When you apply for
a home loan or refinance loan your prospective broker / lender reviews
your credit report. This is why you should check your credit report
regularly and understand the information it contains. If your report
contains information that is fraudulent and inaccurate, you need to
Your Credit Report
Before attempting to correct any errors on your record, it
is first important to know what kind of information you may expect to
see on a standard credit report.
Items such as your name, any aliases, current and previous
addresses, social security number and possibly marital status should
be verified as accurate and up-to-date.
and Other Credit Accounts
These include all regular installment or revolving credit
lines such as charge cards, auto loans / lease, mortgages, and credit
cards. Information regarding each account including, beginning balance,
current balance, date account opened, and number of late payments will
also be documented. It should be noted that not all credit accounts
might be listed on your credit report since not every credit grantor
reports to the same credit bureaus. This is why in order to review of
your credit file; you should look at information from all three major
Each time you apply for credit and a creditor looks at your
credit file, an "inquiry" appears on at least one of your
credit bureau files. Inquiries can also appear when an existing credit
grantor reviews your credit periodically or when you review your own
credit report. These requests for your credit report are noted as part
of your credit history file and can remain for 24 months.
Some court records may be documented; this includes bankruptcies,
satisfied judgments, liens, judgments, satisfied liens, and divorce.
Your credit report will not include information about your
religion, race, salary history, checking or savings accounts, personal
assets, stocks and bonds, medical history, criminal record and personal
reading the other "Credit"
sections for more information on your credit report, what's on your
report and how to obtain a credit report.
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form, a mortgage feature on California Mortgage & Home Equity
Loans, Co. to locate a lender in your area offering the mortgage
product that best suits your needs. The independent lender you select
will work with you to help find a low-cost mortgage that meets your
needs. Apply today!