rightYour credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, its important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home.

The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC), is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Under the FCRA, both the credit reporting agency (CRA) and the organization that provided the information to the CRA (usually the credit card company) must correct any errors or incomplete information in your report.


If you encounter a mistake on your credit report, consult one of our mortgage professionals.  How you address the issue can be critical in ensuring your ability to purchase or refinance a home.  Several steps can be taken to correct credit report mistakes.  But it's important not to start disputing items with the credit agencies without knowing how those disputes may affect your ability to borrow in the future.  We are here to help.