Mortgage Tips, Tricks & Secrets

These Top 4 Insider Tips About Credit Repair And Credit Knowledge Can Save Your Mortgage Loan

(1) You have 3 credit scores from each of three credit bureaus. Your middle score is used when purchasing a new home mortgage or doing home refinancing.

(2) Your “mortgage” credit score is lower than your consumer credit score (used to buy an automobile or get a credit card) simply because there is more credit risk for the lender on a mortgage as opposed to an auto loan.

(3) Credit repair is NOT illegal, it’s simply the process of removing incorrect negative items from your credit report. The concept of credit repair is supported by the governments “Fair Credit Reporting Act” (FCRA).

(4) When mortgage shopping, having multiple lenders check your credit does NOT affect your credit score. It’s understood by creditors that you will be shopping for auto loans and mortgage loans and the typical shopping period is 45 days. Any credit checks within 45 days only count as one inquiry. Check the rules yourself at MyFico.

There’s absolutely no reason for you to fear the credit reporting and credit repair process if you understand the 4 tips above.

I’ve put together a free email and audio course that will show you exaclty how to approach the credit tracking and credit repair process. You can get more details and signup for the free information on my Best Credit Repair Tips << here.