Changing your name….
When changing your name it is imperative that you change everything within a very short period of time. It is a very complicated tedious process to change your name. If you decide you need to do this please make sure it is timed to best benefit your momentary and future financial plans. When it comes to name change timing is everything.
If you are going for financing within the year it is best for you to wait until after you get your loan. Many consumers who change their name prior to getting a mortgage find their credit reports in error, the bank writing the loan requiring more documentation, and generally it adds more stress to an already intense situation.
When you change your name it is surprising who requests what information. You even have to supply proof of SS and new name plus a divorce decree to EZ-Pass. It is a great idea to have all your proof in one place and spend a few hours calling and faxing all your creditors. Here is a list of some of the areas to remember to focus on. New SS card, Credit Cards, license, Insurance cards, Life Insurance, Health Insurance, Bank Accounts, EZ-Pass, Store Credit Cards, Wills, Home owners policies, Change all automatic bill payments (pet insurance), IRS, Car Registration, Stock accounts, Investment accounts, and I am sure I missed some.
“Great credit brings great opportunity”
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Thanks for the info. Yes a foreclosure is worse than a short sale in many ways but they both do the same thing to the credit score. The short sale is viewed as a settlement and that will impact the score dramatically. We at North Shore have removed both foreclosures and Settlements through the credit restoration process. Thanks for the input!