Buying A Home – Resolving Errors On Your Credit File
Once you receive your credit report, you’ll need to check for any mistakes and incorrect information in your report. If you don’t correct these errors on your report, your credit score will suffer, and you’ll have a difficult time obtaining a low interest rate loan. Once you discover the errors, follow each agency’s procedure and forms to use for disputing an error.
Once the credit reporting agency receives your dispute, it has three days to research your dispute and notify you of its findings. If they cannot verify the information contained in their files, the agency is required to remove that information from your file. If they don’t, you have the right to place a statement in your file telling your side of the story.
There will be instances when you can negotiate directly with your current and former creditors to resolve any errors or misinformation on your report. If the information is deemed correct by the creditor, you can try settling the debt for a lesser amount and negotiate for the creditor to clear the item from your credit report.
After resolving any errors on your report, you can contact local Tustin Realtors to help you start searching for your dream home.
No Comment