4 Ways To Get Your Free Credit Report

My family and friends have asked me many times on how I get my credit report for free. Well, I would like to address that today and if you have the same question and don't know how to get it well here are some ways to go about obtaining your free credit report.

Under the Fair Credit Reporting Act (FCRA), it requires all three major reporting agencies-Equifax, Experian, TransUnion, to provide you with a free copy of your credit report, at your request, once every 12 months. With that, the agencies have set up a central website that will enable you to get your free report from all 3 of them. It's AnnualCreditReport.com

Downside to this is that you get it free once a year, after that any additional reports, you would have to pay. But it's always important to keep an eye on your report every so often for accuracy and completeness and so getting your report a few times a year may be an option. After all, with credit purchases, identity thefts, fraud, late payments, etc. you want to make sure you stay clear of these situations.

If mistakes happen by any means and you screw up your credit report, you need to know these things and fix them right away, because if not, it could lead to much hardship and financial stress. And BELIEVE me when I say it does. If you are in a rut, go to Restore my Credit Report and Free Legal Matches. Here is where I found help with my situation and had free consultation with an attorney.

Another way of getting your credit report is to just phone the 3 major reporting agencies and order it. Again you are only allowed one free copy a year. Here are the numbers you need.

*Equifax: 800-685-1111; Fraud Dept. 800-525-6285
*Experian: 888-397-3742 (Same for Fraud Dept.)
*TransUnion: 800-916-8800; Fraud Dept. 800-680-7289

If you are denied credit or anything due to something on your credit report, you will be sent a notice of which credit bureau supplied the report, then you will have 60 days to request a free copy of your credit report from them. This is another way to keep tabs on your report.

Lastly and this is something I often use is the use of free trials from different companies online. It's a bit sneaky but hey, they offered it in hopes you will order something. The key to this is finding a trusted company and always remember to cancel before the trial date. Simple! Be aware of imitators. You don't want to be giving important information to wrong people. Now go get your free credit report instantly.

So there you have it. Your credit is an important thing and taking action now with the right people will increase your chances of having a better credit history in the future.

5 Tips You Must Know To Get The Best Mortgage Deal

Are you getting the best deal from your mortgage broker? Try investigating on it.

Your mortgage broker could be getting a fat check by a lender to sell you a loan. Although controversial, this is perfectly legal. The one thing consumers need to understand is that a broker is not always looking out for your best interests.

You need to be aware always, despite what the broker may say about getting the best loan for you. Mortgage brokers could get paid two ways. A fee from you and they can also collect a percentage from a lender based on the loan rate. Higher the rate the more they make.

However, don’t despair. There are ways to make certain that you’re getting the best deal from your mortgage broker.

1. Do your homework

This is probably one of the most important tips in obtaining the perfect mortgage deal. Shop around. Some mortgage rates and fees are negotiable so don’t jump at the first deal you hear.
Check with many different types of lenders and keep your options open. Also, consumers should be careful that their broker is offering a nontraditional loan that doesn’t require full documentation of income and assets.

These types of mortgages almost always have high interest rates, and the consumer should be very sure it is the right one for them.

If at all possible to document your income and assets, it’s always worth doing that and getting a more favorable deal.

Don’t rely solely on your broker. An inexperienced one may not explain these types of deals very well. It is always important to understand all fees and interest rates associated with a loan.

2. Bring a buddy

If you’re not an expert at real estate, find help from someone you know and trust. The key is to get someone who isn’t getting compensated. Find people like your friends and family with the professional skills or at least experience in this field or you can turn to a homeownership counselor.

When all is said and done, you should not depend on brokers to find the best loan to take. You should turn to experienced professionals who can steer you in the right direction and give you informed advice.

3. Never be shy

Experts say it is important to ask questions. You need to know everything that comes with the loan, whether it is a fixed or adjustable interest rate, if it includes a balloon payment and how soon you can get an interest rate adjustment.

These are areas you need to understand before signing, otherwise you could end up in a mortgage that is not suitable with your budget and can lead to a payment disaster.
Also, very important, is to be aware of terms such as “no cost” and “no fees.”

In any event, you should always be comfortable and understand the terms to the best you can before you sign.

4. Don't sign under pressure

Always remember you are in control of choosing the best mortgage for yourself. Take a deep breath and don’t stress. Brokers may use various tactics to press the situation for you to sign a contract, but that is a sign of a broker you need to stay away from.

You are the one paying and you shouldn’t sign the papers and leave before you understand everything. When a purchase is hanging, you still have the option of walking away if you feel it is not right.

It is easy to be intimidating at the closing of a deal. With the many pages of loan documents to review and some of the language being unheard of, you are bound to get scared and confused. Don’t be.

And most importantly, NEVER and I mean never sign a contract you don’t understand just to get the process over with. Don’t let fear get the better of you when it comes down to choosing a loan.

5. Know your credit score

Before going into any negotiation, you need to look at your credit score. Knowing your credit score, you have a better judgment in researching loans ahead of time and finding out what sort of rates you can qualify for. If you don't know your score I suggest you get your free credit score.

However, sometimes credit scores can be wrong. If you see problems with your credit report, you need to get that resolved right away. Make the adjustments so that you will feel at peace when making your loan decisions.

3 Critical Factors To The Best Mortgage Deals

Not only do you have to understand what type of mortgage you should choose, you have to understand the costs associated with your mortgage. All of these costs will be paid upon closing your mortgage.

Purchase Points
Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower your interest rate over the life of the loan. Each point is equal to one percent of your total loan amount. If you have a $100,000 loan, one point would equal $1,000. The more points you buy, the lower your interest rate, but the more money you'll need at closing.

How do you decide whether you should buy points and if so, how many? Well, the decision should be based on how long you plan on living in your home and what you can afford to pay each month toward your mortgage. If you plan on living in your home for more than five years, it's probably a good idea to purchase points. The longer you live in your home, the more you can save on interest over the life of the loan.

Interest Rate
When you get a mortgage, you are charged an interest rate.this is the rate which the lender charges you for using their money to buy a home. It determines how much your monthly payments will be. Generally speaking, the higher the interest rate, the higher your monthly payment.

Mortgage interest rates change constantly.daily, even hourly. If you speak to a lender and are quoted a specific interest rate, that's not to say you'll necessarily get that rate when you close on your loan. Not unless you formally lock-in that rate with the lender.locking in an interest rate will guarantee you get your loan with a particular interest rate. Lenders will allow you to lock in for 15, 45 or 60 days. But the longer you lock in, the more expensive it will be, since it's more of a risk to lenders.

Fees
There are always fees associated with getting a mortgage, these fees cover the cost of processing and underwriting the loan. These fees can include charges for ensuring the title to the home is free and clear; paying for a land survey; or paying for a home appraisal which gives you the estimated value of the property (lenders require an appraisal to close on your mortgage).
Deciding which mortgage to get may depend on what each lender does because different lenders may charge different amounts. Some may charge lesser closing fees to lure you in, but may charge you a higher interest rate, which means you may pay more in the long run. But everyone has different needs.you may or may not be able to afford to pay more at closing and are willing to pay more over the long term.

Before it comes time to close, do your homework, make sure there are no hidden fees, and ask your lender lots of questions so that you understand all the costs involved with your mortgage.

*Please consult your tax advisor.

Source: http://realestate.yahoo.com