Credit Forum

Aldiva, Inc. is the preferred credit repair service and business development referral services partner for Gustan Cho Associates and it’s subsidiaries. GCA MORTGAGE Group endorses and refers all of our clients in need of credit repair and consultation services to Aldiva, Inc. due to their customer service business platform. Headed by owner and President Ali , Aldiva, Inc. is different from all other credit repair companies because she takes each individual client and analyze their credit report on each individual credit tradelines and evaluates on how to get it removed or sees if the creditor violated the fair reporting credit act. Ali has third party litigation attorneys in her network who acts on behalf of the consumer on a contingency basis. Besides credit restoration services Ali helps small businesses get LLCs, Corporations, and business credit. Aldiva, Inc. can prepare CPA letters for mortgage lenders for self-employeed borrowers. Aldiva, Inc. also does personal and business income taxes as well as ITIN for undocumented people so they are able to APPLY for a mortgage. Here is Aldiva, Inc. website

https://www.formmybusiness.com/

formmybusiness.com

Aldiva Inc. - Business Formation

Welcome to Aldiva Inc. where protecting your business is essential by forming a separate legal entity. Let us guide you through the process of forming a corporate entity.

Recently, I have had quite a few borrowers that did not have active tradelines. Experian Boost is great for reporting alternative trade lines, but that is only one bureau. I have had good luck recently with Stellarfi.com.

stellarfi.com

Page not found - StellarFi

Page not found - StellarFi

Are there any reputable credit repair companies anyone at GCA FORUMS can recommend? I am a licensed real estate agent in Illinois, Wisconsin, Indiana, Tennessee, and Kentucky and represent homebuyers of residential and commercial properties. However, many of my clients are in need of a credit repair consultant to rebuild, re-establish, and boost their credit scores during times of high mortgage rates and lenders requiring higher credit standards. I have spoken to Felix Nicolas and he said that Gustan Cho was working on vetting a few reputable national credit repair companies and he will be making an announcement on the GCA FORUMS sometime this week. We are in desperate need of a credit repair consultant to help hard working homebuyers and investment property investors. Thank you in advance.

The link below is for our Basic Credit Bootcamp. This is a short, very basic overview of credit. It is a great refresher and has some great tips included throughout the video. ENJOY and we hope you find something of value! If you have any questions, please feel free to reach out

http://www.thecreditcouple.net/bootcamp

thecreditcouple.net

Basic Credit Bootcamp

Basic Credit Bootcamp

Can you please tell me what a charge off account on a credit card means? I don’t have to pay this debt?

Who here has been through a credit union to get auto financing? How long had you been a member of the credit union before you got your car loan through them? I’ve heard that sometimes credit unions are easier to get a loan through and have better APR’s, so I’ve been thinking about opening an account maybe and trying that route.

Is there really a 4th reporting credit agency?

Should I close out aged credit card accounts?

I had credit scores of 480 on 1/07. I have paid all my collections and have not missed any payments or house payment since 1/07. My score is now 580 and 633. What else can i do, like removing lates for my credit history?

My credit score is high at 705, but my DTI ratio is rather high at 57% how can I get myself a low interest home loan for a first time homebuyer? Any advice would be greatly appreciated.

My associate at GCA Mortgage Group, Wendy Lahn, recommended this  DIY credit repair program. I need to handle some issues with my Discover Credit Card, and I signed up for this DIY credit repair service. I will keep you posted. I will be disputing fraudulent credit card charges. I trust Wendy Lahn’s recommendations and am confident I will benefit greatly.

• This discussion was modified 1 year, 6 months ago by  Gustan Cho. Reason: Updates

How Long Does a Repossession Stay On Your Credit Report?

Many potential home buyers would like to know. They have a car repo and have concerns about getting approved for a mortgage.

• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.

Should You Cancel Credit Cards Before Applying for a Mortgage?  Is this a good idea? OR, is it better to just pay them down?

Many borrowers are faced with resolving Cairvrs fails in the mortgage process. As of July 2022 the Department of Education restructured the way derogatory debt is handled. Most borrowers had their Caivrs “lifted” and were able to move forward. For those in serious default, they should reach out to the Department of Education and request a payment plan that will go into effect after the forbearance is ended. The representative will request information and may require a fax confirmation of the agreement. Once received and processed, the account will no longer be in default.

This is a marked change from the 9 month rehab programs that were previously required. I assume there will be additional changes as Covid remediation winds down, so borrowers should take advantage of relaxed guidelines now.

• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.

Building credit is an important part of improving your credit. Far too often the borrower does not have sufficient credit to establish history or allow for score growth. It may feel counterintuitive, but having well managed debt can be to your benefit. Prudent credit use shows that you can manage your finances well. Here are some examples of easy to obtain credit building tools –

Credit Builder Card

Self Credit Builder: Build Credit. Build Savings. Build Dreams.

