Learn About Your Credit

Cherokee is dedicated to improving the circumstances of the people and places where we work. Our primary expertise is utilizing real estate to effect this change.

The ability to borrow money at a fair "price" is necessary for most people in order to buy "big ticket" items such as automobiles and appliances, as well as their homes. A fair "price" means at an interest rate that is equitably and reasonably adjusted to reflect the credit risk associated with each borrower. This is why Cherokee has included a discussion of "credit" on this web site that is focused on helping people, and community development via real estate renovation.

We encourage you to learn more about credit, and your own credit profile, because you can then make sure that your credit report is accurate, and better understand what you can do in order to improve your credit "score". This enables you to borrow money at a lower cost, thereby freeing up money for more important things, like your family. It also enables you to borrow money to buy a home, which is one of the most important things most families can do to secure their financial future, and establish roots in their communities.

Resources:

• How Credit Reports Work is an entertaining and clear manner at the web site of "How Stuff Works"®.
• Fair Isaac provides Credit Scoring Facts and Fallacies, and information on how to improve your credit score.
• The Federal Trade Commission (an agency of the US Government) offers information regarding mortgages, credit and real estate

Know Your Credit Score?

Credit Bureaus are an essential part of virtually every aspect of our financial lives. Making sure that your credit report is accurate is important. It can determine whether or not you will be granted loans, and what rates you will be asked to pay. You can obtain a free copy of your own credit report once a year. The three major credit reporting agencies are:

• Equifax Information Services: P.O. Box 740241, Atlanta GA 30374; 800-685-1111
• Experian: 888-397-3742
• TransUnion: P.O. Box 2000, Chester PA 19022; 800-888-4213

You are entitled to get a free copy of your own credit report once a year from AnnualCreditReport.com- the official site created by the three nationwide consumer credit reporting companies, Equifax, Experian and TransUnion, to provide consumers free copies of their credit report once a year. This service is in accordance with the Fair and Accurate Credit Transactions Act (FACT Act).

You may also obtain your free credit reports by mail. To do this, download the PDF form entitled Annual Credit Report ReQuest Form.

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