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The High Cost
of Bad Credit
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Bad credit can lead
to higher interest rates for car loans, home loans, credit cards
and home & car insurance.
From experience I estimate that my average client has spent more
than $400 a month in higher than normal interest rates due to
bad credit, collections and charge offs. That's almost $5,000
a year down the drain.
Simple steps to take control of your own credit:
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Know what is on your Credit File. |
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Set up a monthly budget. |
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Negotiate past due accounts down and
make small monthly payments. |
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NEVER be late on any payment.
Overnight your payment if you have to - but don't be late! |
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| Everyone has a story -
This is My Credit History...
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I worked at my father's
engineering company from 1986 through 1993. On January 15th, 1993 my
father was killed in a plane crash south of Conroe, Texas and my mother
asked me to simply close our company. My family's engineering company
had been in business for over 25 years and we had clients and
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My Home Purchased in 1999
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employees in
several refineries in the Baytown, Texas area. I contacted the
refinery management and notified them of our closure and
proceeded to transfer all current projects. I assisted, as best
I could, with employee relocation. I then sold off all the
assets and our small office building before beginning the
tedious and heart breaking task of investigating the accident.
The NSTB ruled that pilot error was to blame for my father's
accident which complicated matters due to the fact that an
employee was also killed in the crash. My Father's estate was in
jeopardy with a pending lawsuit so I spent the next two years
investigating the accident. Thanks to a local attorney, John
Grayson, it was discovered that the crash was not pilot error
but mechanical malfunction and my mother's retirement was
secure.
Needless to say I had no job and my own assets were dwindling
when I made the decision to go into the real estate business in
1993. Although I did well, the first 3-4 years were tough and my
credit suffered. In fact, my own home went into pre-foreclosure
and we almost lost everything. I know the pain of being on the
other end of a collection agency's phone call. Having to ask
relatives for money and the strain it can put on a marriage. It
took several years but my wife and I dug our way out of debt and
into a very nice home seven years after the death of my father.
Today I am a Real Estate Broker and own a Real Estate Company
with agents in Houston, Dallas and Austin as well as practice
mortgage origination as a Licensed Mortgage Broker. I enjoy the
Mortgage Business and especially enjoy helping folks with credit
problems buy a home.
That's my story. What's yours? Call me and lets talk about
getting you into a home. I'd love to help. Find out what steps
you need to take to get back on track and become a Home Owner.
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281 440-6383 ext. 361
Market America Mortgage Corporation
3303 FM 1960 West, Suite 300
Houston, Texas 77068
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Jack Cowen & Associates. All Rights Reserved.
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