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Your Credit Report — For Free  Your credit report affects your financial life in ways you may not imagine. It's the linchpin that determines whether you can get a mortgage, buy the dream home you’ve always wanted— and how much interest you'll pay. And it's often wrong. A June 2004 study by the U.S. Public Interest Research Group found that a shocking 79% of credit reports contain mistakes. What's more, in 1 out of 4 reports, the mistakes are serious enough to result in a denial of credit. The good news, consumers in the U.S. are allowed to receive — for free — one credit report from each of the three major credit bureaus every 12 months, thanks to the Fair and Accurate Credit Transactions Act. It's a new benefit that should be exercised at least once a year, particularly if you're going to be applying for, say, a new mortgage. Once informed of a discrepancy, the bureaus have 45 days to fix the problem, but generally do so within 10 to 15 days.
The three major credit bureaus — Equifax, Experian and TransUnion — have set up a toll-free phone line (877-322-8228) to handle requests, or you can send a written request to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, Ga., 30348-5281.
But the fastest way — not only to receive your report but also to dispute inaccuracies-- is a website, annualcreditreport.com. Don't be surprised when the site asks for personal information for security purposes (it's safe to provide it). You'll then be sent to an authentication page for the bureau you select, in which you'll be asked more questions-- about recent transactions and the size of outstanding loans. Again, providing answers is safe. The one thing to beware, however: once you've been authenticated, your report will pop up onscreen; if you close the window, it's gone, and so is your freebie for the year, so print it out immediately. One other bit of good news: you don't have to pull your free report from all three bureaus at once. So if you want to be truly vigilant about monitoring errors, you can spread your requests throughout the year. And the bureaus may even eventually iron out the lapses in their system that lead to mistakes in the first place.
Cosmetic Improvements >Sunshine Sells
When your home is being shown, you want prospective buyers to feel good as soon as they step into the living room. It pays to give special attention to maximizing the amount of light in your home because dark homes are depressing to many people. When prospective buyers give real estate agents feedback on the homes that we show, they often cite a light, airy feeling as a major attraction.
Begin your preparation for showing your home by cleaning the windows and curtains thoroughly. Open the drapes and blinds to let the sunshine in. Even on a bright day it helps to turn on some lights in the main rooms of the house. If you are using shades or heavy drapes to eliminate a less-than-perfect view, you may want to consider replacing them with translucent curtains in a light color. Sunshine definitely helps to sell homes!
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| Q |
What is the legal term used to describe the right of the U. S. government to condemn private land for public use?
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| A |
Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property. |
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