your credit from fraud
identity theft is on the rise. Here are some things you can do to safeguard
- Burn or shred
any paperwork containing personal information including, pay stubs,
credit card receipts, bank statements, utility bill stubs, ATM receipts,
old tax returns, and anything containing your Social Security Number.
- Order a copy
of your credit report at least once a year and review it to be sure
that all information is correct.
- Secure important
documents in lockable file cabinets or safety deposit boxes.
record and inaccuracies
When you apply for credit, lenders review your outstanding debts, your
bill paying history, the current number of your creditors and the outstanding
balances. If your credit report shows patterns of late payment, overextended
credit, liens and garnishments, foreclosure and/or bankruptcy, your
chances of being turned down increase.
But your credit report shouldn't always be taken at face value. Credit
bureaus record billions of transactions - including yours - every day.
Given that huge volume, it's not surprising that reporting errors can
happen. That's why the accuracy of your credit report depends so much
on you. If a credit bureau reports unfavorable information about you
and you can show that the information is inaccurate, the bureau is obliged
to remove it from your file. At the same time, you can also request
that the bureau send notification of the correction to all the creditors.
Check it often and make corrections
Your credit report tells mortgage brokers / lenders a great
deal about you. You can make your loan process go much faster by obtaining
your credit report ahead of time. Once you have obtained a copy of your
report from all three major credit bureaus you should provide
each of the bureaus with a written request to investigate the status
and correct any outdated, inaccurate or ambiguous information.
is a separate issue
When you attempt to have the credit reporting agency correct
several items (or even all items) at once, the agency may claim that
your request is frivolous. It is also a good idea to write to the creditor
reporting the inaccurate information, include copies of any "proving"
paperwork. It is very important that each questionable item is dealt
with individually. When disputing items on your credit report, make
sure that you retain copies of your credit report and your dispute letter.
Mail the letter as Certified, Registered, or Return-Receipt Requested,
and retain a copy of the return receipt when you receive it.
Use our quote
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!