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primesourcemtg.com

prime source mortgage

139 Natick Trail
Brick, NJ 08724

(P) 732-899-3899
(F) 732-899-8943
sales@primesourcemtg.com

Credit Questions about Mortgages & Lending

Why do we need credit reporting?
Credit reporting is needed because it provides the information that helps consumers make purchases, secure loans, pay for college educations, and manage their personal finances. Credit reporting makes it possible for stores to accept your checks, banks to offer credit and debit cards, businesses to market products, and corporations to better manage their operations to benefit the world's economy.

What is a credit inquiry?
An "inquiry" is a listing of the name of a credit grantor, or authorized user who has accessed your credit file. Each inquiry is posted to the credit file so you know who has obtained a copy of it. Credit grantors post an inquiry before offering you a pre-approval credit card application. These are listed as "promotional" inquiries on your credit file because only your name and address were accessed, not your credit history information. They are NOT sent to credit grantors or businesses for reasons of credit reporting. They are listed for your informational purposes only.

How does divorce affect consumer credit?
A divorce decree does not supersede the original contract with the creditor, and does not release you from legal responsibility on any accounts. You must contact each creditor individually and seek their legal binding release of your obligation. Only after that release can your credit history be updated accordingly.

Should I use one of those companies that promise to help correct my credit?
It's your choice. However, beware of companies that promise to remove accurate information from your credit file. Accurate information cannot be removed from a credit file. There is nothing they can do for you that you cannot do for yourself by contacting the credit reporting agencies directly. Only time will heal a delinquent credit history.

 

For all questions or comments, click on the “Contact us” form. Prime Source Mortgage is one of New Jersey's best mortgage lenders with the lowest rates and fees for New Jersey borrowers. Prime Source Mortgage originates mortgage loans in all 21 New Jersey counties. Rates are provided by Prime Source Mortgage. Prime Source Mortgage is a qualified Lender in New Jersey. Prime Source Mortgage is a qualified Mortgage Broker in New Jersey. Prime Source Mortgage is a Residential Mortgage Broker in New Jersey. John Meyerle is a Qualified Individual Residential Mortgage Broker in New Jersey. PrimeSourceMtg.com is owned by Prime Source Mortgage

Our mission at Prime Source Mortgage is to provide customers with the lowest New Jersey mortgage or refinance rate matched with superior service!

We work with a low overhead to bring these rates to you. YOU are our business and YOU are important to us so don't let a minute go by because by time that you have read this, your Quick Quote could have already been on our desk!

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