Fannie Mae and Freddie Mac are now carried on board the mortgage loan borrowers who have low credit scores even more in financing fees. For years, bad credit borrowers have been paying the highest price in the rates of mortgage loans because it had no control over their own credit profile. With the recent announcement by the government of the higher fees have also been issued specific guidelines that show accurate results and credit rates. Even more reason as a home mortgage loan borrowers is to start gaining control of your own credit profile. As former Mortgage Broker, I am always surprised at the lack of knowledge the majority of mortgage borrowers in a position to maintain control of their own credit report profile. Many owners believe they are stuck with good credit who have or have no idea what your true credit score. I refer specifically credit score, because the mortgage results are lower than the scores of consumer credit. Scores of consumer credit scores are used to determine the creditworthiness of the loans, such as cars and credit cards, mortgage loans are not. Unfortunately the majority of home mortgage borrowers would never check their credit score until after they start the process of purchasing mortgage loans. As you may or may not know the credit bureaus owe you a free copy of your credit report every twelve months. Note that I said free. Still amazes me that owners still approach mortgage purchase process with no clue about what is contained in its credit profile. Why would anyone pay higher rates to refinance home if you really do not have to? The answer is – as I said earlier, consumers are in the mindset that they are stuck with what they have or have no ability to change the bad credit if they want. That response could not be further from the truth. If you’re planning a mortgage refinancing or buying a new house is absolutely imperative that you understand the difference between your credit score and your credit score consumption. Mortgage results are always lower than consumer credit scores, simply because a mortgage is much higher value than say a car or credit card. Gain control of its credit profile should begin to get a free copy of your credit report. Each credit bureau will provide a free copy once every twelve months. In order to check their credit profile in the three offices is whether there are negative elements been reported. If you find negative items on your credit report then I’ll detail the process of how to handle this situation. Under the new Fannie Mae and Freddie Mac guidelines pay rates higher than normal for any credit score below 680. If you currently have negative items on your credit report which are holding their classification under that limit there is a solution to your problem. The solution is credit repair however before you run away screaming in fear of all the myths of credit repair, let me say this. Legal credit repair is real and is available however, if you do not know the process or where you could start making some big mistakes along the way. On the other hand, if you do understand the process of credit repair is surprisingly simple and can change your life forever. The process of credit repair is something like this, get a copy of the three credit reports and find an online information service that will monitor the reports of the changes and immediate notification. Once in the service can work with one of the lawyers in line popular item that can initiate negative conflicts for you. The real key to working with credit repair services online is to provide credit reports as soon as changes are made. Therefore, using the good credit report monitoring service is essential to the process.