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Reader’s Question:

My home creditor in Thornton Colorado CO kept asking about my credit report. I must admit they’re not in the best shape but what does it have to do with my home loan? A shirt is not the same as a house, man!

Brendan

Thornton, CO

Hello, Brendan!

That is definitely true, my friend – a house is not a shirt and a shirt is not a house. But the person who wears and lives in them will be the same person and will probably behave and maintain the two items the same way. If his clothing is sloppy he’s house is probably unkempt. This is the rule of thumb that is followed by many insurers and creditors in Thornton Colorado CO and in fact in many other places in the country, if not the world over. Remember that both creditors – your credit card company and home loan company – don’t really know you and will only evaluate you based on the limited information they have. This limited information will now be contrasted against the many statistics and profiles that they have and from this they will try to come up with your character profile. Over the years, they have gathered enough cases to support the notion that bad creditors (credit card holders) will most probably have a hard time keeping up with other loans too. And remember that creditors will always err in favor of being safe.

What you should do, Brendan, is find a way to fix your bad credit for you to have higher chances of having your home loan approved. There are many offices in Thornton Colorado CO who will be willing to help you. Remember though that you have to fulfill the conditions otherwise you run the risk of even worsening your credit report.

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