A recent change of credit reporting practices may be a major help to many first-time homebuyers. Effective July 1st of 2017, the three largest credit reporting companies; Equifax, Experian & Transunion, will no longer be collecting and reporting substantial amounts of information on civil judgments, and tax lien data. By not reporting this type of information many consumers, who in the past would not get high enough credit scores to qualify for a home loan, will now become eligible for a mortgage. It appears that these changes are coming about because in a number of cases consumers were denied loans based on false reporting of this type of information. The banking industry is also concerned that without all this data they may be unable to fairly evaluate the applicants credit worthiness. Both sides of this issue need to be protected, the consumer who may be falsely denied, due to inaccurate data, as well as the banks who need to protect their investors. Let’s hope this change works for the benefit of both sides. Time will tell.