Search AZ Homes East Valley MLS

Rapid Rescores are used to increase your credit score in a short amount of time. This is used by mostly mortgage brokers because credit scores can make or break a deal. The cost for a rapid rescore is usually $60.00 and is paid to a mortgage broker. Other agencies can do this but may charge a higher fee to service it. The only time a borrower should consider a rapid rescore is when they have a trade line not showing correctly on their credit report. For example, if a borrower has a credit card maxed on a credit report, but in fact only owes much less, they can benefit from a rapid rescore because the potential of their credit score going up 20 points if very high. Another example, is charge off’s of a credit report or collections that are not showing paid in full when in fact they are. Removing these items can take months by submitting letters to the credit bureaus but running a rapid rescore can remove these in 24 hours and improve ones credit report immensely. With any rapid rescore, make sure the derogatory item is being removed or updated by all three credit bureaus and not just one.