The Wrights were a young couple with the dream of purchasing and building a new Fischer home, but faced significant barriers to their homeownership dream.
They suffered from debt in collections, inadequate credit scores, and liens in excess of $7,000.
In February of 2014, Jessica and Richard attended a personal coaching session with Financial Services. Both Jessica and Richard were eager to rectify the negative marks on their credit, and were diligent in establishing a reasonable budget.
One of the first items the couple addressed was to establish two traditional lines of credit as shown on a credit report with on-time payments for 12 months. Soon after establishing credit, their credit repair was in progress and the Wright’s scores began to rapidly increase. With consistent on time payments, proper use of revolving lines of credit (credit cards), budgeting and saving to resolve the tax liens, Richard improved his score by 122 points within 11 months. Meanwhile, Jessica maintained and increased her score, but in spite of their rise in scores the Wrights were still not mortgage ready.
In late spring 2014, during a one-on one-consultation with their financial coach, the couple expressed their disappointment. The Wrights were reminded of the goals they achieved in the past. They realized that this plan was working which encouraged them to continue on with their action plan. They continued saving for a down payment, and subsequently progressed. In late summer, their hard work paid off and they entered into a contract with Fischer homes, and construction of their home began!
Due to an unforeseen situation with deferred student loans, Jessica’s score plummeted. They were excitedly watching the construction of their home and with Jessica’s score decrease they were devastated. Devastation turned into even greater determination. Jessica and Richard went back to their financial coach to create a new action plan. Once again, Jessica’s score rose and in early January the couple received a conditional approval for financing on their home. On January 16th, 2015 the Wright’s became homeowners! To date, the Wrights are enjoying their new home and are so appreciative of their new found knowledge of credit and the opportunities that good credit offers.« See All Stories