You could be surprised the next time you check your credit. New rules regarding civil judgements and tax liens could mean that they no longer show up on your credit report. This adjustment can affect up to 11% of consumers. The new rules require specific information about the consumer to be part of the public records data. If the information is missing, inaccurate, or not updated every 90 days, the data will be excluded from your credit report.
For those affected it could mean an increase of up to 30 points according to some sources. The first part of the changes took affect in July of 2017, and as of April 16th all three of the credit bureaus (Experian, Equifax, and TransUnion) are implementing the changes.
What is holding you back from purchasing your home? Take advantage of your free credit report from Annual Credit Report to see what is being reported on your behalf. Then talk to the Mortgage Advisors at Best Way Lending about your next steps to your home purchase, or refinance.