With interest rates as low as they are, I’ve been looking to refinance our houses. When I was unemployed that was not an easy thing to do, but now that I’ve been working for 3 months, I contacted a mortgage broker and got the process started.
After a week of working with him, I received an e-mail from Credit Sesame saying my credit score had changed, but I ignored it and deleted it without opening.
Two days later, my broker called to say my credit score wasn’t what he had expected. It was 690. Yikes!
Last I checked it was ranging between 780 and 840!
He pulled my report and found that a hospital bill had been reported unpaid for a whopping $250. He also said that the lower score meant the interest rate he had quoted me was going to be 1/8 of a point higher because my score went from amazing to average. Ugh.
I called the hospital and appealed the bill – long story, but it was removed from my credit report and now I’m looking to refinance again.
Lesson learned: IF I had paid attention to my Credit Sesame notification I would have been able to take care of this sooner. And IF I hadn’t been refinancing, I may not have know about this hit on my credit score for months.
If you haven’t signed up yet, I highly recommend it so you can keep an eye on your credit score. It doesn’t cost a penny, so why not?