This account was charged off. Why is it still on my credit report? A charge off is an accounting concept. It means the creditor is no longer counting the account as an asset. However, this account is still owed by you and will remain on your credit report for at least 7 years from the date of last activity often you can negotiate a reduced payoff for a charged off account. Depending on the creditor, this could be anywhere from 10% to 60% of the balance. Further, a few creditors may change how this account is reported in order to get payment. Removing the account completely from your credit report would be the best choice. Changing reporting to paid as agreed and not changing the date of last activity is a pretty good choice as well. Do not disclose that you may be refinancing or purchasing a home because you lose leverage. Get any agreements in writing and agreed to by original creditor and any collection agency.

Curb appeal, curb appeal, curb appeal!! This is one item that you can help to improve on your home that can be the difference between successfully selling your home and having it sit on the market for a long time. During this period of time and trying to sell real estate there are many, many homes for sale in just about every neighborhood. Therefore, the buyers have many choices presented to them. You need to try to make sure your home stands out ahead of the others and the way to do it is with curb appeal. You can either hire a landscaper to come in and edge your beds, trim your bushes and shrubs, throw a fresh layer of mulch over all of your beds, plant some inexpensive but nice looking flowers, plants and shrubs, fertilize your lawn (weed and feed), water your lawn, keep your grass cut at a nice level, and take care of any eyesores you may have in your lawn anywhere or you can simply do this all yourself if money is tight or you lack the time or knowledge of how to do all of this. Also, you will want to clean up everything outside and put it into your shed, throw some stuff away or place items into your garage to give your yard a nice overall appearance without any clutter. Fix up any cosmetic things that need to be fixed on the exterior of your home, such as siding, trim-work, flashing, etc if the home needs to be re-painted or power-washed make sure you do this. If you don’t have money to pay a professional painter to come out and do it then you should consider having a house painting party. Invite 10-15 friends and family over to help you paint the exterior of your home and supply some food and beverages for them in return. This is a much cheaper way to get the job done and you can have some fun with it too.

If you need a loan with a low fico credit score FHA will look more at your credit profile then your credit score. If your score is low due to past due bills that are current and you have paid on time for the last 12 months then FHA is a great choice, however if your fico score is low because you were just irresponsible and did not pay your bills then FHA will not be a good choice for you.

If you have bad credit but still want to buy a house, you have options that can range from getting a co-signor to repairing your credit. You now have more choices than were formerly available to people with financial problems.

Many people choose to use the cash taken out of their equity for home improvement projects that will enhance the value of their home and protect appreciation. Additional rooms, garages, decks, pools, and guest houses are popular choices for the home owner who wants to use equity for home improvement.