New credit reporting overhaul

In a move that may prove beneficial for some seeking home ownership, the three major credit reporting agencies Experian, TransUnion, and Equifax have agreed to change how they handle errors claims as well as how they list unpaid medical bills nation-wide. This news marks the largest industry overhaul in over a decade, but the changes will roll out slowly over the next three years.

Pressure by consumers and an investigation prompted by New York State Attorney General Eric Schneiderman all led to the agreement made by the reporting agencies. 

For more information on the overhaul, visit www.realtor.com/news/credit-reporting-overhaul/

Jared Hammond

Jared Hammond

Real Estate Associate & Property Manager
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