One of the things that’s made the 2013 Real Estate market more competitive for homebuyers, compared to recent years, is that it’s more difficult for a homebuyer to qualify for a mortgage loan. Thanks to the recent financial crisis, lenders are being very critical when assessing a homebuyers including basing their lending decisions on a buyers credit score.
The Importance Of A Credit Score
Even though most homebuyers have heard the importance of having a great credit report, a recent survey from FindLaw.com has shown that most Americans have never taken the time to see what’s in their credit reports.
Behind The Statistics
FindLaw.com surveyed 1,000 adults and 22 percent of these adults said that they’ve never checked what’s going on with their credit report while just 46 percent said that they checked their credit report in the last year.
Who Is Less Likely To Check Their Credit Score?
What’s interesting about the FindLaw.com survey is that they found that individuals who enjoy higher levels of income and also women were less likely to check their credit reports while just 25 percent of men surveyed were reported to have checked their credit reports.
Don’t Leave Financial “Skeletons” In Your Closet
Neglecting to check your credit report is like leaving financial “skeletons” lurking in your closet and it’s important to make sure that those problems are taken care of now. it is especially important if you plan on buying a home in Orange County anytime in the near future.
To get started with viewing your credit report all you need to do is go to AnnualCreditReport.com which will enable you to see what Equifax, Transunion and Experian are reporting about you on your credit files.
For more information on the importance of credit reports or to view the latest Orange County homes for sale, contact Fred Sed & Associates today at (949) 272-0125.