Listing Courtesy of KELLER WILLIAMS REALTY
You may have wondered why there are credit repair companies out there, since the credit reporting agencies have to allow any Lewes consumer to dispute incorrect line items on their own. The big Credit Reporting Agencies (“CRAs”) even have online systems for challenging erroneous information. The Agency must act speedily to investigate and correct any false information. Soooo, why pay someone else to just fill out their form?
The answer seems to be the same one that makes practitioners in the legal profession permanently in demand: it’s in the fine print. And in this case, it could be that some of that fine print is written in invisible ink.
As you can well imagine, speed is vital when a would-be Lewes mortgage applicant finds a credit score that’s lower than expected. The mortgage companies will decide whether you qualify (and how much interest to charge) based largely on that credit score. The actual details about how speedily the CRA must act are all contained in the fine print located in the FDIC’s Consumer Protection regulations, “Procedure in case of disputed accuracy” (6500, § 611). Once you notify the CRA, they have to investigate the validity of your claim and (without charging you a dime) determine within 30 days whether the item is accurate. More fine print describe further protections you have—
PARAGRAPH 2: The CRA has but 5 days to notify the company or person who provided the information about your challenge.
PARAGRAPH 6: The CRA has to provide you the results of their investigation in writing, and, if you’ve asked for it, describe the steps they took to arrive at their decision.
PARAGRAPH 7: If you didn’t know that you had the right to receive the above description, they must furnish it within 15 days after you later request it.
Those sound like pretty solid protections—vitally important, since the CRA can’t just sweep your dispute under the rug, stall, or ignore you altogether. After all, they have to detail in writing how strenuously they worked to protect you! Right?
Except for one problem, which is in PARAGRAPH 8. If the CRA simply drops the disputed item from your current report within the first 3 days, that’s officially considered an expedited dispute resolution. Since the item has been dropped, that might seem to be a solid win. But PARAGRAPH 8 says that if the CRA does that, it no longer has to do anything demanded in Paragraphs 2,6, and 7! It’s as if those protections were written in invisible ink…so that next month, if the company or person just reports the same thing, voila! your credit report might once again go back to Square One. The CRA is supposed to notify you 5 days in advance; but let’s face it, the phrase ‘Catch-22’ comes to mind…or ‘Credit Score Whack-a-Mole’…
What can you do, short of hiring repair agency experts to fix your credit score? Most commentators are in agreement: just stay away from the online dispute forms. Send a registered letter with your dispute, because it usually takes the CRA longer than three days to act on it, so they can’t skip the protections.
And while you’re waiting, why not give me a call? We can start scouting for your new Lewes home! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestate.com.
Whenever you set about planning for a move to a new home, particularly if you are an experienced homeowner, you usually don’t need to create a whole new priority list of factors you’ll be looking for.
But by the time you have capped off a full career—when retirement is definitely part of what your future holds—you’re well advised to give added weight to factors that weren’t key considerations in previous house hunts. One source of advice for Delaware residents intent on finding the best retirement property is the NAEBA—a real estate association for exclusive buyer agents. Admittedly, their list of seven “basic considerations for locating the best retirement property” includes some that are hardly limited to future retirees. Two of them (“affordability” and “security”) are prime considerations for Delaware house hunters of every stripe. But their list of factors that are especially important in retirement includes these four:
Maintenance—Realistically, even the most enthusiastic do-it-yourself putterers will eventually encounter physical limitations. Taking that into account can ultimately “be a literal lifesaver.”
Mobility—If Delaware homes featuring ground floor master bedroom suites are increasingly in demand, this is one good reason.
Convenience—Your best retirement property is likely to be one with amenities within easy walking distance. Close proximity to golf or tennis facilities, shopping, and dining will make keeping active a low-stress daily option.
Pets—Not often given a high enough priority, the emotional and physical benefits of life with the right choice of 4-footed or 2-winged friends is a factor worth considering. The best retirement property could well be one that easily accommodates them.
A youthful outlook is worth adopting throughout life—but realistic accommodation to advancing age is actually a shrewd way to maintain exactly that. If retirement will factor into the choice for your next Delaware home, give me a call. Working together, I will help you find and snag your best retirement property! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.