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Jillian La Rocque

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Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

The basics are (1) Pay all bills on time (2) Try to keep your total credit card balances less than 50% of total debt (3) Pay down balances on credit cards (4) Don't apply for more credit (5) never co-sign for anyone (6) Review credit reports for inaccurate information. Might want to ask a loan officer for help in case there are questions. Go to www.annualcreditreport.com to get free copy of credit report. She needs to know where she stands before she will know what actions to take. She could also consider talking to a HUD approved housing/credit counselor.If she doesn't already have credit cards, she can start with an unsecured card. She'll just have to make a deposit in a savings account of usually $200.00 - $500.00.

Feb 25, 2016 04:51 AM
Rainmaker
556,790
DEANNA C. SMITH CERTIFIED MOBILE NOTARY
Certified Mobile Notary Signing Agent - Smith Mountain Lake, VA
Highest Ranked Certified Mobile Notary in Virginia

First, pay any bills she has ON TIME.   This is MOST important.   If she has no credit cards and no established credit, she can apply for a secured credit card. It may be at a higher interest rate but if she pays it down to around $10 to $25 each month, within 3 to 6 months she will have established a payment history.   Keep a small balance rolling over each month instead of paying it to zero so there is a continuing balance.   Also, have her contact a local, licensed mortgage lender for specific ideas to prepare for her loan.

Feb 25, 2016 11:26 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

 parked and reading

Feb 25, 2016 09:57 PM
Rainmaker
1,661,936
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I'm a day late to your question but looks like you have great answers from others.

Feb 25, 2016 09:04 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Talk to a lender.

Feb 25, 2016 08:57 PM
Rainmaker
1,197,152
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Talk to a loan officer.

Feb 25, 2016 07:30 PM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Contact a reliable lender in her area for advice.  

Feb 25, 2016 04:54 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

If she does not have credit cards she needs to get one or several, make charges and ALWAYS pay them off on time. Never miss a payment. Department store and gas station cards can be easier to get than major credit cards if someone doesn't have any credit history.

Feb 25, 2016 04:27 PM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Create your payment schedule and pay on time. There are a lot of great blog posts here in the Rain or on utube. 

Feb 25, 2016 04:17 PM
Ambassador
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Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Jillian, a good loan officer can help her to figure it all out and make a plan.

Feb 25, 2016 02:58 PM
Rainmaker
864,658
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Pay her credits on time. Pay down her balance. Don't open any new credit accounts. If there are discreptancies on the credit report, start disputing it right away.

Feb 25, 2016 10:50 AM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Talk to a lender 

Feb 25, 2016 09:26 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I like and agree with Kathleen Daniels' answer....

Feb 25, 2016 09:05 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

CreditKarma.com will keep an eye on her credit every month to see what is going on. Obviously, she'll have to work on fixing it but they will send you a report every month.

I had my credit stolen this last year & instead of me going to get it, they sent it to me so it seemed easier.

She might have to start with a secured credit card.

Feb 25, 2016 08:51 AM
Rainer
80,653
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

Jillian La Rocque she or her husband if she is married, will need to have a job in the same profession for 2 years.  Find a local lender that will work with her.  If she just moved here, from the Virgin Islands, it may take a couple years to qualify, but a good lender should be the first place to start.

Feb 25, 2016 08:25 AM
Rainer
417,221
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

1. opt out (federal program 2. save 3. pay everyone on time 4. stop buying clothing, luxuries, candy, jewelry and junk 5. reduce credit cards to less than 68% of balance 6. do not close any accounts

Feb 25, 2016 06:00 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Have her work with a great lender who will mentor her in the process and be there for her when she is ready to buy. Check the AR roster for lenders in her area and get them connected.

Feb 25, 2016 05:51 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Have her speak with your trusted mortgage specialist to help her keep her eye on the target.

Feb 25, 2016 05:37 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Pay all her bills on time and pay down her credit card debt.

Feb 25, 2016 05:11 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I hope she was able to get her rating up and purchased a home.

May 27, 2019 09:17 PM