Repairing Your Credit To Prepare For A Home Purchase 2 Of 4

Dated: 04/05/2017

Views: 79

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!

Blog author image

Regina McKinney

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....

Latest Blog Posts

Come Back Kid

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

Read More

Why Choosing The Right Title Company In ABQ Matters

Why does it matter who you chose to close the sale of your home?- A lot of people don't know this, but title companies play a vital role in the sale of a home.   A title company

Read More

May 2018 Market Statistics

MAY 2018 MARKET STATISTICSALBUQUERQUE, RIO RANCHO, & LOS LUNAS HOME SALESprovided by: Christensen Properties | Joshua Christensen GAAR publishes detailed market reports on a monthly, quarterly,

Read More

Power Of Owner Finance

Almost daily, I meet people who ask me to help them learn how to invest in real estate.  When I ask them if they understand the power of owner finance, they all look at me with a look of

Read More