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Credit Card Debt And The Interest Only Loan
Here is an example of the system gone wrong: a mortgage loan
that encourages paying off one debt, in order to over extend
yourself with another debt. This is what happens with the
interest only loan and credit card debt. As a borrowing nation,
I...
Credit Card vs. Debit Card - What Are The Differences
Ah, the “good old days”. If you are a baby boomer, like me, then you probably remember how important it was to rush to the bank on payday. You had to get there before the teller lanes closed so that you could have your “cash allowance” for...
Credit Report and Credit Scores
The information on your credit report can greatly affect the interest rate and your ability to obtain a loan. So it’s very important to check your credit report early, even if you are not quite ready to buy a house just yet. There are 3 major...
Demystify the allegorical misinterpretation of bad credit personal loans.
Every time you go for a loan, the bad credit trademark hits you where it should – your odds at finding a loan. For bad credit personal loan, it is necessary to discover your standing as a loan claimant. Loan borrowing is promoted as a much...
How A Bad Credit Report Affects Your Life
A low credit rating or bad credit report can negatively affect virtually every aspect of your life. Whether you are consistently late on your mortgage or utility bills or you are over your limit on your credit cards, bad credit can make purchasing...
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Don't Be Stopped by Bad Credit
If you are interested in buying a new home or refinancing the
one you are currently living in, but think that you are out of
luck because you have bad credit, think again.
The mortgage industry is probably larger and more diverse than
you realize. You no longer have to go down the street to your
local bank to get a mortgage where they only work with people
with excellent credit.
There are literally thousands of mortgage lenders across the
United States, better known as wholesale lenders with programs
specializing in lending money to people with challenged credit.
These lending institutions are called wholesale lenders because
they work with brokers, who in turn, find the wholesalers
customers.
A broker is not a lender, they council and educate you during
the mortgage process from beginning to end, they also are
responsible for finding a lender to
accommodate your mortgage
needs.
Mortgage brokers have access too literally hundreds of lenders
across the country. So chances are, they can find you a lender
with a specific program to fit your needs. Regardless if you
have poor credit or need a program that offers no money down.
Keep in mind, the mortgage industry is a very competitive one,
and these brokers and wholesale lenders will compete for your
business, so let them.
So don't ever feel as though you are at the mercy of the
mortgage companies or the brokers just because you have bad
credit. Best of Luck.
About the author:
Jennifer Hershey has more than twenty years of experience in the
Mortgage Industry as a loan officer. She is the owner of
http://www.explainingmortgages.com/, a mortgage resource site
devoted to making mortgage terms and products easy to
understand.
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The FTC's web site on Credit |
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Federal Trade Commission - Consumer Credit Center |
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Credit - Wikipedia, the free encyclopedia |
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Credit (finance) - Wikipedia, the free encyclopedia |
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en.wikipedia.org |
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The National Foundation for Credit Counseling |
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The Credit Card Prank |
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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. |
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CUNA: The Credit Union National Association |
News and resource directory about credit unions. |
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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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