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 Review them for accuracy and request any misreported, out of date or fraudulent information to be removed.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.
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"Wayne Hoose of Grow Local Realty
Wayne was terrific! He was always early (punctual), always very responsive to email, texts and phone messages. He was proactive and anticipated my needs. We had an unusual situation that made Wayne have to spend extra time doing things that are not normally a part of a residential real estate deal ( I was hoping to start a business which involved zoning and permits and such). Wayne went above and beyond the call of duty to answer questions that I had and did a great job for me!"