Questions regarding Credit Score & Real Estate

[Luis Valdez]

Hey BP nation,

How do you raise your credit score?

How do I get rid of hospital bills on my credit?

Whats the score you need to have in order to get approved for the best interest rates?

How many times does your credit score get ran while trying to buy a multifamily house?

[David Hildebrandt]

If you don't have credit karma, sign up now. You can monitor your score for free and they provide tips on how to improve it. Also check out selflender.com they set up an account where you deposit a small amount in a CD that pay interest, you make a payment, to yourself, every month that is report to all three credit bureaus, after 12 months you get your money back with interest and a great payment history.

To get rid of hospital bills, see if you can find a local person to negotiate them for you, or do it yourself. If they have gone to collections they are especially easy to renegotiate as they arent tied to a specific amount of money like if you defaulted on a loan. It might be a long call, but if you are prepared you can get those amounts reduce to 20 or 30 cents on the dollar.

The best rates are usually at 740 and above, although different banks have different criteria.

Should be run once on a purchase.