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When getting a mortgage what do you see from a credit check

 
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amother
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PostPosted: Tue, Jun 09 2009, 10:55 pm    Post subject: when getting a mortgage what do you see from a credit check
 
We are trying to buy a house and a close friend is the mortgage broker. My question is how much information does the mortgage broker get to see about us because he does a check on us? What exactly do they see on a credit check? And is there different levels of credit checks or only one type?
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PostPosted: Wed, Jun 10 2009, 2:32 am    Post subject: re: when getting a mortgage what do you see from a credit ch
 
From the mortgage application(s) that needs to be prepared, your friend will already know a great deal about your financial situation even before running a credit check: your employment history, your income and its sources, your assets and liabilities, what you own and where, what debts you have and to whom. The credit check will show if you have ever been turned down for credit, what credit cards you have, if there are any judgments against you, prior bankruptcies, etc. It may also show any criminal convictions on your record. As part of the mortgage process, you will be asked to sign an affidavit stating if you have ever been known by any other name, so any prior marriages are likely to be revealed. I'm not sure what you're concerned about this person knowing, but if you want to keep your financial information and financial history private, or if you are concerned that this person might repeat some of the confidential information which he will learn in the course of helping you get a mortgage, you probably shouldn't be using a close friend as your mortgage broker.
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