Bad Credit Rating

A bad credit rating affects your credit worthiness in many ways. All lenders, especially those who lend you money to buy a home, review your credit score to learn just how diligent you are in paying your bills and how much you currently owe. A lender’s main concern is the risk of default and your ability to pay a loan back. The lender uses your credit report to help determine these factors. The worst possible result from having bad credit is that you could be denied a mortgage loan. This worst-case scenario can happen for those with only extremely poor credit scores. But if you’re in that group, don’t assume you’re completely shut out of home buying.

CPN numbers are a second chance in the credit game. A secondary credit number(SCN) is a nine-digit number that has the exact same genetic makeup of a Social Security Number.  A CPN Number (Credit Privacy Number) / SCN Number (Secondary Credit Number) is a unique nine digit identification number that can be used to report financial information to all three credit bureaus. A CPN NUMBER / SCN Number is registered with the Three Credit Reporting Bureaus the process to do so called TRI-Merge (Submitting your personal information & the CPN / SCN to the 3 credit bureaus) and after that you will be able to have payments and financial information reported to.