7 Items not on your Credit Report
7 Items Your Credit Report Won't Reveal
Excerpt:
Here are seven items that lenders won't see when they pull your credit report.Comment: The last time I applied for a mortgage I had to provide:
- Your salary
- Your employment status
- Your spouse's credit history
- Your criminal past
- Medical debt (unless it goes to collections)
- Nontraditional loans
- Your net worth
- Pay stubs for several previous pay periods
- A basic net worth statement backed up with statements
I was pretty shocked at the information they wanted when we purchased our house last year. Net worth, 6 month's worth of pay stubs, 6 month's history on bank statements, statements for our investment accounts (even if we weren't using any of those funds)...basically they wanted to know where the money we had came from. It was hard not to feel a bit violated.
ReplyDeleteWow! That was some list! But in my opinion, it will never hurt for you to have these info at hand in case it is needed. You will never know when your lenders would want to see your salary and employment status for your reference. To be sure, seek the help of a financial advisor to know what you should or should not provide.
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