For many Americans, the most intimidating purchase they’ll perform is on a house. Equally intimidating is the negative impact it may have on their credit. The prize of a completed mortgage is financial relief, but damaged credit is a pit of worry.
Here in Charlotte, NC there are many road signs that advertise credit repair. The plan typically involves erasing an individual’s credit history, which does more harm than good. But for those with a mortgage issue or otherwise, there’s another way.
Mt 5:25-26 shares a principle that we think also speaks to foreclosure: settlement. If you’re on the path to foreclosure, there might still be time to either keep the house and/or save your credit (which is the focus here).
Yes, your credit may be limping, but it’s alive. And it’s important to know that skilled underwriters can see that you’ve erased your credit history, which helps you lose face with a lender. That’s not the answer. Truth is, unless you have hundreds of thousands of dollars stashed away, credit is a strong option for house buying. In situations like foreclosure, credit may matter for where you’ll live next.
How to save your credit from the jaws of foreclosure
There are groups of people and businesses that can enter your situation and help you avoid the sentence of imprisonment your credit may suffer otherwise. I’m not saying all parties are legitimate. What I am saying is that not discerning between them and turning away from help is a sure way to welcome death on your finances.
You get their postcards and letters, see their signs throughout town and advertisements online. They do exist and are a real way to help protect and help to build it up again. It takes time to repair credit and you still need to honor God and the lender and pay what’s owed. It’s the right thing to do and sets you up to be a blessing to the next occupant of that house, even if it’s you!
Be honest and forthcoming with that buyer/wholesaler. Your situation is already public concerning the house. The Mecklenburg Times releases that information for Charlotte, NC and the surrounding areas.
Invite Jesus into your situation. Human effort may be the reason for the situation. We need God to be our strength, wisdom and source of life. So repair that credit, talk with those who extend themselves to help and most of all pray. Pray that God will reveal His plan for the situation. The best is yet to come for you and were thanking God for it.
Here at ReliefWire, we’d love to assist you and always look forward to being part of the relief that God desires for you to enjoy. It’s time to move and look forward.
ReliefWire Financial Solutions nor its authors are providing specific legal or financial advice to any reader in this post. The information herein is generic and is meant to be educational. If necessary, seek legal counsel regarding your specific situation. And always, pray and trust God in your decision-making.