As we have reported here many times there is only one place that you can get your absolutely free annual credit report and that is at annualcreditreport.com.

But the guys singing the jingle jangles are at it again. Of course, they want you to contact them for your report so that they can sell you on their credit monitoring programs so now they are giving you your “free” credit report for almost “free” like a $1 or less. Or they are offering you a “free” credit score, which is something that you have always had to pay for. They want you to sign up for their credit monitoring services, which will end up costing you more in the long run.

If you want to save your money you can get your own absolutely and completely free credit report one time each year at annualcreditreport.com

If you want your score you can go to MyFICO.com and you can get your score plus a single credit report for about $16.00, not free but still less than the cost of credit monitoring, which you probably don’t need or want.

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The $8000.00 tax credit for first-time buyers ends on Friday. In order to take advantage of it you will need to have your purchase contract signed by Friday and you must close on the loan for your property by June 30.

If you haven’t already started the process you may be too late. However, the houses will still be there when you’re ready to buy with or without the tax credit.

As a first time buyer, however, you probably have millions of questions about the process. As a former Realtor, I helped many first time buyers get into their first home and there are a few things that every first time buyer should know.

First off. Never buy the house through the listing agent. The listing agent has a fiduciary responsibility to the seller. That means that it is absolutely their job to get the best terms and conditions for the seller. While buying through the listing agent can work out, the truth is that as a buyer you have the right to your own representation. If you find a Realtor to work with you as a “buyer’s agent” they will have a fiduciary responsibility to you. That means it is their job to get “you” the buyer, the best terms and conditions.

And the best part about that is, that the commission is paid from the proceeds of the sale of the house. So you don’t have to pay your Realtor, who is working for you to get the best deal. The seller still pays the commission. (Actually the seller pays their agent, who in turn shares with your agent…but that is just details.)

Next up. Go to the Mortgage Company first. Apply for your loan, get pre-approved, find out exactly how much money you will need up front and exactly how the whole mortgage loan process works before you go out hunting for a house. There is nothing more discouraging for any buyer than to find the house of their dreams but not be able to get it because they didn’t have the financing in order. If you are serious about buying and you can’t pay cash (most people can’t) then applying for the mortgage is crucial. Do it first. Do not hesitate. If you have credit issues, they will stop you from qualifying for a mortgage, so fix them before you find your dream house.

When you write the contract, get your contingencies in order. Get an inspection done on the property. You will have deadlines so make sure everything is completed in a timely manner. If there are problems with the home, make sure they are repaired or fixed or that you can get out of the contract and get your earnest money back. Make sure that there is also a financing contingency. And make sure anything else that needs to be addressed is addressed. This is the time when you want a good Realtor on your side. If you have a question or concern about anything, talk to your Realtor. They should be able to give you a satisfactory answer that makes you feel comfortable with your decision.

Buying your first home is a huge decision. Make sure that you have the answers you need and you feel comfortable with what you are doing.

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You are entitled to receive a free credit report one time each year as per the FCRA. However, there are many advertisements about “free credit reports” that are not free at all. Most of these companies are selling credit monitoring services and many people have unintentionally been signed up for services that they did not want when they responded to the ads for the free credit reports.

To get your absolutely free report you must go to AnnualCreditReport.com. This is the only legitimate website to get your free report.

However, when you do get your report it will not include the credit scores. You will need to purchase the scores separately. Recently we did come across a website CreditKarma.com where you can get your credit scores for free. The website relies on advertising sponsors so that it can give you your credit scores for free.

Check out CreditKarma.com

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While a funny jingle may play out in your head and help you to remember that you can get a credit report for free, you may want to think twice about getting that report from the people in the commercial for freecreditreport.com

Because (big surprise!!) it’s not free!! Nope. Not free!

Over 11,000 people have complained that when they contacted freecreditreport.com for their free credit report that they received a charge on their credit card for $14.99.

Because freecreditrerport.com is selling a credit monitoring service called Triple Advantage. When you get their “free” credit report you also sign up for Triple Advantage (which really makes the credit report not exactly “free”, don’t you agree?)

Right now the FTC is proposing a crackdown and have even responded with their own singing jingle ads that tell the truth.

The only place to get your free credit report that you are entitled to every year is from AnnualCreditReport.com

Right now the Federal Trade Commission is considering enacting some rules to mandate that competing Web sites disclose that people can get a free credit report at AnnualCreditReport.com. The agency is accepting public comment on that plan until Dec. 7.

Read the story here. See the story here.

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