Many borrowers mistakenly assume that a poor credit score will keep them from getting a loan. At American Home Funding, we recognize that you are more than your credit rating. We have solutions that take other factors into account and give you the chance to rebuild your credit and move on with your life. A past bankruptcy should not prevent you from obtaining financing as long as that bankruptcy is at least a year, preferably two or more years, in the past. If you are ready to talk, call our offices today and ask for a loan professional.

If you want to take a little time to better understand your credit problems, we suggest the following:

First, know what your Credit Reports say about you. The Fair Credit Reporting Act guarantees individuals access to a free credit report from each of the three nationwide reporting agencies ­ Experian, Equifax, and TransUnion ­ every 12 months. You are also entitled to a free report if you are refused credit, are currently unemployed and looking for a job, or are a victim of identity theft.

The U.S. Federal Trade Commission authorized source to request your free report is AnnualCreditReport.com, or call 1-877-322-8228, or fill out the Annual Credit Report Request form and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Be wary of ordering free reports from other sources. Because you are supplying your social security number and personal data with the request you don't want to take chances. You also don't want to end up with charges for services or information. The credit reports must be provided FREE from the major reporting agencies. That doesn't mean they won't try to sell you on credit monitoring services, credit scores, etc., but you don't need to pay anything to access your reports once a year.

Second, challenge inaccurate information on your credit report. Once placed on notice that you dispute the report, the credit reporting bureau must verify the facts within a reasonable period of time or delete that information from the report. If the dispute is not resolved to your satisfaction, you are allowed to have a statement (up to one hundred words) included in your file and in any future reports.

• Pay your bills on time.
• Keep balances low on credit cards.
• Limit your credit accounts to what you really need. Accounts that are no longer needed should be formally cancelled since zero balance accounts can still count against you.
• Check that your credit report information is accurate.
• Be conservative in applying for credit and make sure that your credit is only checked when necessary.

With bad credit, you need to research carefully any companies you consider using for mortgage financing or other loans. There are companies that take advantage of individuals with damaged credit whether through excessive interest rates or outright scams. You don’t want to make a bad situation worse by dealing with the wrong company.