Did you know that just about everyone has mistakes on their credit report? How could that be you may ask?
The credit bureaus are in the business of selling the information creditors supply to them. They are NOT in the verification business. That means that any misreported, out dated, and even fraudulent information that is submitted to them lands onto your report and becomes part of the calculation of your credit score and thus your credit worthiness and rates you pay for credit, including your mortgage.
Since you are entitled by law to receive a free copy of your credit reports every year make pulling your actual report a part of your end or beginning of year routine. Just go to www.annualcreditreport.com and download a copy of your report each credit bureau. You will need to download each one separately. Create a folder and save them by year. Review them for accuracy and request any misreported, out of date or fraudulent information to be removed. You can get some good templates for letters at www.creditinfocenter.com It is absolutely not necessary to pay someone else to challenge incorrect information on your report.
Don't wait until you are ready to apply for a mortgage to clean up your report. The process will take time and when you are ready to buy your home this could be a huge stumbliing block that could cost you money or even the home of your dreams as it slips away while to force the bureaus to clean up your reports.
Grow Local Realty is a full service Raleigh NC Real Estate Company servicing Raleigh, Durham, Cary, Apex, Holly Springs, Clayton, Fuquay Varina, Garner, Wake Forest, Chapel Hill and all other Triangle areas including all of Wake County, Johnston County, Durham County, Orange County, Chatham County and Harnett County. We are dedicated to extraordinary customer service and are here to represent you with your next home purchase or the sale of your current home. Allow one our fantastic agents to assist you with your Raleigh NC Real Estate search.
"One day, after Mr. Michael Johnson, took my wife and myself around for literally four (4) hours, perhaps even more on that day, looking for a house. I was at the point where I myself was saying to him that I thought that he had done enough for that day. We got to a lot in Wake Forest, that both my wife and myself liked. And as we stood there looking around I began speaking to Mr. Johnson, about my financial situation which to be truthful I am not proudful about one bit. Considering my age, and the length of time my wife and I have worked and yet our financial condition sucks, forgive my english grammar. Mr. Johnson, stood there and listened to me rant and rave about this matter, without as much as saying one single word. His eyes full of tears but yet he did not cry. He knew that I was hurt and ashamed of my situation, but not once did he as much as give me an idea that he did not care. I will never as long as I live forget that moment in my life, never. Mr. Johnson, then said to me after I dried my eyes from the tears that I shed there in front of him, he said to me, Oscar, we will do all we can to find you a home, I promise you that. Well, on December 31st. my wife, Carlota Belmo, Mr. Nelson Estrela, of New Penn Financial, Mr. Hamrick, the Attorney, Mr. Michael Johnson and myself Oscar Belmo, were at the table for closing on the home of our dream. Thanks to the effort of so many hard working people and the Grace of God. Thank you, thank you, thank you from the bottom of our heart. We love each and every one of you. God, bless you. May God, bless and keep each and every one of you."