Posted by Elizabeth Dennis on December 19, 2009 | No Comments
A valuable look at what to consider if you are thinking of taking out a mortgage with a bad credit history. Consider if now is the right time, learn the pitfalls of a bad credit mortgage and consider your options such as Fannie Mae or the National Foundation for Consumer Credit.
From the resource: “Before you get a mortgage, consider whether now is the best time. You may want to give yourself another year or two to repair your credit.”
Source: LendingTree
Read More About Bad Credit Mortgages at Newbuyer.com
Posted by Elizabeth Dennis on December 11, 2009 | 2 Comments
Your Credit Report and Rating – Just Get It
Your credit history is one of the biggest factors to securing a home mortgage at the lowest interest rate and with best terms available. Why is it that we all know this fact but are hesitant to open that door and come face-to-face with our credit information?
Perhaps our biggest hurdle is the impression that getting our credit rating will be a difficult and time consuming process. You may be surprised to know just how easy and quick it is to get a free credit report. That may have just sounded like a sales pitch – I assure you – it is not.  It truly is fast and easy.
You’ve seen the television commercials and online advertisements for numerous credit report online sites. Yes, these sites will help you get your free credit report but they will also try to sell you a credit monitoring service and other products. No doubt these sites are valuable tools for protecting your credit, but you can choose these services later. Let’s keep it simple for now.
Annual Free Credit Report Program
Here’s all you need to do. Go to AnnualCreditReport.com.  This site was created and authorized by the three major consumer reporting agencies, Equifax, Experian and TransUnion.  It is THE official government-authorized website supporting the Fair and Accurate Credit Transactions Act (a federal law passed in 2003) which allows you to obtain a free credit report every 12 months from each of the three reporting companies.
How Easy it Really Is
- The only information you will need to provide to AnnualCreditReport is:
- Full Name
- Date of Birth
- SSN
- Current Address
- Prior Address (if at current address less than two years)
- After entering the above information, you’ll choose TransUnion, Experian, Equifax or all three. You’ll be directed to each agency website separately. As you conclude each visit, you’ll be conveniently brought back to AnnualCreditReport where you can move on to another agency site or finish up.
- Additional information required by the agencies is minimal. Experian only asks four easy multiple choice security questions.
- With regards to which agencies to choose at this point, you may request all three right now or space them out over the year (perhaps you’ll want to get one every 4 months or so).
- The detailed credit report will be absolutely free. You can obtain your credit score for an additional (optional) charge of $7.95.
It couldn’t get much easier. If you have ten minutes, head on over to AnnualCreditReport right now. Won’t it be a great feeling when you can check that off your to-do list?
Posted by NewBuyer on December 9, 2009 | No Comments
Ten high-level tips and principles to help safeguard your credit, which is crucial when buying a home. Learn the importance of protecting your credit rating by not spending above your needs, creating a budget, paying your bills on time and paying your balances in full. Protect your privacy by asking why personal information is needed, creating secure passowrds, being wary of scam emails and more.
Source: Freddie Mac
Read More About Mortgage and Your Credit at Newbuyer.com
