New Rules on how Credit Impacts You

May 29th, 2018
  • On the 8th of June, there will be changes on how your credit is reported. These include: • Collections that aren’t at least 180 days old will be rejected by the 3 major credit bureaus. You will now have time to pay them off before it is even reported. • Medical collections will no longer show on credit reports as long as it is being paid (through either you or insurance) • Collection accounts that have not been updated in six months or more will not be factored into scores. • Any collection that did not result from a contract or agreement to pay by the consumer, will be removed. This means that now is the perfect time to speak with a loan professional about how this will impact your ability to buy a home. WHAT DOES THIS MEAN FOR YOU?
These changes must be implemented by June 8th 2018. This means that now is the perfect time to speak with a loan professional a bout how this will impact your ability to buy a home. Contact me today to find out how these changes affect you. Call RJ Laffins @ (530) 924-4432 for more info text RJ @ (530) 321-9519 email RJ.Laffins@summitfunding.net or Apply Now at: Chico Home Loans



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