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...

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