If for various reasons, you find yourself reported to the Credit Bureau and want to leave it to have a better credit history, consider applying mortgage liquidity.
Probably, you have had to live somewhat complex situations, for which you could not pay all your obligations and as a consequence you have been reported to the Credit Bureau.
Some of these situations can be job loss, a bad investment, an illness, an accident or something as unexpected as the pandemic caused by COVID-19.
Do not care anymore! There are some alternatives that can help you get out of the Credit Bureau, such as requesting a liquidity loan with a real estate guarantee. In this way, the liquidity you receive can be used to pay your debts. Prequalify here to know if you are suitable for this type of financing.
What is the Credit Bureau?
First of all, we remind you what the Credit Bureau is and its importance. The Credit Bureau is an official entity, which archives the credit history of all people, which means that you have the records of the people who pay and not their debts, well known as defaulters.
The information found in this registry is about the behavior of payments of any type of credits, either personal or mortgage. In addition, to register the payment of basic services such as electricity or water.
All financial entities will be able to access this information as long as you have authorized it at the time of requesting a loan. Here, lies the importance of not being reported in the Credit Bureau in a negative way, since if a bank sees this information, it will not grant you the credit you request.
What is home equity?
The concept of Mortgage, also known as real estate collateral, is very simple: it means receiving a money loan with a bank or financial institution for which you need to leave your property as collateral.
For this reason, you must be a homeowner to apply for this type of financing. Prequalify here to find out if you are eligible for a liquidity loan with a real estate guarantee.
How does mortgage liquidity help me get out of the Credit Bureau?
Upon receiving liquidity for the loan that you will obtain thanks to your home, you will have the money necessary to pay your immediate debts.
These payments will be reflected in the information collected by the Credit Bureau, giving you the opportunity to delete the record of your credit history within a period of 72 months.
For this reason, when you make the payment of your debts, you should check with the banks the closing of your debt.
The Credit Bureau only deletes records as established in the Law to regulate Credit Information Societies and the general rules of Banco de México.
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