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Repair Your Credit The RIGHT WAY!

home loan for people with bad credit And More!

Building Better Credit And Credit Repair Newspapers, radio, TV and the Internet are filled with advertisements that offer—for a fee—to erase accurate negative information in your credit file. The scam artists who run these ads can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit record. This publication is designed to help you understand and legally improve your credit report through the right way to credit repair. This publication has five sections:

Consumer Reporting Agencies If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The most common type of CRA is the credit bureau. The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a consumer report.

he Fair Credit Reporting Act (FCRA) The FCRA is designed to promote accuracy and ensure the privacy of information used in consumer reports. Recent amendments to the Act expand your rights and place additional requirements on CRAs. Businesses that supply information about you to CRAs and those that use consumer reports also have new responsibilities under the law. Here are some questions consumers commonly ask about consumer reports and CRAs—and the answers.

 
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Real Estate Mailbag (Washington Post)
Q DEAR BOB: My brother and I bought our home in 1997. We got our original mortgage from Countrywide Mortgage for $80,000. Both our names were on the mortgage and the title, but when we refinanced Countrywide refused to keep my brother's name on the loan because of his poor credit rating. We have...

Is Your Home Your Piggy Bank? (Washington Post)
With the national savings rate abysmally low, it's no wonder so many Americans are shaking money out of their homes. Homeowners are refinancing and pulling out equity to make improvements, buy cars and pay off credit card debt.

Many Buyers Opt for Risky Mortgages (Washington Post)
More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest, delaying for years repayment of any loan principal.

Economists Wary of Interest-Only Loans (Washington Post)
More than a third of the mortgages written in the Washington area this year are a risky new kind of loan that lets borrowers pay back only the interest, delaying for years repayment of any loan principal. Economists warn that the new loans are essentially a gamble that home prices will continue to...

 

 

 

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