MORTGAGES; Repairing Credit Histories — via nytimes

BORROWERS with credit scores that are a few points from qualifying for a loan may be tempted to resort to credit-repair agencies for quick help in raising their scores. In some cases, the move can pay significant dividends. But industry executives and regulators say that it can often be a waste of money. Credit repair is sort of a pejorative term, said Norman Magnuson, a spokesman for the Consumer Data Industry Association, a trade group for companies that track consumer credit. This is because many credit-repair agencies promise more than they deliver, Mr. Magnuson and others said.

Full article via nytimes