CreditStrong: Get a Credit Builder Loan that Builds Credit and Savings

Experian Boost – Improve Your Credit Scores Instantly for Free

• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.

Who Reports Bankruptcies to the Credit Bureaus?  How and why do bankruptcies show up on the credit report? Why is it that sometimes they do not show up?

Many people use Credit Karma to check their credit scores. However, when they begin working with a lender, they find out their scores are lower.

Is Credit Karma accurate?

• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.

Which of the Following Statements are True About Credit Scores?

A. Your credit scores tell creditors whether you are more or less of a risk

B. When applying for a mortgage, credit scores have a huge impact on what your interest rate will be

C. It is possible to improve your credit without paying for credit repair.

D. All of the above

• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.
• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.
• This discussion was modified 1 year, 11 months ago by  Eric Jeanette.

Here is my story about my experience with Discover and the disputes I have been going through. Advise our viewers on this type of case situation if any of you run into it. Very time-consuming, stressful, and a total waste of time for me and my staff. I will start with the scenario of what has transpired from day one:

I am Gustan Cho Associates’s branch manager, a dba of NEXA Mortgage, LLC. We are a national mortgage lender licensed in 48 states, including Washington, DC, Puerto Rico, and the United States Virgin Islands. I am the manager of operations, support staff, and loan origination for the Oakbrook Terrace, Illinois, Branch NMLS 2315275 located at 17W662 Butterfield Road, Suite 305, Oakbrook Terrace, Illinois. The Oakbrook Terrace, Illinois, Branch is licensed in 48 states, including DC, Puerto Rico, and the Virgin Islands. We are the largest producing branch at NEXA Mortgage in production and have a lot of monthly expenses. I have two different types of credit cards to pay my monthly debts. Under no circumstances do I ever use my personal credit card for business related expenses. I mainly use my Discover credit card for my personal expenses. My personal expenses include anything that is not business related that cannot be written off from my income taxes. If you can review my Discover card statements for the past three years, you can see that only personal expenses such as fuel, groceries, shopping dog food and other merchandise for personal use from AMAZON, personal homeowners insurance. Now Discover is saying that I am responsible for payment even though it was not authorized for concurring charges on my Discover. Anyone had things like this happen? I will update you on the progress.

NEXA Mortgage issues us a corporate credit card from US Bank to pay all our branch expenses about the business. We are only allowed to charge business expenses. Any business expenses is charged to US Bank corporate business credit card. Business expenses includes rent, advertising expenses such as (YLOPO, RAVEN, ZILLOW, GOOGLE LEADS) expenses for leads, marketing, printing, co-marketing expenses with realtor partners, business lunches, travel, licensing, training and education, and any other direct and/or third-party business-related expenses. I have always use any business-related expenses on my corporate US Bank Visa card for business expenses and never my personal credit cards.

What credit score model do mortgage lenders use? Is VantageScore so much higher than FICO? Do Mortgage Lenders Check FICO or Vantage? For the majority of lending decisions do most lenders use your FICO score? And which type of FICO score? FICO 2, 4, 8?

How far off is VantageScore from FICO? What FICO or Vantage Score Model does FHA, VA, USDA, FANNIE MAE, FREDDIE MAC, and Non-QM mortgage loans use? What is a good FICO score to get a mortgage?

• This discussion was modified 4 months ago by  Gustan Cho.

HOW TO DEAL WITH CHARGE OFFS ON YOUR CREDIT REPORT?

How Long Does Bad Credit Stay On Credit Report?

How do I get a mortgage with a recent charge off?

How To Raise Credit Score To Qualify For Mortgage?

How long do derogatories stay on your credit report? Can you please break down how long the following types of credit stays on your credit report: Late Payments, Credit Inquiries, Collection Accounts, Charge-Off Accounts, Judgments, Tax-Liens, Repossessions, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Chapter 11 Bankruptcy, Judgment, Short-Sale, Deed-in-Lieu of Foreclosure, Child Support, Alimony, Unpaid Parking and Traffic Tickets, Medical Collections.

If yes, then how i can get mortgage without credit score

Do landlords run check checks?

Do employers do credit checks?

Does Free Online Credit Report Check is Reliable?

What is credit supplement for? When does a mortgage client need to do a credit supplement during the mortgage loan process?

Which credit scores do mortgage lenders use? Do mortgage lenders use Experian, Transunion, or Equifax? What is the credit score used in mortgage applications. Do lenders look at both spouses’ credit scores? If you and your partner decide on a joint mortgage, both of your credit scores will come into play. What FICO scores is needed to buy a house?

• This discussion was modified 5 months, 1 week ago by  Sapna Sharma.

Where do I check my credit scores for free to see if i qualify for a house. How do i check my credit score to buy a house. What is the minimum credit score to buy a house.