“If you can’t do the time, don’t do the crime.”
That bit of wisdom is usually offered to the bad guys on television cop shows. But it also applies to rookie home buyers as well. If you don’t want to wait months or even years to get into your first house, then don’t just keep your nose clean, keep your credit clean, too.
While bogus credit score improvement offers and credit repair firms would like you to believe that fixing up a history full of late and missed payments is a slam-dunk cinch, they are just that, bogus.
“Truth is, rebuilding a credit rating and improving credit scores requires both time and patience,” says Paul Richard, the executive director of the Institute of Consumer Financial Education, a San Diego nonprofit.
The ICFE helps consumers improve spending habits, increase savings accumulation and use credit more wisely, in addition to advocating the do-it-yourself approach to fixing credit file mistakes and increasing credit scores.