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48. How can I find information about my credit history? There are three major credit reporting companies: Obtaining your credit report is as easy as calling and requesting one. Once you receive the report, it's important to verify its accuracy. Double check the high credit limit;total loan; and past-due items; It's a good idea to get copies from these companies to check your credit report.  These companies can assure there are no mistakes since any of the three could be providing a report to your lender. Fees, ranging from $5-$20, are usually charged to issue credit reports but some states permit citizens to acquire a free one. Contact the reporting companies at the numbers listed for more information.  Note: if you are applying for a job, the credit report is free. Experian 1-888 397 3742.   Equifax 1-800-685-1111  Transunion  1-800-916-8800 http://www.transunion.com/ By Phone: 1-800-916-8800 By mail, Transunion Consumer Relations P.O. Box 2000 Chester, PA 19022-2000 Are you entitled to a free TransUnion Personal Credit Report?  Under certain circumstances, you may be entitled to a free credit report. TransUnion values your security. When you purchase a TransUnion Credit Report online, we use your credit card information to verify your identity. Because you don't provide credit card information when ordering a free credit report, we are unable to deliver free TransUnion Credit reports online.  Free report form.  Alternatively, you may request your free copy of your TransUnion Personal Credit report by calling 800-888-4213.  You are entitled to a free credit report if:  You were denied or were notified of an adverse action related to credit, employment, insurance, a government license, or other government granted benefit within the last 60 days and a TransUnion credit report was used in the decision process.  You were denied a house or apartment rental or were required to pay a higher deposit than normally required within the last 60 days and a TransUnion credit report was used in the decision process.  You certify that you are unemployed and intend to apply for employment within the next 60 days.*  You certify that you are a recipient of public welfare assistance.*  You certify that you have reason to believe information on your TransUnion file contains inaccurate information due to fraud.  *You may only receive one report per year.  Residents of the following states are entitled to one or more free TransUnion Personal Credit Reports during the indicated time period:  Colorado 1 per calendar year  Georgia 2 per calendar year  Maine 1 every 12 months  Maryland 1 every 12 months  Massachusetts 1 every calendar year  New Jersey 1 every 12 months  Vermont 1 every 12 months  If you don't qualify for a free credit report or would like immediate online purchase of you report, you may still purchase one.  Get your TransUnion Personal Credit Report and Score.  Get your TransUnion Personal Credit Report.  ======================================== http://www.experian.com/ Experian P.O. Box 2104/Allen, TX  75013 Include: full name, old address, current address, date of birth, ss#, id card copy, and utility bill. Ordering your credit report and credit score  Order online and get immediate access to your report and score. Order by phone: 888 397 3742 Disputes regarding your credit report You must have a copy of your Experian credit report to use this service. Check out Disputes to request an online dispute, check the status of an existing dispute and review your results.  Contact us by phone: 888 397 3742 Fraud, identity theft and your credit  Visit our Credit fraud center to add alert statements to your account Contact us by phone: 888 397 3742  Additional information on fraud including tips for victims, Experian fraud-prevention procedures, FAQ'S, and links can be found in Preventing credit fraud Existing Credit Manager membership customer questions  Credit Manager members: Visit CreditExpert or email us Contact us by phone: 800 397 3742  Questions concerning your credit report or general question about credit  Browse the Credit education section and get the answers to your questions about the basics of credit reports and scores, identity theft and fraud, credit advice on the hottest topics and more. Experian's National Consumer Assistance Center does not recognize faxing as a secure means for transmitting confidential consumer identification information. Therefore, we do not accept consumer correspondence that is faxed to any Experian office. Faxed documents are not processed.  Order your report online or call 1 888 EXPERIAN (1 888 397 3742). For fast resolution, dispute online, or for assistance, call us at the toll-free number on your report or write to us at the address on your report.  Important facts about the accuracy of your credit report  Email alert  The FACT Act  The Fair and Accurate Credit Transactions Act (FACT Act) was signed into law in December 2003. The FACT Act, a revision of the Fair Credit Reporting Act, allows you to get one free copy of your credit report annually. The law requires that Experian and the other national credit reporting agencies work with the Federal Trade Commission (FTC) to provide a single point of contact so you can get reports from all three national credit reporting agencies with a single telephone call or Internet request.  