Credit Problems?

In today's fast paced world, it is very easy to get overwhelmed emotionally as well as financially. Credit is offered with reckless abandon. Corporate mergers, factory layoffs, and plant closings make job stability very difficult. The rising cost of healthcare makes the average trip to the doctor a large unexpected expense.

At MLI Capital, we understand that bad things happen to good people. We know that there will be a time in each of our lives where we will be challenged financially. Unless you have savings or other assets, you will be faced with difficulty making credit payments. This is exactly why we offer programs for those who have had or are currently having credit problems.

With a good equity position, we can help most homeowners who encounter credit problems.

We have approved loans to homeowners and helped them recover from:
- Foreclosure
- Current or Past Bankruptcy
- Collections or Judgments
- Auto Repossessions
- Late Mortgage Payments
- Late Installment Payments
- Charged-off Accounts
- Tax Liens

HELPFUL HINTS

What can you do to increase your chances of approval
- even with credit problems?

You can...

-Write a letter to explain how or why the situation occurred. Most companies will want a written explanation for any slow credit or adverse credit items listed on the credit report.

-Request a copy of your credit report. This will help you understand what the underwriter sees when assessing your credit application. It will also help you write a more detailed credit explanation letter.

-Payoff any outstanding delinquent debt. If possible, it is always better to pay collections and judgments as soon as possible. These items do not disappear on their own. In fact, they remain on your credit report years after they were satisfied. Please note: Just because you paid the account in full does not mean your credit report reflects this information. Often times you must take written proof to the local credit bureau in order to remove incorrect information.

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