New Rules on how Credit Impacts You

  • 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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