Anyone who has ever had a bank account, mortgage, credit card, car loan, or account with a retail store will invariably have a credit rating. Most information in your credit rating comes from companies you have credit with, as well as from certain public records such as tax liens, bankruptcies, judgments and lawsuits. It is important to know and understand your credit rating, how the information is compiled, and how it affects your ability to acquire a loan for your new home.Credit reports are usually divided into five sections:1. Your credit history.2. Who has reviewed your credit history.3. Information you have provided for the credit company.4. Specific identification information about you.5. Explanatory notes and comments.Different states have different requirements and it is import...
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