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Struggling with less than perfect credit? Not sure if you qualify for a mortgage?

Qualifying for a mortgage with "problem" credit is possible with Financial Access, LLC. The company's goal is to help you obtain a mortgage by reviewing a current credit report, explaining how to correct the problem (s), and following up to assure your problem account(s) have been updated prior to settlement. There is no need to schedule a face-to-face appointment because the information can be relayed over the phone, fax, or e-mail. The process is one of the services provided by Financial Access, LLC to improve your qualifications for a loan.

The credit (FICO) scores provided by the three major credit reporting bureaus determines your ability to pre-qualify for a mortgage loan. If the average score is below 620, you (the borrower) will qualify for a "subprime" loan. You will pay a higher interest rate than a "prime" loan, because the lender views the loan as a higher risk for lending money.

A few examples of credit problems that would affect your FICO score noted on a credit report:

• Bankruptcy-Chapter 7 or Chapter 13
• Judgments
• Outstanding debt not paid for over 120 days in collections.
• Debt not paid and uncollected is changed to a profit and loss status
• Car payments and credit card payments delinquent over 30 days.
• Mortgage payments delinquent over 30 days
• Repossession or voluntary repossession of a car loan
• Foreclosure and repossession of a secure residential property
• Tax and other liens
• Complications from a divorce