Tuesday, October 20, 2015

Scary Question #4 “What if my credit score isn’t good enough for a mortgage?”

It’s October and I’m talking about the scary stories and scary questions we ask ourselves……

Scary Question #4  “What if my credit score isn’t good enough for a mortgage?”

This is one of the biggest questions that everyone is afraid to ask.  I know this because I don’t get this question BUT the people who refer their friends over to me get this question.  Thankfully…. They know that Sheri is somewhat the expert when it comes to damaged credit so I'm able to answer this question even if I'm not the one that gets the question to begin with and I'm thrilled to be able to help! 

This question seems to come with a little bit (or A LOT!) of shame and guilt attached to it and I’m guessing that’s why I don’t get this question very much.  We’re all afraid to say…. “Hey!  I screwed up once or twice and my credit might reflect that.”  First of all, your credit does NOT reflect the person you are so let’s just stop attaching our self worth to our credit score.  Phew…. That’s the biggest, hardest hurdle to overcome.  Next, let’s just look at what’s going on and THEN we can fix it…. Yep!!!  I said we can fix it!!!  But we have to KNOW what’s up before we can head on down the fix it up road.  
Now, I’m going to get very vulnerable here and give you a peek into my past that I was so ashamed of until I realized that the shame and guilt were actually keeping me from what I really wanted.  The shame and guilt kept me small and I was so afraid to ask for help.  I never wanted anyone to think less of me because of my (scary music inserted here) DAMAGED CREDIT.  For over 20 years I had perfect credit.  I had never missed a payment on my car, on my credit cards or my mortgages….. my rental or my primary residence….. and then it happened.  I separated from my was-band (that’s a nice way to say he “was” my husband) and I didn’t have the money for the mortgage.  I remember watching the day approach on the calendar with horror and anxiety.  It was 2009, the mortgage industry had crashed and I had been laid off midway through 2008.  I was desperately trying to find work that could pay my bills and feed my kiddos.  I was also going through the greatest emotional battle, divorce, that I had ever faced in my life.  As I watched the first of the month approach on my calendar, I was mentally, emotionally and physically sick, knowing I would not be able to make my mortgage payments.  The day came and I huddled by myself, too ashamed to tell anyone what was going on.  As the month progressed I knew that by the 30 day past due mark, my perfect credit was about to have a big, huge, fat, RED, bad mark on it….. or at least that was the scary story I was telling myself and I truly made myself sick for quite a while over this.  I was so ashamed.  Fast forward to 2015, I eventually had to file Bankruptcy because of the outstanding balance on the mortgage from the short sale as well as several other creditors that were not paid off by the agreements made in the divorce decree.  So what did I learn from all of this.  Life happens…. Sometimes we get knocked down….but it's the fact that we CHOOSE to get back up when it does knock us down.  I chose to get back up!
So when an unfortunate circumstance happens in our life and our credit takes a hit because of it, it could be a little blip on the credit radar or it could be a BIG blip on the credit radar but regardless of what it is, it can be fixed.  I have been able to climb out of that self created hole of shame and with small, easy steps I have been able to build my credit back to a respectable level.  In this journey back to emotional, mental, physical and CREDIT health I have learned so much and feel so blessed to be able to compassionately have a conversation with anyone that may be traveling the credit-shame highway.  Knowing how to rebuild your credit is an amazing tool to have in your personal tool belt, not only for yourself but also to be able to teach your children as they head off to college.  Let’s face it, we learn more about igneous rocks and stratospheric clouds in school then we do about how we can take charge of our credit score.  If.... uh-hum.... when you are ready to add this tool to your tool belt, I would be honored by your trust and would love to share the mysteries behind your credit score.  Call or text me, let’s start you on your road to credit health!  - Sheri Joi   text/cell number 503-380-1156  email sherijoi1972 at gmail dot com   

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