4/12/2007

Local Credit is Very Global


What constitutes news and relevant information about real estate? About you as a real estate consumer? Well, a lot of things, not just pictures of residential property. Someone was recently upset because of an article about vehicle license renewal and what may happen if you’re stopped and maybe you just haven’t paid your overdue fees yet because you thought you had until the end of the due month on your license tag, and the fact that police have immediate access via computer to see if you’ve paid your annual fees on the due date. If it went unpaid (not that we must assume the worst, but here it is), notice of that goes to the Franchise Tax Board where it would ultimately appear as a tax lien connected to you. Then think about your credit report and what gets reported on it.

Think about your credit score being a reflection of financial events connected to you. Did you know that when you apply for insurance, or a bank account, your credit report is viewed? Then think about the fact that mortgage loan underwriters also take a look at that credit report, including recent events of all kinds just before they decide to give you a loan. The workings of our bureaucratic world are very important to know about when it comes to getting a loan. That way, when you get the loan, you can get the house. You may obtain your free annual credit report at http://www.annualcreditreport.com/.

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