mortgage loans explainedSurprise, surprise! You’re ready to get a mortgage loan for your new Atlanta real estate, and your lender finds a problem on your credit report. Fortunately, the experts at the

    Equifax Personal Finance Blog have some words of advice.

    In the Equifax article, “

    How to Find and Dispute Credit Report Errors,” the experts begin by reminding you of the basics. If you’re turned down for a loan for new home, you can’t get your credit limit increased or even if you’re denied insurance, you can – and should – get a free copy of your credit report within 60 days. You may also request a free copy if you’ve placed a fraud alert on your accounts or if you haven’t requested your free report within the past year. (Visit www.AnnualCreditReport.com for your free annual copies from each of the three credit reporting agencies.)

    Once you receive your copy of the report, review it to make sure your personal information is correct, then verify your account information. You’ll definitely want to pay attention to your payment history and also to dates accounts were opened, activity on accounts you’re not currently using, and inquiries on your account that you didn’t initiate. If you’ve had negative information that should have cycled off, make sure it’s really gone.

    If you find inaccurate information, you should double check your reports from the other two agencies to see if they contain the same errors. Notify any of the agencies that carry the inaccuracies. By law, they have up to 45 days to respond. During that time, the credit reporting agencies will contact the creditor that supplied the information on your report. You may also want to contact the creditor directly.

    Ideally, your credit report will be cleared quickly and without incident. But just in case, you may want to get a head start by checking your credit report early in your home buying process. You’ll find more detailed information and links to all the sites you’ll need at the

    Equifax Personal Finance Blog.

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