Developing and implementing such a system is complicated. Therefore, the law allows up to a year for the FTC and credit reporting agencies to put the system in place before free credit reports will become available. As a result, free credit reports will not become available until December 1, 2004. We will provide more information as it becomes available.  ======================================= http://www.equifax.com/ Dispute information in my credit report Initiate a dispute online here. For disputes by telephone, a telephone number is provided to initiate disputes on your credit report. (Must have copy of your current credit report).  Ask questions about credit reports, scores, fraud protection, and understand what it all means. Browse the Credit Education and Help sections of this site  Ask for help logging in because I forgot my password. Visit Login Help.  Order my credit report by phone You can gain instant access to your credit information by ordering online. You may also call 1-800-685-1111 to order by phone.  Place a fraud alert on my credit report Call 1-888-766-0008  Opt-out of mailing lists Call 1-888-567-8688  Mail correspondence to Equifax Equifax Credit Information Services, Inc P.O. Box 740241 Atlanta, GA 30374  ==================================== 49. What if I find an error in my credit history? Simple mistakes are easily corrected by writing to the reporting company, pointing out the error, and providing proof of the mistake. You can also request to have your own comments added to explain problems. For example, if you made a payment late due to illness, explain that for the record. Lenders are usually understanding about legitimate problems. 50. What is a credit bureau score and how do lenders use them?  A credit bureau score is a number, based upon your credit history, that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. The better the score, the better your chances are of getting a loan. Ask your lender for details. 51. How can I improve my score?  There are no easy ways to improve your credit score, but you can work to keep it acceptable by maintaining a good credit history. This means paying your bills on time and not overextending yourself by buying more than you can afford. 52. How do I choose the best loan for me?  Your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best. Do you expect your finances to changeover the next few years? Are you planning to live in this home for a long period of time? Are you comfortable with the idea of a changing mortgage payment amount? Do you wish to be free of mortgage debt as your children approach college age or as you prepare for retirement? Your lender can help you use your answers to questions such as these to decide which loan best fits your needs. 53. What is the best way to compare loan terms from lender to lender?  First, devise a checklist for the information from each lending institution. You should include the company's name and basic information, the type of mortgage, minimum down payment required, interest rate and points, closing costs, loan processing time, and whether prepayment is allowed. Speak with companies by phone or in person. Be sure to call every lender on the list the same day, as interest rates can fluctuate daily. In addition to doing your own research, your real estate agent may have access to a database of lender and mortgage options. Though your agent may primarily be affiliated with a particular lending institution, he or she may also be able to suggest a variety of different lender options to you. 54. Are there costs or fees associated with the loan origination process?   Yes. When you turn in your application, you'll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal, a copy of your credit report, and any additional charges that may be necessary. The application fee is generally non-refundable. 55. What is RESPA?   RESPA stands for Real Estate Settlement Procedures Act. It requires lenders to disclose information to potential customers throughout the mortgage process, By doing so, it protects borrowers from abuses by lending institutions. RESPA mandates that lenders fully inform borrowers about all closing costs, lender servicing and escrow account practices, and business relationships between closing service providers and other parties to the transaction. 56. What is a good faith estimate?   This is an estimate that lists all fees paid before closing, all closing costs, and any escrow costs you will encounter when purchasing a home. The lender must supply it within three days of your application so that you can make accurate judgments when shopping for a loan. 57. Besides RESPA, does a lender have additional responsibilities?   Lenders are not allowed to discriminate in any way against potential borrowers. If you believe a lender is refusing to provide his or her services to you on the basis of race, color, nationality, religion, sex, familial status, or disability, contact HUD's Off ice of Fair Housing at 1-800-669-9777 (or 1-800-927-9275 for the hearing impaired).   1  2 3 4 5  -6-  7  8 9 10 Go to Previous page       Next page