Credit Rule Changes Effective June 2018

Dated: 06/05/2018

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On the 8th of June, there will be changes on how your credit is reported. These include:

  1. Collections that aren't at least 180 days old will be rejected by the 3 major credit bureaus. You will now have time to pay them off before it is even reported.

  2. Medical collections will no longer show on credit reports as long as it is being paid (through either you or insurance)

  3. Collection accounts that have not been updated in six months or more will not be factored into scores.

  4. Any collection that did not result from a contract or agreement to pay by the consumer will be removed.

This means that now is the perfect time to speak with a loan professional about how this will impact your ability to buy a home. I can send you one of my preferred lenders or click on the Finance tab on my website! 

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Kim Agemy

Real Estate is my passion. Whether it is putting families with the perfect home to build memories or helping someone sell a home for the next chapter of their life, I am there every step of the way. I....

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