Dear first time home buyers and/or anyone with bruised credit who want to buy a home:

On June 8, 2018, there will be changes on how your credit is reported. These changes include:

• Collections that aren’t at least 180 days old will be rejected by the 3 major credit bureaus. You will now have time to pay them off before it is even reported.

• Medical collections will no longer show on credit reports as long as it is being paid (through either you or insurance)

• Collection accounts that have not been updated in six months or more will not be factored into scores.

• Any collection that did not result from a contract or agreement to pay by the consumer, will be removed.