Erasing bad credit history
Q: My credit history is very bad. I was late on my car and credit card payment more than few times. I want to buy a house but was turned down by four banks and mortgage companies. The last mortgage broker offered to erase my entire credit history and establish a new credit in 6 - 8 months. I thought you can't erase bad credit history, but he insists it is possible. The cost is $700. Should I try?
A: You should report this broker to the Department of Financial and Professional regulation, or Office of Banks and Real Estate, or whatever it is in your state that regulate mortgage brokers. He sounds like a crook. You can't erase your credit history, and it will take more than 8 months to establish new credit report.
Wed Jul 4, 2007 07:07PM by Tony | More in Credit Repair | Comments (1)
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