Mortgage Refinancing Procedure: Credit Check
Home Mortgage Refinancing and a Credit
Check -- An Intro
If you are applying for home mortgage,
you have already gone through the credit check procedure
and know what a headache it can cause. You have probably
seen what kind of advantages or trouble that three digit
number—you credit rating—can cause. You probably also
know that errors on your credit report can creep up
without you knowing, and cause you to lose loans and
other credit you should be eligible for.
Get a Copy of Your Credit Report
Before you apply for home mortgage
refinancing, get a copy of your credit report. Because
all the big three credit reporting agencies—Equifax,
Experian, and TransUnion—and comb them carefully for
errors and make a detailed list of them. If you find
problems, there are steps you can take to correct them.
Disputing Errors in Your Credit Report
First, notify the bureaus in writing.
Get this done immediately—fixing everything is going
to take a couple of months or more, so start the process.
Notify the creditor as well, and take the necessary
steps to getting this bad information off your credit
report. Whatever you do, don’t agree to pay something
off that you don’t owe just so you can make things happen
faster—this amounts to agreeing to the bad debt, and
it will follow you for seven to ten years.