Credit Scores Are Just a High Score Game… Until You Need a Mortgage
I’m not a big fan of debt.
I do have a small mortgage. That’s it.
So my credit score doesn’t really mean much to me.
RANT WARNING!!
Credit scores are a scam to get you to borrow more money to increase your score.
To pay it all on time. Or not and pay the price.
So you can borrow more money and increase your score even more.
What’s the point? To chase a bigger number?
Like a high score on Ms. Pac-Man?
However, if you do borrow money.
Like a mortgage for instance.
Check your credit reports often.
The results will be a “do or die”event for you.
We’ve had many clients who never checked their score, we put a home under contract for them, and their lender comes back with a “holy crap” moment.
They can’t buy the house.
Sometimes, it’s just a mistake by the reporting agencies.
Which takes time to fix.
Time a home Seller won’t likely agree to.
By law you are entitled to 1 FREE credit report from each of the 3 credit bureaus once a year.
And only by going to ANNUAL CREDIT REPORT (dot) COM.
It’s the only approved portal for this.
I recommend you stagger them so you get 1 free report every 4 months from each of the 3 bureaus.
Dissect it, make notes and contact them with any corrections.
By law they have 30 days or less to remedy.
👉🏼👉🏼 💸 Do you work hard as hell to simply pay the bills? And have little to show for it except being able to pay rent/mortgage, buy overpriced gas and food, with nothing left? Not even the ability to sit down for a movie and some popcorn without going into debt.
You are absolutely not alone!
Saving, investing, and building wealth is a way of life. The daily, monthly and annual decisions we make are everything toward our ability to retire, and retire early. This is what we talk about weekly on Working Wealth & Legacy Show.
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Jay Lieberman
Adoring Parent, Attorney, Radio Host, Realtor CA Lic #01874717 | NC Lic#341300
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