She Strengthens

Taking Control of Our Finances: A Journey to Homeownership

A Dream Within Reach

About four years ago, my husband and I set our sights on owning a home, a feat that seemed nearly impossible in Los Angeles without a trust fund. However, after my startup was acquired, we received a substantial amount of money, which motivated us to start saving and planning for our future.

The Road to Pre-Approval

Two years ago, we decided to apply for pre-approval for a loan, treating it as a test run. I gathered a plethora of financial documents, including bank statements, proof of income, and our credit scores. While my credit score was in the green range, my husband’s was surprisingly lower. After some investigation, we discovered he had $20,000 in debt, which was a shock to both of us.

The Power of Knowledge

Using CreditRepair.com’s services, we were able to gain insight into our credit scores and identify areas for improvement. We learned that my husband’s casual use of credit cards for everyday purchases had added up over time, making it essential for us to create a plan to pay off the debt quickly.

A Plan of Attack

We took immediate action, using $15,000 from our savings to pay off most of the debt. The remaining $5,000 would be paid off in six months. To achieve this, we implemented several strategies:

• Strategic Credit Card Use: We began using our credit cards more thoughtfully, taking advantage of low APRs and paying off balances in full each month.
• Cutting Back: We reduced unnecessary expenses, such as dining out and subscription services, to free up more money for debt repayment.
• Freelancing: I started freelancing on the side to bring in extra income, which added up quickly.
• Tracking Expenses: I created a detailed chart to monitor our spending, ensuring we were aware of every purchase and payment.

The Reward

After paying off a significant portion of our debt, we felt more in control of our finances than ever before. In May 2019, we put an offer on a house in East LA, which was accepted. We were finally homeowners! With our debt under control, we were able to use our credit cards responsibly for repairs and new furniture.

The Importance of Credit Score

Improving your credit score is crucial when making a major purchase like a home. CreditRepair.com can help you navigate your credit score, identify areas for improvement, and ensure you receive the interest rate you deserve. By taking control of our finances, we were able to achieve our dream of homeownership.