Mortgage Lending and Credit History

Mortgage and Lending with Scissortail Financial MNLS#391580
Today, in the mortgage lending industry, credit scores and credit history is vital in securing a mortgage loan.  Every day I speak with people who indicate their credit is “stellar”, only to find information reflected on their credit report which greatly affected their score.

How does one review credit history?  

A Real Estate Professional is wise to discuss potential credit traps that may lead to problems down the road.  Your client will be grateful!

First, it’s very important to check all of your demographic information.  
  • Is your name spelled correctly and does it match the name on your driver’s license.  
  • Is your social security number correct?  

If there is an error, there may be additional errors in the credit history as well.  In other words, what I am saying is, what is on your report may not be yours, or there may be debt, whether paid or not that you have that isn’t listed.

Check back tomorrow for more tips you can advise your clients as they prepare to purchase a home.
Wayne Pope – Tulsa Mortgage Guy

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