Recent reports by the FTC are finding that between 10 and 21% of consumers have inaccuracies in their credit reports costing them higher interest rates for any purchases that need credit! That could be 42 Million people!  A recent 60 Minutes program brought this to light last Sunday and here is an article from Business Insider that discusses the specifics.

One of the most important issues that came to light is that it is difficult to dispute errors on your report and it is a lengthy process. Be sure and check your free credit report from all three credit agencies at annualcreditreport.com.. If you find an error, take action to remedy the mistake as soon as you can and have patience.

If you’re purchasing a home in the Mt. Hood area this could impact your monthly payment substantially. With the new CFPB Consumer Finance Protection Bureau rolling out their guides for low risk mortgages your credit score will become even more critical in getting the best interest rate for your purchase.