Fannie Mae & Jumbo Mortgage Rates Just One Click!= Current Rate Chart
According to Credit Repair by Robin Leonard and Deanne
Loonin, the key to improving credit scores is to remove negative information.
Out-of date information: - lawsuits, paid tax
liens, accounts sent out for
collection,
criminal records (but not criminal convictions), late payments and other
information older than seven years - Bankruptcies older than ten years
Incorrect information:
- incorrect name, address, phone number,
Social Security number
and/or employment information - bankruptcies not identified by the chapter
number - accounts not yours or lawsuits in which you were not involved
- incorrect account histories – such as payment history -
duplicate accounts - closed accounts that still show open
If there are errors to your credit report, then take the
following steps:
Complete a request for reinvestigation form or send a letter
listing incorrect items and explanation to correct error.
Credit bureau must
investigate
issue within 30 days upon receipt. Send follow-up letter after 30 days of no
response.
If credit bureau can’t remove information, then contact
creditor (ex. Customer service deparment, president, or CEO).
Note: Credit bureaus are not obligated to make any changes.
One of the key things to remember when trying to repair your
credit is knowing what to pay off first. The secured debts should be high
priority since they are linked to an item for collateral. The item is anything
of value that the creditor can take if you don’t repay such as a house.
There is no collateral for unsecured debts. Student loans and alimony/child
support payments should be top priority for unsecured debts since creditors can
use aggressive
collection
tactics.
Secured debts – have collateral
Mortgages and Home Equity Loan (HELOAN) or Home Equity Line
of Credit (HELOC)
Cars, boats, tractors, motorcycles, planes, RVs
Personal loans from finance companies
Tax liens, judgment liens, mechanic liens and child support
liens
Unsecured debts – no collateral
Credit card purchases
Gas
Student loans – more priority
Bills from doctors, dentists, hospitals, accountants, and
laywers
Alimony/child support – more priority
Rent
Utility bills
Fannie Mae & Jumbo Mortgage Rates Just One Click!= Current Rate Chart
