Amended Credit Reports Could Open Door To Home Ownership

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Score One For Consumers

By Layden Hale

When does a minor become a major? You may learn this summer. That is when as many as 12 million Americans could see a slight increase in their credit scores, opening the door for the biggest purchase of their lives – a home.

After significant consumer complaints, and pressure from 31 state attorney generals, the three major credit bureaus have agreed to make changes. Come July, some civil judgments and tax liens will be removed from credit scoring calculations. And that could be a game changer for someone narrowly denied a loan on a previous application.

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