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If there is one thing that I try convince my friends to do, is sign up for credit monitoring. Its inexpensive, it gives you great insight into your finances, and keeps you safe from identity theft. And whether you ever get kidnaped by a wierd credit worshiping cult, who gives you only one question for you freedom “What is your credit score”. You will be released. Really what more can you ask for?

Many of my friends are getting to the point where they are buying there first homes. At it still amazes me how many of them have no clue what thier credit looks like. It is just a big mystery that is left to that of bankers, on mortagage brokers. They can spend hours with realators, contractors, etc checking out a potential home, but the one thing they can know to save the thousands of dollars by the course

of the loan they have no notion. Knowing before you go for a loan what your credit score is invaluable. It will tell you what rate your going to get, and with that knowledge how much house you can afford. And whether your credit score is low, next you can take a few months to fix it soon after shop for a house.

My friends are not to blame for the lack of credit awarness. It is hard to find data regarding your credit, and many folks still do not understand it completely. Just like anything though, read lots of articles, order your credit reports, and stay on top of your credit purchases and credit wont be as much of a mystery.

Check out the articles on Credit Report Coach for more indepth infromation on home buying and credit.

Orginal post by Ken

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