Solid Source Family First Realty

Our Partners VR-Tech and United Credit Education Services conducted an awesome and informative workshop on Saturday afternoon. It was fun filed hour- power credit education workshop to inform the consumers on the 10 Greatest Myths about Your Credit.

We are now able to apply the knowledge of The Fair Credit Reporting Act of 1971. Consumers if the FCRA of 1971 is incorrectly applied or unfairly used against you, it could cost you the opportunity to purchase your home and or receive ridiculous rates on your mortgage, auto, and credit card loans. It could cause you to pay higher insurance premiums or your Home Owners Insurance could be declined. The majority of Employers are now requiring a credit check before the give you a formal offer for a position with their company. The credit market is changing and the ratings are getting tighter, therefore, your credit rating is very important.

Millions of Home Buyers are not informed of the positive impact this Law should have on their credit rating. Instead Home Buyers accept what the Credit Agencies give them as credit rating and most of the time they are using unfair practices to receive that rating.

I have been in the business for over 20 years and some of the information that was given on Saturday I heard for the first time. I cringed at the thought of how many customers are turned down for home ownership or if given the opportunity to own a home the have taken a higher cost loan and higher interest rate.

Myth #1
Credit agencies are empowered with some kind of governmental authority.
Truth #1
Credit Agencies have no legal authority at all . They are simply private companies who are in the business of selling credit information.

Spread the news and I hope to see you at the next workshop!

The N-Sourcer