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Mortgage Basics

How to Improve Your Credit: If you have had credit problems, be prepared to discuss them honestly with a mortgage professional.

Your Credit Report: Understand how a mortgage company views your credit information.

Credit Scoring and How It Works: Credit scoring, also known as FICO scoring, is a statistical method of assessing the credit risk of a loan applicant.

Credit Profile: A credit profile details your credit history as it has been reported to the credit reporting agencies by lenders who have extended credit to you.

Credit Reporting Agencies: This article includes address, phone and web site information for each credit repository.

Credit Grade: Mortgage companies often grade your loan based on certain credit related items such as payment history, amount of debt payments, bankruptcies, equity position and your credit score.

Other Credit Factors: Mortgage companies look at other information besides your credit score and credit profile before deciding whether to approve your mortgage.

Know the Score About Your Credit Rating: Learn about the importance of keeping tabs on your credit rating.

Credit Inquiries: The Fair Credit Reporting Act (FCRA) outlines specifically who can see your credit profile.

How to Fix Credit Report Errors: You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file.

Steps to Take After Being Denied a Loan: It’s never fun to be turned down for a loan, but before you think you won’t be able to get credit anywhere, there are some steps you can take.

Establish a Credit History: What to do to increase your chances of being approved for a mortgage.

How to Prevent Identity Theft: According to one non-profit debt counseling agency, some 40,000 consumers each year are victims of this crime, which is a serious type of fraud.