By: Rebecca Levin

Refinancing a home loan is one of the biggest decisions you can make. It can affect any future purchases you make and impact your credit in ways your lender might not be able to predict, but just getting approved for a refinance can be a battle unto itself. To refinance, you must jump through a variety of hoops and have a reasonable credit score in order to do so.

Which brings us to the question: should you use an identity protection service to secure your credit score? If you would like to iron out any instances of fraud, identity theft, or any errors in your credit report before applying for refinance and you have the money, then the answer is yes. Utilizing these services will not harm your chances of refinancing.

Identity Detectives

Identity protection services are a valuable resource for detecting fraud and protecting against identity theft. They go above and beyond your credit card agency to assess the instances of identity theft that might have occurred, and help protect your credit from further fraud damage. Many agencies also allow you to purchase credit insurance. This insurance aids you financially in purchasing expert legal help in the event that your identity has been stolen, help that would otherwise be unaffordable.

Furthermore, these companies allow you to view your credit report whenever you desire, so you can see any misrepresentations in your score and correct them before applying for refinancing. This is a valuable tool, considering that viewing your credit report multiple times a year can be a costly experience.

Security Is Not Free

If you have the time and would like to save some money, then it might be better to check your credit score manually and iron out any problems without the aid of an identity theft service. If you do choose to utilize one of these services, however, you can rest assured that it will not harm your chances of refinancing. You can sign up at www.creditkarma.com and begin to receive free credit reports. You can also sign up through the blog  to have complete  protection and recovery services as well at here:  http://www.theidentityadvocate.com/identity-theft-protection.php

Rebecca Levin is a contributor to mortgagerates.inmyarea.com, which is a consumer friendly financial services and information site. To find out more about Rebecca and her work, please visit her Google Plus account.