Step by Step Mortgage Guide

Understanding Your Credit Report

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Get a free copy of your credit report today.

Mistakes, Mistakes, Mistakes

The first thing to look for is mistakes on your credit report. If you find a mistake make sure to contact the credit agency for their policy on submitting changes. You will have to prove that it is a mistake.

Put your Pride Away and pay those unpaid bills

That bill you never paid because the service was lousy or you do not agree with the company can cost you. A bill you never paid can cost you thousands of dollars on your mortgage. It will look better to have that bill paid then to never pay it at all.

Credit Reports and Time

Anything listed on your credit report will stay there for seven years. After that time it will be removed. This is federal law.

Ways to improve your credit

• Pay bills on time
• Get current with past due payments
• Get your credit cards under 20% of their maximum limit. High balances on your credit cards affect your credit negatively, even if you pay them on time.
• Pay off debt
• Increase your available credit instead of getting new credit cards
• Only make credit card purchases that you can forsee paying off in the next month or two

All of the ways to improve your credit are easy to say but can be hard to do. Try to reduce your spending and make a list of all your available debt. See what you small debts you can eliminate first and then make a plan to eliminate the larger debts. Make your payments like you are currently doing and then try to make extra payments whenever possible. Reduce and eliminate debt is not simple and is not quick, but when you can manage it properly getting rid of it will be easier and take a lot of stress out of your life. Do not be afraid to face your debt head on and knock it out, it may take some sacrifice but it will only benefit you in the long run. Get a copy of your credit report today.

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