What you don't know can hurt your credit!

When was the last time you saw a copy of your personal credit report?  If it hasn't been recently, then it may be time to get a copy, especially if you're considering a real estate purchase in the near future.

It is estimated that more than two out of five people have erroneous information on their consumer-credit reports. Incorrect information can cause long delays in the approval process and can even be the basis for denial of credit, including a mortgage.

The time to check with credit reporting agencies is when you don't need the credit.  It can take months straightening out a problem and you don't need that added stress during the home buying process.

The major credit reporting companies are TRW, Equifax and Trans Union.  Since they operate independently, you might check your report at all three.  If you have difficulty, you can ask for help from your mortgage or commercial banker.

One of the most common misunderstandings homeowners have is that since there may not be a late fee due on the house payment until the 15th of the month, they think it isn't due until then. The house payment is due on the 1st of every month and will not only be considered late but reported as such if it is received after the first.

 

 
Inside this issue:
Free Credit Reports Likely
Under Next Version of Law

"The Senate favors making permanent the national credit standard that makes it easier for borrowers to obtain mortgages, loans, and credit cards.."
More >>

Tips for Homeowners
Insurance Coverage

"...experts are urging consumers to make sure their homeowners' insurance coverage is sufficient."
More >>

You Need to Have Goals for Successful Investing in Real Estate

"Real estate has been one of the primary sources for investors to place their money for the last thousand years."
More >>>

Getting the Mouse Out of
the House

"About 21 million U.S. homes are invaded by mice each year."
More >>

 

Licensed Real Estate Brokers in:
Georgia, South Carolina, & Kentucky

      

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