Here's another great way to protect yourself from the current meltdown in the housing market. If you own a home and have an adjustable rate mortgage (ARM) set to adjust higher you need to:
- Know your credit score.
- Know the contents of your credit report.
- Clean up your credit report and remove inaccuracies to maximize your credit score.
With the recent changes to the housing market the lenders have made changes to underwriting guidelines. Underwriting guidelines are based on your credit. When underwriting guidelines get more stringent it is the people with the better credit that continue to qualify for good home loans.
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