Dear Mr. Azrael:
I just got my credit report back and I owe very, very little, but I'm having a hard time trying to contact these people that I do owe. I want to buy a home for me and my three children.
Felicia Hayman, Columbia
Dear Ms. Hayman:
You're having a hard time contacting your creditors to pay them? Very few folks have had this problem. Most times, creditors send bills. When they're not paid, they follow with collection letters.
So, creditors are real easy to find.
I'm sure a mortgage lender or mortgage broker can review your credit report and help you locate the addresses of people to whom you owe money. These professionals often can assist in guiding you through the process to qualify for a home loan, including clearing up credit issues.
A lender, broker or real estate professional also can help you "prequalify" for a loan by establishing the amount you can borrow before you begin looking for a home for you and your family. This information will let you focus on homes you can afford to buy.
When a person has concerns about his or her credit, it's very wise to get the answers first, before spending time and effort in finding the perfect home, and then being unable to buy it because of credit difficulties.
Pub Date: 2/07/99