $373 more each month and $134,140 more in cumulative interest payments over the life of the loan , according to numbers from Freddie Mac. According to CNN "For many people, that several hundred dollars in additional payment a month is the difference between deciding whether to buy a home or rent."

Read the full article here

Wishing all the awesome father's out there a
Happy Father's Day!

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

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