Many consumers consider the purchase of a home to be their financial pinnacle; all of their savings and efforts have been focused on this one event and following this purchase they do not think it necessary to be as engaged in their finances as they have been to date. This can be a very dangerous philosophy. The truth of the matter is that the purchase of a home may only mark the beginning of many other life changes and if a homeowner’s credit report is not in good shape their financial choices are substantially limited.

Therefore, in order to stay abreast of their financial health and put appropriate plans into place, homeowners must be consistently aware of their financial standing as told on their credit report. Because each consumer’s credit report is held by three separate credit bureaus – Experian, Equifax, and TransUnion – it is imperative that homeowners request free credit reports from each of these three credit bureaus to ensure that the information being presented is accurate.

A quick visit to www.annualcreditreport.com will allow consumers to request free credit reports from each or all of the credit bureaus. By requesting free credit reports at least on a yearly basis, homeowners can ensure that all financial information being presented is completely accurate.

By requesting free credit reports consumers do more than catch inaccuracies; they have the opportunity to catch any possible identity theft very quickly so that steps can be taken immediately.

Additionally, a free credit report requested periodically will allow homeowners to ensure that they are always in a good financial position to refinance or apply for a home equity loan if needed. Or, should the homeowner decide at some point to sell their home and purchase another, they can know with confidence that they are in the financial position to do so.

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