The slumping housing market has been financially devastating for some and beneficial to others.
Threats of foreclosure and underwater mortgages have forced many homeowners to sell their properties for prices far less than their original amounts. However, as a result, individuals who are in the market for a new home are finding they are able to get more value for their dollar.
With housing prices continuing to fall, many prospective home buyers are eager to secure financing and purchase a home before values begin to rise. But a number of Americans have been unable to receive a loan because they have bad credit.
Despite having enough money for a down payment, poor credit scores remain a major hurdle inhibiting individuals applying for financing. To overcome this obstacle, some Americans are turning to quick credit fix strategies, such as credit repair.
Although many consumers may be aware that they can challenge credit companies for reporting information that is false or inaccurate, some individuals may not know that they can also challenge companies that don't follow proper credit reporting guidelines. This means that consumers who have a negative mark on their report that is hurting their scores may be able to remove it if they can prove the item is not in compliance with federal mandates. Because this process can sometimes be tricky for consumers to handle on their own, some may contact a credit lawyer for help.