Top 10 Credit Don'ts When Buying a Home

Oh, the perplexing world of credit. I must confess that there are times that the rules of what raises and lowers your credit score baffles me. The one thing I am certain of is that you should guard your credit score with righteous fervor, at least until you win the lottery and can afford to buy everything with cash. Your credit is part of your buying power. This active guardianship is even more important once you are in the process of buying a home.

Leading nationwide credit expert and President of Credit Resource Corporation, Linda Ferrari, developed the top 10 credit "don'ts" during the loan process, to help you get your arms around those things that can unknowingly wreak havoc on your loan transaction.

1. Don't do anything that will cause a red flag to be raised by the scoring system
2. Don't apply for new credit of any kind
3. Don't pay off collections or charge offs
4. Don't max out or over charge on your credit card accounts
5. Don't consolidate your debt onto 1 or 2 credit cards
6. Don't close credit card accounts
7. Don't pay late
8. Don't allow any accounts to run past due-even one day!
9. Don't dispute anything on your credit report
10. Don't lose contact with your mortgage and real estate professionals

Michael Johnson, Metro Charleston SC
Carolina One Real Estate

Michael Johnson, Metro Charleston SC: Real Estate Agent in Goose Creek, SC

Office: (843) 574-3188

Mobile: (843) 817-5299

It is my job to stay educated and informed so I can best serve you, my customers and clients. Let me help you through the confusing waters of real estate. "Providing the Light to Guide You Home!"