A leading cause of stress for many borrowers comes from knowing that a tri-merge credit report must be pulled and reviewed in order to determine credit worthiness.

"Overcoming Credit Issues"

Let's face it: Sometimes life happens and our credit scores take a hit. Although credit/FICO scores are an important part of the loan approval process, you might be pleasantly surprised to learn that past credit issues don't necessarily mean that your mortgage application will be denied.

Take a look at the table below. You may be eligible to buy a home in as little as one year after a bankruptcy! This, of course, assumes that you have paid your existing bills on time and are still compliant with the payment plan you entered into with the court.

Maybe your credit is less-than-perfect but you didn't experience any of the events listed above.

There's still hope! Paying off old debt and getting errors removed from your credit report can boost your scores over 100 points. It usually doesn't cost much to settle-up old debts with collections agencies and the benefits to your credit score are huge!