Real Estate Lessons from Lisa Orme, Realtor®: Getting Ready to Buy a Home: 5 Best First Steps Series--Part 1

Getting Ready to Buy a Home: 5 Best First Steps Series--Part 1

Thinking about buying a home now--or in the next two years?  A new home!

Your best first step:  Check your credit NOW!


1.  If there are any negative credit lines on your credit report you need to know about them.

2.  Once you know about derogatory credit items, you need to assess whether there are any items that will improve your credit profile if some action is taken on them.

3.  There may be items that are incorrectly reported. These may be items that aren't yours. Or they may be duplicate items. Or perhaps a collection account was sold (maybe even more than once) and it appears as the original account, and appears again under the name of the entity that purchased your account.  Credit Score

4.  Collection accounts and charge offs can be paid off or settled which will improve their reporting status and your credit score. You may want to get the advice of an expert in deciding which accounts will impact your score the most in order to improve it.

5.  Some items may be disputable.  If you submit a written request for evidence of the original debt and it cannot be provided within the time frame required by the Fair Credit Reporting Act, the credit bureau is required to remove the derogatory information from your report.

6.  Your credit score determines not only whether you can get a mortgage or not, but what rate, terms and programs are available to you.

7.  The best time to find out about a "problem" on your credit is BEFORE you start looking for a home.  No one wants to get derailed or delayed after they've fallen in love with a home. 

Credit issues are by far the biggest cause of buyers' failed purchases. Check your credit NOW to set yourself up for success.  This is your absolute best First Step to a successful home purchase. 

Coming Soon:  More "Best First Steps" to Getting Ready to Buy a Home




Serving the North Central Connecticut region, Hartford County, and the communities of Windsor, Bloomfield, Hartford, East Hartford, South Windsor, Manchester, Windsor Locks, Suffield, Enfield, East Windsor, Somers and the Granbys...

Opening Doors to Home Ownership . . . The Master's Key . . .

Residential Sales, Short Sales and Foreclosure Prevention, Multi-Family and Investment Properties, Condominium and Property Management

Lisa Orme on LINKED INRealtor logoThe Master's Key Realty fan page           LISA ORME        Lisa Orme on TWITTEREqual HousingRSS


Licensed in the State of Connecticut, ABR, CRS, GRI, PSCS, SFR, Notary Public, Lic. #REB.755648

 Broker/Owner of The Master's Key Realty LLC, 340 Broad Street, #320, Windsor, Connecticut 06095

To contact Lisa, call 860-688-1400 or send an e-mail to

Copyright, Lisa Orme, 2010.  All rights reserved.

Comment balloon 4 commentsLisa Orme • January 20 2012 11:39AM


LIsa~ Great information for consumers...most people have no idea where to start! Getting financially ready is certainly the first step!!

Posted by Melissa McKinney, Realtor, (McKinney Realty Group) almost 6 years ago

Thank you for sharing such important information. I can undersatnd why buyer come to you. When you arm your clients with information like this they will be loyal, as you know.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 6 years ago

Lisa you made excellent points, but point #7 particularly stands out for me, "The best time to find out about a "problem" on your credit is BEFORE you start looking for a home.  No one wants to get derailed or delayed afther they've afallen in love with a home."

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 6 years ago

Joe & George:  Thank you for your responses...always good to hear from the mortgage experts that I'm on the right track!  (pun intended, Joe!)


Posted by Lisa Orme, Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu (The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY) almost 6 years ago