Suggestions To Fix Your Credit Report Problems

Last time we talked about a few situations that could cause problems for you on your credit report

Today we will suggest some solutions to these potential problems

Credit report inquiries can be addressed easily with a letter explaining each inquiry and whether or not new credit was obtained. If no new credit was obtained that written explanation should clear up any questions. However if additional credit was obtained after the inquiryv then that new debt needs to be disclosed and factored into the debt to income ratio

Cosigned college loans can be easily addressed by showing that the individual and not you has made the payments on their own for the past 12 months.

If you find something on your credit report with which you disagree…file a dispute and get that dispute resolved before it can impact your loan approval.

Lastly “charge offs” often are treated as a “collection” item and must be paid off or resolved before your mortgage can be approved. “Charge offs” do not automatically relieve you of the remaining balance due

THESE POTENTIAL STUMBLING BLOCKS CAN BE ADDRESSED AND CORRECTED EARLY ON IN YOUR LOAN APPROVAL PROCESS ELIMINATING FUTURE DELAYS