Check Your Credit Report

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Real Estate

Check Your Credit Report

Credit card companies and lenders rely on credit scores, which determine someone’s chances to borrow money — and how favorable the terms will be.

Check your own score yearly by ordering reports from the three major credit scoring companies: Equifax (, Experian (, and TransUnion (

Notify the credit bureau of inaccuracies. Close accounts not in use. Request that late payments older than seven years be removed. Verify and update accounts and account numbers. Verify address and Social Security number.

How to Improve Your Score: Pay your bills on time. Reduce outstanding debt. Build up your savings. Don’t fall for illegal schemes that help you create a new credit identity.

I personally did this many years ago before buying my own home.  I was starting over as a divorced mom and my credit needed a boost.  

I did the following and it worked for me:

1. Obtained credit report from all three reporting agencies

2. Highlighted off any derogatory items and called creditors to find out what to do.  I highly recommend not "charging off" debt as it will work against you.  If you can work out a payment plan and keep your word on payments it greatly helps.  

3. Pay down credit cards so they are not with high balances close to credit limit

4. Paid all my bills on time with online bill pay (bank) 

5. Tighten up your wallet and see what you can items you can save on.  

6. Set financial goals for saving.  Possible work extra hours to save more towards your future home.

7. Call me (860) 585-9381 (Pamela Dostilio, Coldwell Banker Realty) if you need mortgage lenders names and info to see where you stand with getting preapproved.