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The Importance of Your Credit Scores!
Mortgage companies are tightening standards and reducing options available to homeowners.  There are a couple of tips that may help individuals qualify at more favorable terms on their home purchase or refinance transaction.
Requesting a copy of a credit report to check credit history will not affect a consumer's credit score. If consumers find errors on their credit report, they should follow the directions included with the report regarding disputes or errors. Generally, consumers must write the credit bureau and advise them of the error or dispute. The credit bureau will then contact the provider of credit who reported the information, and that provider will have 30 days to respond. If the provider of credit agrees that there is an error, it will instruct the credit bureau to delete the item from the credit report.
Recognizing that one's credit score is a vital part of the home loan process is the first step. The following is a list of steps consumers can take to help increase their credit scores and further simplify the loan application process.
Making Timely Payments. Making payments on time is the best way to increase a credit score. Delinquencies, foreclosures, bankruptcies and judgments will decrease the score. Limiting Trade Lines. ... more

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