I've been working in and around real estate for 20 years now. 2 decades! What? Wow! I started my career in banking where I handled a lot of home equity loans and worked with
Repairing Your Credit To Prepare For A Home Purchase 2 Of 4
Knowing and Understanding Your Credit Report
The first step in fixing any negative credit is to know what your credit report says. So you paid off a loan 3 years ago and you think it is no longer showing as a debt on your credit report? Don't assume that it has been reported accurately. How about a short sale you completed 5 years ago? You went through a lot of heartache and headache to complete that sale instead of just walking away. How would you feel if it was incorrectly reported as a foreclosure? That happens frequently.
By law, you are entitled to one free credit report a year from each of the three bureaus; Experian, TransUnion, and Equifax. You can request your free report in writing or you can visit www.annualcreditreport.com to request one from each bureau.
It's important to remember that each of your credit reports will probably be reporting information differently so you need to check and fix each one. It's a pretty simple process to fix your credit report once you find errors. You can visit each site (Experian, TransUnion & Equifax) to submit a dispute online. Once you've done so you will get the opportunity to view your report again after the fix has been made.
Remember! Talk To Your Lender
Ultimately, if you are looking to purchase a home in the next 3 to 6 months THE FIRST thing you should do is contact a highly qualified lender to pull your credit and walk you through what you should do and when to be in a position to purchase when you are ready.
There are a ton of loan officers out there and it really matters who you choose. Don't wait any longer contact me today! I am here to help you become a proud home owner!
Regina McKinney is dual licensed, meaning she holds real estate licenses in both New Mexico and Arizona and she actively works in both markets. She is an "outside-the-box" thinker with her finger on t....
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