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 Get
Ready! ... Get a copy of your credit report for free!
If you're considering buying a new home, the best thing you can do
for yourself is to improve your credit score, called the FICO score.
The higher your score, the better financing you will be able to secure.
So, while you are researching neighborhoods, schools, taxes, etc.
make sure you check out
www.myfico.com . Go to the Credit Education section for several
great articles, including how to improve your score.
The Fair and Accurate Credit Transactions Act (FACTA) requires, among
other things, that the three nationwide consumer reporting agencies
(Equifax, Experian, and Trans Union) provide to consumers, upon request,
a free copy of their credit report once every 12 months. To see how
you can receive a free credit report, go to www.annualcreditreport.com
.
 Get Set! ... Patch the dings in your credit.
If you find that your credit could use an overhaul, check out the
Federal Trade Commission
website. The article "Credit Repair: Self Help May Be Best"
has good information on how to repair your own credit, as well as
scams to watch out for with companies that offer to repair your credit
for you. To read that article and others, go to the "For Consumers"
section, and click on "Credit", click "For Consumers",
click "In Debt?"(blue section in the center of page). Pay
off your lines of credit until the balance is less than half your
credit limit on each card.
If you don't have any credit lines in your name, you may find that
you have no "good credit". Before you can qualify for a
mortgage, you will need a year's worth of payment history on something
in your name. If you are paying rent to a family member, have them
create receipts for your payments, get a phone in your name, or get
a credit card for something you use, such as gas or groceries, and
pay them on time in full every month.
 GO! ... Find a loan, find a home!
Need a home loan?
Weichert Financial is a direct lender and has over 370 loan programs.
Let us help you find one that works for you. Email
Judy to make an appointment with one of our Gold Services Managers.
For more information on mortgages, homeowners insurance, and much
more, check out Weichert
Gold Services.
Let's shop for that new home! Contact
Judy for a no-obligation consultation to find that perfect house
for you.
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