You and your credit score
Beware of companies offering to fix your credit rating for a fee. In most cases, the fixes are easy and can be performed by you.
Whether applying for a mortgage or any other loan, your lender will need to access your credit file. Your credit file contains information on any credit you already have, including lines of credit, credit cards, loans or other mortgages. It will also show the lender any collections or bankruptcies, a list of the inquiries that have been made from other lenders, and much more.
If a mortgage or loan application is being denied, citing your credit report as the reason, be wary of companies advertising to "fix" your faulty credit for a fee. As we learn in this article, most of the fixes are fast, easy and can be performed by you.
Click here to read the full post from Mortgage Broker Journal.
For more information on keeping your credit report clean and up to date, contact a qualified Mortgage Broker.