True Client Success Story: How One Veteran’s Credit Score Went Up 70 Points

We all struggle financially from time to time. If you are an individual who feels like they are stuck under a mountain of financial problems, you are not alone! From personal experience, Ascent Network has helped and witnessed many people turn their lives around. We have seen people in deep financial holes with no hope, and we have been able to help them see the light at the end of the tunnel once again.

Here is just one of the many stories of an individual that we helped.
A disabled veteran from Cathedral City, CA came to us because he had just been denied an FHA loan. He had wanted to take advantage of the lower home payments and good interest rates that were being offered. Unfortunately, he was told his credit score was too low.

Thankfully this veteran came to us for credit restoration. We ended up finding 5-6 accounts reporting on his credit score when they should have been removed seven years ago! All this time these accounts were negatively impacting his credit score. We also found that two accounts were not actually his, but were his ex-wife’s. These two accounts were also making his credit score lower than it should have been.

It took our company 5 ½ months to contact the three major credit bureaus and have them fix the problems. The change in his credit score was amazing. It went up over 70 points! With this change to his credit score, he was finally approved for an FHA loan of $168,000.

Tackling the credit bureaus alone is rough. All bureaus will tell you that past addresses or work history do not affect your credit score. In the above success story, we found that to be far from the truth. We found three addresses that should not have been on the veteran’s credit report. Once they were removed, amazingly, his score went up 8 points!

At Ascent Network, we strive for the success stories, not because it makes us look good, but because it helps restore people’s lives and helps them find financial freedom. Call us now for a free consultation (949) 491-0777

What is an Obama Loan and How Do I Qualify?

You may have caught a little snippet of the most recent news to hit the financial world- the loan referred to as the Obama loan. If you have questions about what this loan is and if it is right for you, then you are reading the right blog. We have the answers for you! 

The Obama loan is a refinance program under the Home Affordability Refinance Act. This allows people who are financially struggling to refinance their home under the following conditions:

• They have good credit
• They have made their payments on time
• They are upside down on their mortgage or in an adjustable
   interest rate or their interest rates are too high

The point of the program is not to rely on government assistance, yet instead to benefit from having a home with a lower interest rate. Lower interest rates mean lower payments, and it can be just the thing for many individuals to get back on their feet again.

However, the most common misconception about the Obama loan, also known as HARP 2.0, is that individuals can qualify for this loan, when they are behind on payments. Unfortunately that is not the case. Good credit and a good standing with the mortgage company is required. So what is an individual to do when they are behind on their mortgage and don’t have the best credit?

This is where Ascent Network comes in. We are here for those who have fallen behind financially but still have a fighting spirit in them. We utilize another government program called HAMP, known as the Home Affordability Modification Program. This program has been in place since 2009 and was started under the Obama administration.
 
Ascent Network is a non-profit organization that can help individuals utilize HAMP to turn their lives around for the better. Visit our Web-SIte http://www.theascentnetwork.org or give us a call (949) 491-0777