Are you trying to buy or sell property but there is an issue with someone's credit and the credit issue is not your fault? We may be able to help. If you are a realtor or mortgage broker, give us a call to speak broadly or have your client call us directly so we may fully discuss the legal issues.
Let’s begin by:
I am one of the few credit reporting attorneys in the state.
We represent clients across the state. We can meet clients in one of our offices, have virtual meetings or arrange meeting the client other locations if needed. The location of your client is not an issue.
Here's the thing we all know about real estate deals, they come and they go. A good property that's available today should not be available tomorrow. The reason why, is that good things don't stay on the market longer than they should. If you live in a city or a state where the market is tight, there should be no free lunches or properties is staying there longer than they should.
So, if you are a realtor and you are selling a house, in this market you should be able to find new buyer if your bar falls off. However if you represent someone who's looking to buy a house but their credit is messed up, then you're not going to get a deal. And the fact that most Realtors and mortgage companies would do with someone who has bad credit, is to move on to a new client.
And that makes sense to some degree, but the real issue is that you were losing a deal that you should have had. So I'm not saying that you should not move on with new clients, but I'm saying is you should put in a system and have a method to make sure that the clients that have Arizona credit or actually getting them fixed overtime so they can come back into your final.
And that's the part of business that everyone needs to understand here is that bad credit today concerned to good credit tomorrow. This is especially the case when the bad credit is actually calls by someone's credit report errors. So if there is an error going on on the credit report if your client take the right steps, then those errors will come off and their credit will improve. And wants are Curtis and prove that puts them back into the fold for you to get the loan or to get them into the house that they want.
And that means you get your real estate commission or your brokerage fees get paid. That's why you must understand the Fair Credit Reporting Act or known attorney, like me, because if you do you will understand it is just as simple as keeping proof of everything you do while you dispute an accurate information to the credit bureaus. You always make sure that you keep proof that you sent it and get the little green card the shows that they received the dispute.
After a short period of time, generally, around 30 days, the error will be fixed. However, there is no fixed that means that your client will still have the bad information on the credit report it will have the ability to force the credit bureaus to remove the negative information and to pay them damages.
Once this occurs, then your client is ready for you to complete the transaction. Now you know why the credit reporting laws can be so valuable to you in the industry. So don't let clients who claimed that the errors that you see on their credit report were wrong go to waste. Get them following up with the errors by disputing them properly and by sending them to an attorney to help them. If you have any questions contact my office, because we love to help.