If you've ever spent time doing credit score repair, you may have found it to be a tedious -- even
exhausting -- task. Perhaps you even found it hard to stay motivated. But if you could be paid for your
time, you wouldn't mind it so much, would you?
The key to self-motivation is realizing that credit score repair, in the end, is money in the bank.
You're actually being paid for your time, and at a rather lucrative rate at that. In fact, it
may be the highest paying job you'll ever have.
Take this example...
If you boost your credit score to 725, you should be able to finance your home at a rate that's at
least 2-3% lower than what you're paying with a sub-prime score of, say, 525. This could easily save you
$100,000 on a 30-year loan.
Now, divide that $100,000 savings by 40 hours of credit repair work. You actually made $2,500 per hour for your credit repair efforts! And 40 hours of credit rescoring work is probably a high
estimate. It doesn't usually take this long to rehabilitate a credit file.
Convinced yet?
Okay, consider this...
Let's say you finance a $100,000 mortgage over 15 years. Here's an estimate of how much interest you'd
pay over the life of the loan, based on your credit score.
Excellent: 5.50% $47,075 Interest
Fair: 8.25% $74,625 Interest
Risky: 9.50% $87,960 Interest
An Excellent rating ensures that you can access massive amounts of cash, potentially even
interest-free. Whether you're an entrepreneur building a business or a consumer building a house, access
to cash is crucial to your financial health.
If you're considered a credit risk, you'll pay far more interest. If you need to borrow money -- or
even think you might need to borrow money -- a good FICO score will reward you with extra cash
in your pocket, month after month, year after year.
Repairing your credit score will not only save you thousands of dollars, it will empower you, give you
peace of mind, and plant you firmly on the path to financial freedom. Invest a little effort to become
the person every choice lender wants to loan money to.
