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BUYERS: How to Find Out What is in Your Credit Report
Anyone who has ever had a bank account, mortgage, credit
card, car loan, or account with a retail store will invariably have a credit
rating. Most information in your credit
rating comes from companies you have credit with, as well as from certain
public records such as tax liens, bankruptcies, judgments and lawsuits. It is important to know and understand your
credit rating, how the information is compiled, and how it affects your ability
to acquire a loan for your new home.
Credit reports are usually divided into five sections:
1.Your credit history.
2.Who has reviewed your credit history.
3.Information you have provided for the credit company.
4.Specific identification information about you.
5.Explanatory notes and comments.
Different states have different requirements and it is
important that you check on what applies to you. There are three major credit-reporting
agencies, Trans Union, Experian and Equifax.
You can obtain a free copy of your credit report each year by going to www.annualcreditreport.com. Another approach some have used is to request
one report from each credit bureau in four month intervals, e.g., in January,
you request a free annual report from TransUnion, then in May, you request a
free annual report from Experian, and in September, order the free annual
report from Equifax and repeat the process each year.
REALTOR can also recommend a reputable mortgage lender who has the reputation
of providing excellent service and good rates.
This lender will be able to immediately pull your credit report for your
review and can make recommendations of how to make it better. The better your credit score, the higher your
credit rating will be.
Choose your agent wisely. Working with a full-time professional real
estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about
houses currently for sale in your price range and also of houses that have
recently sold. Can your agent recommend
a good lender that has the reputation of excellent customer service and low
rates? Does your agent ask questions of
you to have a full understanding of what you are looking for to help you get
the most home for the money?
Thank you for requesting a copy of this “FREE REPORT”
For prompt, courteous, professional service, call Jan
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Have questions, need advice or just want to discuss
Don’t waste any more time; pick up the phone and call
me now! I’m here to help!
P.S. I appreciate your business, your loyalty,
trust and your referrals. It is my goal to provide the very best counsel,
advice and service possible for your real estate needs. If I may ever be of
assistance to you, a relative, friend or co-worker please don’t hesitate to
call me. I look forward to the opportunity to serve you.™