|
|
|
Beware of Bogus Credit Repair Companies!
So-called "credit repair" companies claim they can remove negative information from credit reports. Advertising as "Credit Advisors," "Credit Rating Correction Services" or "Credit Consultants," they trumpet variations on this message: "Turned...
Credit Building Strategies
IF you are attempting to build your credit there are many strategies we can look at to help you get started. If you have no credit, bad credit or good credit, building credit is important since regardless of your situation, you do not want to go...
Credit card refunds - when and how to ask for your money back
I'm sure most people have dealt at least once with unsatisfactory service. Quality complaints, products not up to standards or not what you would've expected. And, in the good American fashion, what did you do? You disputed the charges with the...
Debit and Credit - Learning Accounting Basics
Debit and Credit - Learning Accounting Basics The terms ‘debit’ and ‘credit’ can be confusing when learning accounting for the first time but why is that? If you go to the bank and put money into your account then teller will say, “I am...
Is There Such A Thing As A Free Credit Card?
A lot of people have been wondering how they could score a free credit card. They have been searching the World Wide Web for resources that would point them to free credit cards of any variety.
This interest in those things that many have labeled...
|
|
| |
|
|
|
|
|
|
Bad Credit Mortgage Loan - How To Get One
A few years ago, if you had a bankruptcy or a foreclosure on your credit report, you could forget about trying to get a mortgage loan. If you were lucky enough to find someone who would finance you, your interest rate would be through the roof and plan on putting 10-20% down.
But today, this is not the case. There are many programs available today to help people who have recently suffered a bankruptcy or foreclosure to get a mortgage loan or mortgage refinance loan.
There are two things to do if you are in this situation:
1. Get yourself a free copy of your credit report from all 3 major credit bureaus, look over everything, do you see any mistakes? Make sure everything included in your bankruptcy or foreclosure reports accurately on your credit report. Make sure those accounts involved in a bankruptcy or foreclosure are not showing something else like collection or charge-off.. That could make your score much lower than it needs to be. If you have a bankruptcy or foreclosure, you want everything involved to say so, so it is all under 1 circumstance, instead of many. You can dispute all errors on your credit report online nowadays. It takes about 15 minutes. You can do it right on the website of Equifax, TransUnion or Experian.
2. Once you have checked your credit reports, apply only to places that submit your application to many
lenders. Every time your credit report is pulled, it will knock your credit score down a little. If you apply to a mortgage service that will submit your application to many lenders, then you only have one credit inquiry and can receive offers from up to 4 lenders per application.
Frequently asked questions are:
1. Will I have to make a large down payment? Not necessarily. If you can get your credit score above a 600, you should easily be able to get 100% financing, even if it has been less than two years since your bankruptcy or foreclosure. If your score is above a 580, you might still be able to qualify for 100% financing.
2. What kind of interest rate can I expect? Depending on your credit score and whether you have any down payment or not, I have heard of situations with a credit score as low as 585 with no down payment and an interest rate as low as 7.25%. That was quoted in March of 2005.
3. Can I get cash out? On a purchase, not likely. On a refinance, depending on your amount of equity, that is very possible.
There are many lenders now, who specialize in bad credit mortgage loans. These are the best lenders to start with.
About the Author
Carrie Reeder is the owner of www.abcloanguide.com. Her website is informational about mortgage loans and also provides a list of lenders who do bad credit mortgage loans.
|
|
|
|
|
| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
| Credit.com offers a variety of credit related products and services including credit reports and credit scores, credit cards, car loans, home loan and ... |
| www.credit.com |
|
| Equifax Personal Solutions: Credit Reports, Credit Scores ... |
| National consumer credit reporting company that offers credit reports, FICO(R) credit scores and identity theft protection products to consumers and small ... |
| www.equifax.com |
|
| The FTC's web site on Credit |
| Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance ... |
| www.ftc.gov |
|
| Federal Trade Commission - Consumer Credit Center |
| Features an assortment of helpful articles related to credit issues. |
| www.ftc.gov |
|
| AnnualCreditReport |
| Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. |
| www.annualcreditreport.com |
|
| Springboard - Non-Profit Consumer Credit Management |
| Our mission is simple: To offer education on the wise use of credit. ... SPRINGBOARD has been approved to provide credit counseling services and issue ... |
| www.credit.org |
|
| myFICO - FICO Credit Scores, Online Credit Reports and Identity ... |
| myFICO.com: Get your Free credit report and Free credit score with a 30-day trial of Score Watch. All three FICO Scores and Credit Reports Available now ... |
| www.myfico.com |
|
| Credit Suisse Global |
| Credit Suisse Group is an international financial services group. - Shares part of SMI. |
| www.credit-suisse.com |
|
| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
| www.experian.com |
|
| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
| www.ncua.gov |
|
| Credit - Wikipedia, the free encyclopedia |
| Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
| en.wikipedia.org |
|
| Credit (finance) - Wikipedia, the free encyclopedia |
| Any movement of financial capital is normally quite dependent on credit, ... Sometimes if a person has financial instability or difficulty, credit is not ... |
| en.wikipedia.org |
|
| The National Foundation for Credit Counseling |
| DebtAdvice.org is a service provided by the Members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit ... |
| www.nfcc.org |
|
| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
| FreeCreditReport.com: Free credit reports and credit scores from Experian. Get your free credit report and credit score now. It's free, fast, and easy! |
| www.freecreditreport.com |
|
| Compare credit cards | apply for a credit card | 0% balance ... |
| Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
| www.moneysupermarket.com |
|
| Ford Credit - Auto financing for Ford, Lincoln and Mercury cars ... |
| Ford Credit provides auto financing to finance a lease or purchase a car or truck through Ford, Lincoln or Mercury dealerships. |
| www.fordcredit.com |
|
| The Credit Card Prank |
| In my lifetime, I have made nearly 15000 credit card transactions. ... Credit card signatures are a useless mechanism designed to make you feel safe, ... |
| www.zug.com |
|
| Credit magazine, corporate bonds, derivatives, structured credit ... |
| Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
| www.creditmag.com |
|
| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
| www.cuna.org |
|
| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
| credit.about.com |
|
|