What if there are errors on my credit report?It is not uncommon to find errors on your credit reports. The best way to deal with these errors is to provide the credit reporting agencies with documentation that proves there are errors. The agencies are required to research your claim and if the agency is able to verify that there is an error, then they will remove it from your credit report. Your loan officer is required to verify the information you provide in your loan application by obtaining your credit report. He will discuss the results of your credit report with you and if you believe there are errors, then you may contact the agencies to have them corrected. However, if you haven't checked your credit reports in a while, and you are anticipating a home purchase or refinancing in the near future, then it is recommended that you take a proactive approach by checking your credit reports now and taking any necessary corrective actions since the credit reporting agencies typically take 6 weeks to make any corrections or changes to your credit report. By being proactive on this, you will avoid delays in your loan approval process due to inaccurate credit information. You can order copies of your credit report from all three of the credit reporting agencies: Equifax, Experian (TRW), and TransUnion. |
We Say "YES" When Others Say "No" 857-205-1068 Centurion Funding Corp. of America 162 East Main St. Avon, MA 02322 |
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