Your Credit Report – Critical To Obtaining a Mortgage
Inaccurate reporting continues to create havoc throughout the credit industry. The primary deficiency is clerical error which would seem to be an easy fix but usually it is not. Credit repositories (bureaus) will not make changes to the information reported by ones creditors without confirmation by the creditor. The creditor’s employees are reluctant to authorize the bureaus to change reported data without proof that information reported was erroneous. However, there are ways consumers can protect themselves. How important is ones credit rating? Well, anyone who is applying for a mortgage or buying anything other than with cash, your credit rating will determine if you CAN obtain a mortgage or service, and WHAT the interest rate will be. Depending on how...
Read MoreWhat To Do When Your Credit Score Is Low
These past months, you might have been expecting a large purchase headed your way. It could be a house or even a vehicle. You have been anticipating it for several weeks. Maybe it’s that big screen television set! You require financing for this, no matter what the situation is. Discovering that you’ve been denied for financing or simply a credit card you sent application for due to an unsatisfactory credit rating is a terrible feeling. You might have difficulty discovering someone willing to take on credit or a new credit card for you, if your credit rating is below 620. Scores less than 620 can be improved by means of just a little bit of work on your behalf, which is great news. Requesting a duplicate of your credit report so you’ll find out...
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