Foreclosures and Credit Report Repair

You may be able to avoid foreclosure by improving your credit and lowering your interest rates.

Many subprime lenders have provided homeowners with complex non-traditional mortgage agreements that allowed them to get into homes that were otherwise too expensive. These mortgage agreements typically have low payments during the first few years that increase--sometimes dramatically--after the introductory period. The homeowner is then faced with a monthly payment that is often higher than they can afford. After months of late payments, missed payments, and increasing penalties, the lender often times begins the process of foreclosure.

Don't become a victim of your variable interest rate

If you are stuck with a non-traditional mortgage loan as a result of predatory lending practices, you may be able to refinance your loan and lock in a new lower interest rate. This may help you avoid skyrocketing monthly mortgage payments, and it could be the key to avoiding foreclosure altogether.

Take the first step by repairing your credit reports

Improving your credit score may help you secure a fixed-rate mortgage. The reason you had to get a variable rate mortgage in the first place was likely because the interest rates on a fixed rate mortgage were much higher. With an improved credit score you may be able to get into a new fixed rate mortgage loan with a reasonable interest rate.

Lexington Law's credit report repair services are the first step in improving your credit score and lowering your mortgage interest rates. Lexington Law has helped thousands of clients remove questionable negative items from the credit reports by working with the credit bureaus and directly with our clients individual creditors.