Scrubbing Your Credit Report

Reviewing your credit for potential problems is so important. You won’t know what needs to change until you look your credit in the eye and deal with it. Do you have bad credit? Are you aware of what you have in your name? If you don’t know, then why not?




The key to dealing with bad credit is to get your credit report from all three major credit bureaus. Not all creditors report to each and every one, so it is best to see what is out there with each of them. Not all of them get the information at the same time, and there are companies that may only report to two of three bureaus. Every once in awhile you will find a company or lender that just reports to Transunion, so be sure to find this out in the beginning.



Finding out what accounts you have in your name and what accounts show slow pay is the best way to fix your bad credit. If you have bad credit this can prevent you from getting the best rates and programs available to you in all areas including getting an FHA loan. If you have never owned a home and you would like to, then partaking of an FHA program is a good idea, but with bad credit that will stop you dead in your tracks. Have a credit score of 620 or higher will enable you to take advantage of their low down payment option of 3.5%, but with a lower credit score you will need to come up with more money.



For more information on credit guidelines for FHA and options to get your credit repaired, you can go to www.fhaloansnow.net.



-Mayer Dallal