Your credit score is one of the main factors that impacts the rates you are offered when you apply for a mortgage. To maintain your score, you need to follow smart financial practices such as keeping current with your bills and loan repayments. But you also need to protect your identity and prevent scammers from damaging your credit score by applying for loans in your name or taking other negative actions. How can you do that? Here are several tips.
- Use an identity protection monitoring service. Sign up for an identity protection monitoring service. You can have it monitor accounts you specify. If there is a suspicious event, such as your information appearing on the dark web, the service will alert you so you can take swift action.
- Check your credit reports routinely. Regularly order your credit reports and check them for erroneous information. If you find any, contest them with the credit bureaus. You are entitled to three free credit reports every year. So, make good use of them.
- Follow personal security best practices. Follow best practices to secure your finances and data such as setting strong passwords and keeping them secret, shredding personal documents, keeping your electronic devices secure, and so on. An ounce of prevention in the privacy world is worth many pounds of cure.
Get More Tips to Protect Your Credit
To learn more about how you can safeguard your credit before you purchase a home, please contact Mike at Blue Square Mortgage at (206) 352-6453. If you are ready to buy a home or refinance, we can walk you through the process quickly and easily, including giving you last-minute advice to raise your score. We can work with you anywhere in Washington State or Colorado.
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