What to do with credit-challenged homebuyers

  • Agents are often asked to help clients with credit problems, but they don't always offer the best solutions.
  • Financial literacy is desperately needed.
  • Real estate professionals need to steer clients toward resources such as the CFPB and FTC.

Many real estate agents often do not know where to send potential homebuyers who have negative credit histories or have defaulted on their previous mortgages. Although they can offer several options, these options might not adequately meet their clients’ needs. Let me explain.