In a recent study, 19 percent of American consumers who reported finding an error in their credit reports opted not to dispute the error, even when they were offered $5 to file the dispute! Why not? Well, some said they thought the error was too minor to impact their score, while others said the dispute process seemed too difficult to tackle.
The fact is, when you’re trying to qualify for a home loan, some of the items on your credit report that can pose a threat to your home finance plans might surprise you. Tara-Nicholle Nelson of Ask Tara @Trulia provides 5 surprising credit report entries you absolutely must fix, especially when you are in the process of buying or refinancing a home.
1. Account balances you recently paid down or off.
2. Incorrect former addresses.
3. Bills that were never yours in the first place.
4. Limits listed as lower than they really are.
5. Derogatory items that should have aged off.
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