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Can Stoozing Damage Your Credit Card Rating?
People who stooz credit cards may make money in the short term,
but if they are not careful their credit rating may be damaged.
Stoozing credit cards by taking 0% interest introductory offers
can be lucrative. Many people make thousands of...
Credit Card Minimum Payments Create Debt
A credit card minimum payment means that you can spend more and
pay as little back as the credit card issuer will allow you.
Sounds great in theory but it is a system that will turn out to
be your worse nightmare. If you stick to it before long...
Eliminate Your Credit Card Debt Forever-Without Stress
In recent years, the amount of credit card debt being carried by
Americans has reached hundreds of billions of dollars, with
interest payments each year that would sink the economies of
many small nations. But you can eliminate your credit card...
The advantages of consumer credit counseling
Many individuals have been helped by consumer credit counseling to take control of their finances and to eliminate debt. Consumer credit counseling can work for you by teaching money management skills which can help you throughout your lifetime. ...
What is Credit Scoring?
Have you ever wondered what is credit scoring? Credit scoring is a system creditors use to help determine whether or not to give you credit. How does a creditor decide whether or not to grant you credit? Creditors use credit scoring systems to...
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Don't Let Bad Credit Stop You
Don't Let Bad Credit Stop You
When I worked as a loan officer, it wasn't unusual for me to
come across people who thought they were out of luck because
they had bad credit.
This is really not the case, although it is fair to say that you
would not be able to walk down to your local bank, have a seat
in the branch manager's office and walk out with a mortgage.
However, there are alternatives, and you do have choices.
If you contact a broker, tell them your situation, be completely
honest and up front with them, otherwise you are just wasting
their time as well as your own, and believe me, whatever your
situation may be, they have heard worse. Nine times out of ten
they will be able to help you.
Conventional banks are not the only ones that lend money.
Brokers have access too literally hundreds of banks with a wide
variety of programs for people in unique situations from
foreclosure buy outs, to 100% financing with poor credit scores.
I speak from experience, because when I was a loan officer I did
mortgages for people
in unique situations.
Foreclosure buy outs, bankruptcy, late payments on prior
mortgages, the list goes on.
I would sit down with my customer, take down as much information
as possible, than present their information to many different
lenders for them to review. Most times I would find one with a
program to help my customer.
Keep in mind, with unique situations, there is risk involved on
the part of the bank, so you can't expect to get the best rate
in the world. But if it is reasonable, and can put you into the
situation you want to be in, than it is well worth it.
So if you think your credit, or a bad situation is preventing
you from getting a loan, think again, there is probably a
program out there for you, you have nothing too loose.
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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| 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, ... |
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