Know your credit history
Morris Digital Works Wire Service

A good credit history is important when looking for a good mortgage rate. If you don't know your credit history, it is important to check it before you start house hunting.

An easy way to get a copy of your credit history is to contact a credit reporting company. The three major companies are Equifax (1-800-685-1111), Experian (1-800-397-3742) and Trans Union (1-800-916-8800). Reports cost about $8 from each company.

When you get your report, check it to make sure it coincides with your own records. If there is a discrepancy, send letters to the credit reporting company you received the report from. They are required by law to check the report and make sure it is accurate - this usually takes four weeks.

Even if your credit history is tarnished with delinquent payments, it is good to have a copy of your report. If your credit problems are old, then you can show you've made your payments on time recently. If your credit problems are more recent you will need to explain them to lenders in writing. They are usually lenient for reasons such as divorce, unemployment and illness.

Debt repayments will disappear from your credit report after seven years.