Selling Savannah Homes

I’m going to get on my soapbox.

All the lowering of interest rates in the world will barely stimulate our economy, if at all!  There are plenty of people that want to purchase a home.  Enough, in fact, that if everyone that wanted to buy a house and had a job COULD, we wouldn’t need ANY other Government stimulus, whatsoever.

But, a major part of borrowers’ ability to purchase a home hinges on credit reporting agencies.  Consumers are at the mercy of three separate credit reporting agencies.  The consumer has NO control over who inquires into their credit or how many times a company can run a credit check.  The number of inquiries on your credit report can and DOES lower your credit score.

The latest scheme that can REALLY mess up your credit score is when credit card companies or department stores lower your credit limits to just what you owe on your balance, When they do that, you have maxed out on your account, thus lowering your credit score.

Since these reporting companies have little, or no, accountability to the consumer, whose credit information they SELL or anyone else for that matter, consumers and homebuyers can get stuck in a never ending battle to either correct or prevent these problems.

I’ve called and written letters to my state and Federal legislators.  You should inform yourself and do the same.  This is a vital first step in our credit recovery as I see it!!!!  Speak up while our voice is still heard!!