Access to Your Credit Report
As part of the loan process Creative Mortgage Solutions will acquire a report of your credit history. This information and the process of getting it is the same for all Tampa Bay residents and they are protected by the Fair Credit Reporting Act. The Fair Credit Reporting Act (FCRA) outlines specifically who can see your credit profile. This law protects consumers' rights, such as the right to review and contest information in their credit profiles. It also specifically defines who can access the information in a credit profile, and how you are notified of this activity. Businesses must have a "legitimate business need," and a "permissible purpose," as stated in the federal law to obtain your credit file. Any company that receives a copy of your credit profile will be listed under the "Inquiry" section of your report. Otherwise, only you, and only those who you give written permission, can access your credit files. Your neighbors, friends, co-workers, and even your family members cannot have access to your credit profile unless you authorize it. Some examples of those who can access your credit files are credit grantors, collection agencies, insurance companies, and employers.
Reduce your payments! -Consolidate your Debt
Unpaid or slowly paid debts can have a detrimental effect on your credit rating and therefore your ability to obtain a home loan in Tampa Bay. In some cases our mortgage specialists at Creative Mortgage Solutions recommend that borrowers consolidate or completely pay off their debt prior to applying for a Tampa Bay mortgage. Debt consolidation will lower your monthly payments and can simultaneously increase your credit rating. If you are able to pay off your debt without the assistance of consolidation, this is another great way to improve your chances of being approved for a Tampa Bay home loan. Refinancing your original Tampa Bay mortgage or obtaining a new home equity loan in Tampa Bay may also be a financially practical way to relieve the burden of high monthly payments. It is important to research all options with your Tampa Bay mortgage broker at Creative Mortgage Solutions, (813) 888-9253.
Tampa Bay Real Estate Information
At Creative Mortgage Solutions we offer real estate information in Tampa Bay and many nearby cities. Below is a brief list of some key areas where we offer our services, please browse through the information given about the areas to help guide you in finding a great location. If the area you are currently searching for is not listed below, then please contact one of our mortgage and real estate professionals today at 813.888.9253.
