Real estate for sale in southern California communities. Cheryl Gollnick, Real Estate Broker

Credit

Credit is an issue most people don't like to think about - because most people have some type of credit issues.

It is essential to find out what your credit profile looks like to lenders if you are looking to purchase a property and are seeking a bank loan to buy it.

Be sure to run your credit report so you know where you stand before applying for the loan.

There may be some credit issues you need to clear up first. Many times buyers don't realize there may be erroneous or outdated information on their credit reports that need to be cleared before applying for a loan.

Note that by law, information reported about you to credit bureaus must be fair, accurate, relevant, substantiated and verifiable. 

It is estimated that 40 million Americans have mistakes on their credit reports. 

Credit repair companies report that these items can be removed from credit reports but you should verify with them if these items can be deleted:

  • Short sales
  • Foreclosures
  • Bankruptcy
  • Mortgage lates
  • Credit card lates
  • Car loan lates
  • Child support
  • Student loans
  • Collections
  • More...

Note that we cannot refer you to any repair agency so you have to search and find a reputable company on your own.


 
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