LOS ANGELES (PRWeb) — With Millions of Americans facing a foreclosure or a short sale in their very near future, many are asking the same questions (with answers):
1) Will I ever be able to get a loan again? Yes, if you follow the right steps.
2) Should I let my property go into foreclosure or do a Short Sale? Depends on your situation.
3) I heard I need to wait 4 years to get another home loan, it this true? Not Necessarily. Some programs require 2 years.
4) What will have a bigger impact on my credit score? Most of the time, a Foreclosure will have a bigger impact on your credit score. However, that will depend on each situation.
5) How can I recover my credit after this? How long will it take? If you follow the right steps, you should have a 720 Credit Score 4-5 years sooner than waiting for it to fall off your credit.
“This is all I get asked lately,” says Philip Tirone, author, speaker and activist on the credit scoring system.
If a consumer is going to have a Foreclosure or Short Sale in their future, the most important item they need to focus on is their credit score. How they handle this one action can cost them thousands of dollars in future payments on their car, credit cards, and future homes.
After the Foreclosure or Short Sale is completed, there are many things that consumers are not aware they need to do. One of which is re-establish credit from the beginning. Relying on their previous credit record will not work, even though other accounts had no late payments.
About Philip Tirone:
After closing $500 Million in residential home financing, Philip became attentive to the thousands of dollars in extra interest payments being wasted by Americans because of their credit scores. His mission is clear: educate Americans on how to increase their monthly disposable income, without changing their lifestyle, simply by understanding the credit scoring process.
Realizing the strain this lack of credit transparency has on the American financial system, Philip has made a personal commitment to educate consumers on how to navigate our credit system until our credit laws are changed and are fair to consumers.
Philip’s book, “7 Steps to a 720® Credit Score” dispels the misconceptions around our credit scoring system and guides consumers who are struggling with Bankruptcy, Foreclosure, Short Sale, Divorce, and many other experiences that impact a person’s credit score.
Philip and his programs have been featured in the LA Times, WSJ, the SF Chronicle, among others. Additionally, Philip has been a frequent guest lecturer at UCLA Anderson School of Business and Management.
Contact:
Danielle Fairlee, DSF Communications
Danielle@dsfcommunications.com
(818) 346-7110
