Chances are fairly good that you have never seen a copy of your credit report. Yet, mortgage companies, credit card companies, apartment managers, car dealers, and many other lending institutions regularly use the information found in these reports to decide whether or not doing business with you represents an acceptable risk. It is a good idea to know what these lenders will see before they make a decision about your loan, yet too many "inquiries" on your report may lower your credit rating.

Bad debts, or errors that report bad debts, may appear on your record for approximately seven years from the filing date. If you have been turned down for a loan based upon a report from a Credit Reporting Agency (CRA), you may have a right to receive a free or low cost copy of that report from the CRA under the Fair Credit Reporting Act. If you live in Colorado, Georgia, Maryland, Massachusetts, New Jersey, Vermont — and probably other states by the time this is read — you are eligible by law to recieve a free copy of your credit report.

Contact these 3 major Credit Reporting Agencies for more information: Experian, Trans Union, and Equifax

Federal Trade Commission Bureau of Consumer Protection - "enforces credit laws that protect your right to obtain, use, and maintain credit. These laws do not guarantee that everyone will receive credit. Instead, the credit laws protect your rights by requiring businesses to give all consumers a fair and equal opportunity to receive credit and to resolve disputes over credit errors." Here is a list of credit publications that should help you better understand your rights as a consumer.

HomePath - is a step-by-step guide through the entire mortgage process. Brought to you by the Federal National Mortgage Association, better known as Fannie Mae, this very comprehensive mortgage site explains how to shop for a mortgage, finance home improvements, make a loan application, what to expect after you apply, what happens at closing, and even how to live with your loan after settlement. There are loan calculators to help you determine how much house you can afford, what your monthly payments will be, and whether or not it is a good time to refinance an existing loan.

Housing - Financing & Sales - This page, which is part of the United States federal government Consumer Information Center Web site in Pueblo, Colorado, contains links to information about adjustable rate mortgages, mortgage lock-ins, refinancing, a HUD home buying guide, settlement costs, and dozens of other home buying and maintenance publications.

Buying a Home - a publication from the U.S. Department of Housing & Urban Development, which contains answers to common questions from first-time homebuyers, including a list of nine steps to buying a home, information about HUD, FHA, and VA loans.

VA Loan Guaranty Service Homepage - The organization within the Veterans Benefits Administration that administers the home loan program, which helps "veterans and active duty personnel purchase and retain homes in recognition of their service to the Nation." Available information includes VA Home Loan pamphlets, frequently asked questions about the VA loan program, specially adapted housing for disabled veterans, and addresses, telephone numbers and Web sites of the Department of Veterans Affairs Regional Loan Centers.

VA Information Videos for Veterans - Online videos about buying a home, selling a house, refinancing, energy efficient mortgages, and ways to avoid foreclosures.