Ryan’s Mortgage Blog:
I can’t stress enough to check your credit BEFORE you start looking for a house or apply for a refinance. Any problems with your credit takes time to fix. Now I had to go back and rewrite this blog from here on out. I was going to recommend using www.freecreditreport.com and I tested it out and everything before hand so I could tell you all about it. The report came out great and it was free, and the blog was all finished, but then I got an email from them and in the small print it said I was automatically enrolled in a Triple Advantage Credit Monitoring system and I would be charged once the free membership runs out. I went back through there site and did see this in the small print, and when registering I even looked for something like this, and didn’t see it. So after spending 30 minutes trying to figure out how I could cancel this…I end up finding out you have to call them and go through a 10 minute conversation with a sales person on why you want to cancel the service. So if you’re willing to do all that, then this report isn’t half bad.
You can also get your free annual report (based on that law passed a couple years ago) at http://www.annualcreditreport.com/. For your benefit, I tested this out as well. The report wasn’t as detailed and I didn’t even really find my score as I did on the other one. I was just able to see what accounts I had open and if I had any delinquent (which is important in finding discrepancies). You have to view each of the 3 main credit agency reports separately. I don’t know if it was my browser or what, but I could not get Equifax’s report to open for me, I kept getting a Home Depot ad instead. But I was able to get the other two reports (Transunion and Experian). You need to be very careful and read everything because they try and get you to sign up for other stuff. I was able to see what marketing companies had pulled my information recently, which was interesting, but luckily that stuff doesn’t affect your score either.
The good thing about these sites is that checking your own credit “should” not affect your score. I say “should” because they claim it won’t, but I don’t want to be responsible in case it does. I just know credit scores are touchy and they go down slightly if a creditor like Ford checks your credit. You should be fine checking your own score though, I just wanted to put a “disclaimer”.
If you have any questions regarding your credit score or report, feel free to ask me. I can be reached at RBaker@PeregrineLending.com or 805-540-0866.