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Credit Card Thefts: One More Reason to Monitor Credit ( first-time buy

Credit Card Thefts: One More Reason to Monitor Credit ( First-time Buyers )

credit card first-time buyersIt can take years for Palm Beach County first-time buyers to save up for their first home’s down payment, but even after that hurdle has been cleared, it can take even more time to secure a mortgage -- if they have neglected the other part of the equation. Their credit rating.

Before first-time buyers in West Palm Beach will be able to move forward with that initial home purchase, they need to ensure that their credit score does not raise the kind of questions that sometimes derails an otherwise well-qualified home loan applicant. This has always been true, but may become even more likely as lending limitations grow increasingly strict.

But it’s the occasional recording error or misstatement that is most easily preventable. Ironically, those often affect perfectly well-qualified buyers—precisely because they have no reason to suspect that a problem could crop up.

The upshot: Palm Beach County first time buyers should start reviewing their credit history one year to six months before they intend to buy a home. Since the credit agencies provide upon request free copies of every individual’s report once each year, the only hassle is having to check the details line-by-line (a single reporting error can have a big impact on an overall score). And since it’s not unusual to take 90 days or more to cure a disputed entry, the earlier a first-time buyer begins the process, the better. Individuals can file a dispute online with the credit bureaus, or can hire a credit repair company to assist with disputes. In all cases, claims should be documented and correct information provided immediately.

Once a Palm Beach County first-time buyer is certain that his or her reports are accurate, is it time to relax? Hardly. It’s important to continue to monitor those scores to ensure against accidental surprises. Especially recently, after wholesale credit card thefts sowed confusion and disruption throughout the system, it’s probably wise to assume nothing. Several online services offer credit monitoring (and it’s possible that your bank might provide free monitoring).

From first-time buyers to seasoned investors, I’m here to help my clients every step of the way. Call me today!

 

     

 

Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

ChristianPenner.com
http://www.christianpenner.com/credit-card-thefts-one-more-reason-to-monitor-credit/
Credit Card Thefts: One More Reason to Monitor Credi ( first-time buyers )


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blackwhite#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and #Tequesta. #Christian Penner Mortgage Broker Jupiter has the #lowest mortgage rates and the best #home mortgage programs like; #Jumbo loans, #FHA Home Loans, #VA Home Loans, #Reverse Mortgage Home Loans, #Freddie Mac Home Loans, #Fannie Mae Home Loans and #HARP Mortgage Loans. #Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his #Home Loan Lending Needs and Works with #FEMBI Mortgage in Jupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

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ChristianPenner.com
http://www.christianpenner.com/credit-card-thefts-one-more-reason-to-monitor-credit/
Credit Card Thefts: One More Reason to Monitor Credi ( first-time buyers )