Know Your Credit Report
Our financial reputation can be summed up in two words, Credit Report. This report can mean the difference between having your loan application or line of credit accepted and having it rejected. Your report can even affect the interest rate you get on a loan. Keeping an eye on your credit is more important than ever in today’s economic times. Banks, Credit Unions and other financial institutions use credit scores to analyze the creditworthiness of any person. Mortgage adviser, Todd Newman from Coldwell Banker Home Loans said there is more to a credit report than just you credit score. The lender also looks at your activity, such as the utilization of your credit. He stresses the importance of speaking with a Mortgage lender very early on in the process so they can give you the proper information based on your report and expectations.
According to The Fair Credit Reporting Act, everyone is entitled to receive one free credit report from each of the three major reporting companies which are Equifax, Experian and TransUnion.To obtain your free credit report, you can go to https://www.annualcreditreport.com/. The most commonly used credit score model is the FICO score. The FICO score ranges from 300 to 850. The higher the score, the more credit worthy you are considered in terms of lending. For a great reference, go to www.Myfico.com. You can download a free E-book on understanding your FICO Score.
Rockland County Housing Statistics(Activity last 30 days source MLS)
Total Inventory 1130 373
Under Contract 123 46
Title Transfer 139 34
Hello my name is Michael Rizzuto and I’m a licensed real estate agent with Coldwell Banker- Regional Sales Office in New City, NY. This column will list the open houses for the upcoming weekend and give the current housing market statistics for Rockland County. If you have any real estate questions, please feel free to Email me at: Michael.Rizzuto@cbmoves.com