Rent to Own information that informs you how to get negative factors removed from your credit report

Consistency is the best indicator of improving credit. The longer you show positive history the more your credit will improve.

Time can certainly be your friend with credit...good will eventually outwiegh past mistakes. The biggest thing is not having ANY new negative history.

Don't forget that you can always access your own credit report for free once a year.

Here is how you do it:
Free E-Book : http://www.ezqualdreamhomes.com/documents/Ebook_pull_credit_report[1].pdf

Our tenant home buyers are responsible for caring for their home, making their monthly payments on time; and in return they become homeowners.

Our future home buyers reap the rewards of having this independence by making their home their own, and getting qualified down the road for a home they know that they love and want because they have been putting their time and energy into making it perfect for themselves and their family.

Rates are great right now.

Look up your credit report....if you can take advantage of the $8000 tax credit plus the awesome interest rates you need to do it now...

If you are not quite there pull your report and lets get to work!
I know I harp on this, but you really need to know how to pull your own credit report.

You will be able to pull your credit reports from all 3 major credit bureaus for free. You absolutely have to do this. The best way for you to improve your credit is for you to know how to get your reports and more importantly what they say.
Can you believe we are already wrapping up summer? We have covered a lot of stuff so far this year.

Let's review what we have covered so far this year.

From the previous newsletters; you have learned what a FICO score is and why it is so important.

The 5 most important factors that are considered in the credit score formulas are:
1. Your payment history
2. The amount of money that you owe
3. The length of time you have had credit
4. The type of credit that you have
5. How many credit Inquires

Your payment history is very important and something that you can start to change immediately. It is the one thing you want to start improving right now. Once your history improves, everything else will follow.

You want your scores to reflect a positive payment history; to show that you make your payments and you make them on time.

The next topic that was very important that we covered was the notorious credit card (always stick with visa® Mastercard® American Express® and Discovery® or get a secured card from your bank) and the concept of the "utilization rate".

Remember? I know summer is whizzing by and it you can barely remember what you did yesterday! So let me refresh your memory. This is where you ideally want to be spending less than 30% of your available credit. So, with your credit cards or lines of credit, you want to keep your utilization rate less than 30% and pay on time. Then you will see your credit scores improve as time goes on and you do this repetitively each monthly.

Then, I reviewed the types of credit cards, the how and the why you need to use them. I then discussed if your credit is being reported accurately by the credit card companies and went into depth on installment loans. If you recall installment loans are like care loans or furniture and appliance loans.

Then we dove into the harsh reality that there are likely errors on your credit report and how common it is for there to be errors on your credit reports.

The credit bureaus just report what is sent to them, it is your responsibility to ensure the information is accurate.

Removing errors from your report is a time consuming endeavor, but it can be a very effective way to improve your credit without paying out extra money.

We went over the types of errors that you might see and which things need to be addressed because they can bring your scores down.
These included: duplicates, inaccurate credit limits, accounts discharged in a BK, mistakes in payment history, errors of personal information, incorrect account numbers or delinquencies older than 7 years.

If you identify any of the above that are classified as high priority mistakes on your credit report than you want to contact the appropriate credit bureau with a form for each error. Before mailing these letters send no more than two at a time to the credit bureau that has the error.

Send the highest priority mistakes first as they will make the most difference. You want to send the letter with a copy of the document supporting your claim, like bank statements or cashed checks or credit card statements with limits.

You also want to enclose a copy of the credit bureaus mistake. NEVER send originals!! ALWAYS send copies and keep the originals for your records. Be sure and send the letters via certified mail with return receipt to verify that they received it. Retain a copy of the receipt from the post office and attach to your records for that mailing and attached the return receipt once you receive it. If for some reason you do not hear back from the credit bureau after 45 days resend everything. If another 45 days goes by and you still do not receive verification of correction or a reply getting a lawyer to draft the letter on company letter head can be more effective.

So, what if the information is correct but it is negative or bad? Well, then you need to take care of it by either working out payment plans, proving that it has been paid in full and if a judgment that is has been satisfied and released. Once you have these documents you do the same as above, send them into each of the credit bureaus.

Next month I will go into more detail on specifically addressing each of the most common and most important negative items on your credit report.

Until next month, I hope your summer is going well and you are enjoying your home. Don't forget one of the surest way to improving your credit is on time payments!