How did I get a negative credit history? What to pay attention to. By Cliffco Mortgage, Long Island

Cliffco Mortgage Bankers, Long Island - Phone: 516-408-7300

Your credit report can be negatively impacted by a number of factors, preventing you from getting approved for a home loan or a car loan.

Several things can hurt you and establish a negative credit history. The most common is a delinquent account such as late payments, debt collections, charge offs, repossessions, foreclosures and/or bankruptcies.

One of the easiest collections you can get, unfortunately, is a medical collection. Medical collections are sometimes co-pays that are missed and the doctor will put the person into collections after a certain amount of time.

On a positive note, these collections are also known to be the easier ones to get removed off of your report to re-establish yourself into a better situation.

Additional comments:

Ultimately, the creditworthiness of a person for a mortgage loan is determined by a multiplicity of factors. It is relatively rare that all aspects of a credit profile are picture perfect. Our loan officers are here to advise you as to the best strategy to prepare your application for a mortgage loan. This is a personal conversation you have to have with your loan officer. When you work with Cliffco Mortgage Bankers, you work one-on-one with a loan officer -- not some faceless person shielded behind a 1-800 number who will never have any relationship with you -- like in big banks. Cliffco Mortgage bankers is a fully delegated mortgage banking institution. That means we originate and fund 100% of our loans. We will never pass your loan off to a third party (contrary to most big banks), and all credit decisions and underwriting are done in-house by our highly-educated loan professionals.

Contact Cliffco Mortgage Bankers to prepare your mortgage loan application the right way for success: 516-408-7300

Cliffco Mortgage Bankers is fully licensed in New York, New Jersey, Pennsylvania, Connecticut, Florida, and Texas. Our home office is in Uniondale, Long Island, NY. We cover all towns and hamlets of Long Island, as well other neighborhoods in NYC

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