There are businesses out there that promise to improve your credit score for a price. But are they doing anything for you that you can't do yourself?
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Even if you're not thinking about applying for a loan or credit card in the near future, it's always a good idea to look at your credit report and scores. You should check your personal credit report and score at least twice a year to make sure that all of your personal information is accurate.
Why It's Important:
Identity theft is a problem that is not going away any time soon. An identity thief can steal your identity and do serious damage to your credit in less time than it takes to boil water. Checking your credit report and scores regularly ensures you notice any suspicious activity right away.
How To Do It:
The Federal Trade Commission allows consumers to obtain one free credit report annually via AnnualCreditReport.com.
Under federal law, you're entitled to an additional free credit report if you are denied credit, insurance or employment and ask for your report within 60 days of receiving notice of your denial. The written notice you should receive should also list the name, address and phone number of the company to contact to obtain your report.
If you want to keep extra close tabs on your credit report and scores, a site you might want to consider is Quizzle. Quizzle has been mentioned in the Wall Street Journal, USA Today and CNN for being one of the best places to get a complete understanding of your credit. They offer a free Experian credit report, credit score and more.
How They Work:
While your credit report and scores never really "expire," your credit profile could change based on the financial decisions you make on a daily basis. One late payment or new credit account could make your credit report and scores go up or down, which is why most lenders request to pull your credit when you're applying for a loan. Your credit score has a direct impact on your ability to be approved for a loan, and each lender has its own cutoff points and underwriting guidelines.
Keeping up on your credit report and scores is more important than ever. If you want any kind of loan or if you're thinking about taking advantage of the record low mortgage rates we've been enjoying over the past year, make sure you're watching your credit closely. You'll be taking the proper measures to protect yourself from identity theft, and you'll be preparing yourself for any loans you may want to take out in the future.
Thinking of getting a pet in the new year? Here are three things to consider when budgeting for a pet.
1. Routine Vet Care
2. Emergency Care
3. Optional Costs
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Slightly over half of all homeowners say their homes are worth more today than they were when they bought them, according to a new national survey conducted just before Christmas.
Most homeowners are confident they know what their home is worth, and a greater number than ever, some 29 percent, believe that they have lost value since they bought it.
An earlier Rasmussen national telephone survey conducted in early November found that just 12 percent of U.S. homeowners now expect the value of their home to go up in 2012.
The latest Rasmussen Reports national telephone survey also found that homeowners are growing increasingly pessimistic about their home equity position. The survey found that just 44 percent of homeowners believe their home is worth more than the amount they still owe on their mortgage, a decrease from 50 percent of owners in April who believed their home is worth more than the mortgage.
The survey of 690 U.S. Homeowners was conducted December 19th & 20th, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.
Are you a homeowner? If so, do you think your home is worth more than when you bought it? We'd love to hear how you feel about your home's value. Leave us a comment by clicking the comment link below. Your email address will never be shared on this site.
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