It’s April, Have You Checked Your Credit Report?

I have decided to write a bit on this subject for a number of reasons, the first being that credit fraud and identify theft is on the rise. This means it is your responsiblity to keep yourself safe. I would also suggest you periodically check your credit report to make sure there isn’t anything on there that shouldn’t be there. Do this before you begin a home buying process, in fact the worst time to find out there is something wrong with your credit report and then try to fix it – is while applying for financing on a major purchase.

Most people are not aware that in December 2003, Congress enacted and President Bush signed comprehensive legislation, the Fair and Accurate Credit Transactions Act (FACTA). This act updates the 1970 Fair Credit Reporting Act. Many of the law’s remaining new consumer protections took effect 1 December 2004 – just a few months ago.

One of the most important features of this Act is the right to obtain a free credit report every twelve months on request from any national credit bureau (Experian, Equifax and Trans Union). Starting on 1 December 2004, consumers in the West gain this right, eligibility then rolls eastward every 3 months. Remember, this is not an annual right– it is an “every twelve months” right. If you get a free report in March 2005, you are eligible for another beginning in March 2006. However, you can not get a free report in November 2005 and another one in March 2006.

Visit for the national free report eligibility schedule. Write to me if you have any questions, and remember to visit for all your home financing needs.

This site is for informational purposes only. It is not sponsored or in any way affiliated with the government. If you are in need of a mortgage loan, consult with a licensed mortgage professional. All fair housing and equal housing opportunity laws apply when applying for a mortgage or buying a home. Copyright 2012.