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Applying for credit cards online
In the olden days, about 10 years ago, before the internet, consumers would have to fill in applications for credit cards, loans, mortgages and so on by hand. It’s hard to believe now, but this lengthy process was the norm, with requests for extra...
Bad credit debt consolidation when debt joins hands with bad credit
How does your month starts - paying interest rate on your car, credit cards, grocery bills, medical bills and what not. It is a taxing process and chances are you can't even make the complete payments. Debt consolidation offers the best solution...
Bad credit personal loans – pertinent pedestal for a financial resumption
In the arena of loan borrowing, there is hardly an opponent more difficult to tackle than bad credit. Bad credit implies that your personal credit history is integral and decisive in making the personal loan available for you. Bad credit history is...
Getting the Best Loans UK with Bad Credit
Sometimes it might seem as though finding good loans UK is nearly impossible for those who have bad credit. Having bad credit can make life difficult in many ways, and almost certainly makes it more expensive… without being able to get decent loans...
Negotiating Rates with Your Credit Card Company
Ok, let’s face it, everybody hates high credit card rates, and they drain hard earned money out of your wallet. As a valued consumer, it is apparent that you learn how to negotiate to get the absolute best rate that you possibly can. The good...
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Bad Credit Mortgage Refinancing
Bad credit mortgage refinancing loans are used to solve two
different problems.
Problem Number One: The homeowner has bad credit, significant
high interest credit card debt and a home with substantial
equity. In order to pay off the high interest bills, the person
refinances his/her home and cashes out all or part of the
equity. The cash from the equity is used to pay off the high
interest obligations. Although the interest rate on the bad
credit mortgage refinancing loan may be higher than that of a
conventional loan, the house payment should still be less than
the total of the high interest consumer debt.
A bad credit mortgage refinancing where the owner intents to use
the cash from the home's equity to pay off bills is called a
debt consolidation loan. The value of the home being refinanced
must have grown so that the home's appraised worth will justify
a larger loan. The new loan amount must be high enough that the
owner can cover the loan's closing costs and still have enough
left over to pay off the credit card debt.
A bad credit mortgage refinancing such as this can have several
advantages. The term of the loan will be longer. Since even a
high interest subprime loan carries a lower interest rate than
do high interest credit cards the new house payment will be
smaller than the total of the old house payment and the consumer
debt payments. However, choosing to refinance in this manner
carries risks. If the homeowner does not change the behavior
that led to the high debt, even more high interest credit card
bills may be accumulated. Since the homeowner's equity has
already been "cashed out" of his/her house the only alternative
in a
money crunch may be bankruptcy or foreclosure.
If a homeowner chooses a debt consolidation loan as the method
of bad credit mortgage financing, it is imperative to use the
cash received to pay off the accumulated debts. Credit
counseling to keep from returning to poor credit practices
should also be considered.
Problem Number Two: The homeowner had bad credit when the home
was originally purchased and had to take out a high interest
subprime mortgage loan at that time. Two or more years have
passed since the loan was made during which time the homeowner
has made all of the loan payments on time and has incurred no
other bad credit. Now the time has arrived to refinance the loan
and receive a better interest rate.
Even with two years of excellent credit history, a homeowner
trying to refinance a bad credit mortgage may not be able to
obtain a conventional low interest loan. The type of loan that
can be attained will depend on a variety of factors such as
current income and how much debt the homeowner has.
Refinancing a bad credit mortgage under these circumstances may
be a good idea if the following two statements are true.
1. The new loan will carry an interest rate two or more
percentage points lower than the current loan.
2. The homeowner plans to stay in the house for three or more
years.
About the author:
Carrie Reeder is the owner of www.abcloanguide.com, an
informational website about various types of loans. View her
recommended Bad Credit Mortgage Refinance lenders.
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| 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 |
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| 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 |
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| 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 |
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| Federal Trade Commission - Consumer Credit Center |
| Features an assortment of helpful articles related to credit issues. |
| www.ftc.gov |
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| 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 |
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| 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 |
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| 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 ... |
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| Credit Suisse Global |
| Credit Suisse Group is an international financial services group. - Shares part of SMI. |
| www.credit-suisse.com |
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| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
| www.experian.com |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
| www.cuna.org |
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| 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 |
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