With the current home loan industry tightening up rates and qualification guide lines , now is even more
important to do all you can to push up your FICO score as far as possible. Meaning that one should make sure
your report is reflecting correctly your credit history. A higher score ensures a larger selection of loans to choose
from and lower interest rates.
By now you, and many other consumers may have obtained a credit report on yourself. This may be the a
single credit reporting agency from Transunion, Equifax or Experian, which you may obtain for free on-line or by
mail once a year. Another way is obtaining a tri-merged credit report from your mortgage agent or retail bank
lender. So now what? Is everthing correct ? An experienced mortgage agent will be able to see obvious suspicious
debts with your help to identify what is correct or not or not reported at all or maybe not clarified. Next, by using
a properly formatted letter (see www.interrasol.com) one will need to write to each agency individually to
request the desired correction. Why? Because each agency has its own data base and corrections will not
migrate to the other agencies. So, if an error is reported at all three agencies then you will have to send a
Certified USPS envelope with your letter to all three. Why Certified? Well, how are you going to prove you ever
sent that letter to such and such an agency, right?
Did this ever work for me?
WELL ONCE UPON.....
a time there was a friend who has a son of the same first and last name and middle initial too. The middle names where different, but have the same begining letter, not to mention that the grandfather's name is the same too. Wow! this is a title vesting caution flag way up. Anyways, the son was making several late payments on his credit card which was on the fathers credit report at all the three credit reporting agencies, a very common mix up. So, the father's FICO score was now a 628. I was consulting this friend to buy a duplex investment and obtain a loan too. So, by using these letters I was able to move the debt from the father to the son's. The father's FICO score moved up to 732 within 40 days! Yahoo ! Boy, I was even gladly surprised by that. Needless to say we moved forward and my friend is now the owner of a duplex in Manteca, CA.
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