In January of 2021, Rick was sent a notice from his landlord that he had less than 60 days to move out because they wanted to sell the property he was renting. Rick had fallen victim to a debt consolidation scam in which he had been paying $550 each month for them to fix his credit. He started with an 802 credit score & after they told him not to pay his credit cards so they could “fix” it for him- his fico scores sank to 598 & he was at a loss as to what he could do about it.
Desperate to figure out what alternatives he had- he contacted Keith from Elevation Home Loans, who pitched Credit Innovation Group and mentioned that CIG could help with his predicament.
Todd from CIG’s HomeReady desk contacted Rick. They discussed the challenges Rick was facing since his sign-up with the consolidation company and the time constraints of needing to move in a short amount of time. Todd took great care to explain how CIG was different from a consolidation company & Rick decided that he was going to give it a try.
Todd introduced Rick to his specialist Angeline who went over his positive lines of credit, of which there were many in good standing. Then they discussed the few items that were holding him back and started the investigation/disputing process. Rick already had a mortgage through the VA but he did not want to move back to his first home. He wanted to stay where he was in Washington State. So, Angeline built him a custom map that included disputing the incorrect and unverifiable information and adding rent reporting through CRBC.
Rick made sure to keep his positive credit lines in good standing and CIG was able to correct some of the negative items as well as report his rent through CRBC. By May, Rick’s TransUnion Vantage score was over 680 & he was on his way to the HomeReady desk. Once he filled out the HomeReady form, his TransUnion Vantage score was sitting at 780, he passed the audit & Julie warm transferred Rick back to Elevation Home Loans to continue his journey towards purchasing a 2nd home.