Don't Let A Credit Dispute Blow Your Mortgage

MoneyTips

“Always check your credit report for errors, and dispute any errors as soon as possible.” We normally give this advice, but there are a few exceptions to this rule – including when you are preparing to apply for a mortgage loan.

Errors in credit reports should generally be disputed because of the potentially detrimental effects on your credit score. Matt Schulz, Senior Industry Analyst at CreditCards.com, puts it this way: “The thing about a credit score is it’s not really important every single day, but when it’s important, it’s really important.”

Mortgage loans are one of those important occasions where a high credit score is essential – you want your credit score to be as high as possible in order to qualify for the best interest rates and save thousands of dollars over the life of a loan. Unfortunately, if a loan officer sees that items on your credit report are …

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