Delray Beach, FL (PRWEB) July 13, 2010
NationalCreditReport.com, a leader in credit report, credit score and credit monitoring services, reminds consumers that a positive credit history can help secure rental housing and good loans, but credit report damage as a result of foreclosure can affect your long term credit score.
"Consumers may not realize how much their housing and their credit reports are dependent upon each other," said Samuel S. Ambrose, Vice President of Marketing and Operations of NationalCreditReport.com. "A potential landlord's credit report check when you are applying for a new apartment and a foreclosure's affect on your credit score can have a significant impact on your ability to find housing."
For a renter, credit report damage can affect whether you obtain a rental property. The potential landlord will do a credit report check, with your approval, to assess how you handle your finances. The landlord may view a stable credit history as an indication that you will be a reliable renter. Additionally, a landlord's credit report check will confirm that the past addresses you listed on your rental application are accurate.
For consumers purchasing a home, your credit history is evaluated by lenders when determining whether to extend a mortgage to you. Individuals with a good credit history resulting in a higher credit score are often issued better interest rates and more attractive loans.
Conversely, your credit can be negatively affected by your home as well. A foreclosure's affect on your credit score can cause credit report damage even if you start out with a high score. A foreclosure can stay on your credit report for up to seven years.
"Knowing what we know about landlords checking your credit, a negative mark on your credit report like a foreclosure can begin a vicious cycle when trying to rebound from the foreclosure and find good housing," said Ambrose.
At the company's website, consumers can sign-up for a free credit score which includes one credit report and a free, seven-day trial of its Triple Safeguard Credit Monitoring™ service. The company also offers consumers the opportunity to purchase their credit report and score for one low price with "no strings attached." Interested customers can buy their credit report and score without being enrolled in a credit monitoring service.
Since 2004, NationalCreditReport.com has specialized in providing credit information and credit monitoring services to consumers to help them understand their credit report and score. NationalCreditReport.com encourages consumers to check their credit report on a regular basis.
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