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Credit Card Takes A Vacation
Whether it's a weekend getaway or a two-week escape traveling your favorite foreign country, getting a "designated traveler" credit card can make life much simpler.
What's a designated traveler? It isn't as mysterious or as complex as it may sound...
Credit Damage: Getting Compensated for Your Loss
Until recently lawyers for victims of credit damage had little possibility to collect for damages beyond medical treatment, lost wages and property loss. Insurance companies threw up their hands in sympathy, claiming victims can only be compensated...
Financial Flat? Bad Credit? need a fix?
Failing finances are a common problem now-a-days. How does
one extricate himself from a heavy debt load? There are ads that
offer to do that ... for a price. It may be the answer for some.
However, there are things one can do for himself.
...
How To Avoid Credit Card Penalties
It is a sad fact of life that credit card companies are very
willing and fast to slap a penalty charge on your account for
every mistake, delay and slip up you cause, immediately and
without a second thought. These penalty charges can amount...
How To Get A Higher Credit Card Limit
Almost all credit card holders are aspiring for a higher credit
card limit. This is because a higher credit card limit will
enable them to make otherwise unaffordable purchases. Credit
card holders need to remember that to get a higher credit...
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Home Loans For People With Adverse Credit History
Whether you are planning to purchase a home for the first time or refinance an existing mortgage, plan on comparing lending companies before you accept a financing offer if you have adverse credit history. Sub prime lenders specialize in offering loans to people who have a high-risk credit history. In return for accepting this risk, they charge higher rates and fees.
But not all sub prime lending companies offer competitive rates. Lenders can stack fees into the loan or charge excessively high interest rates, so it is best to compare financing offers.
Check Online
Mortgage websites offer a convenient and competitive way to gather financing quotes. Through such websites, lending companies know they are in direct competition with others, so they offer their best quote. You can also complete your loan application online once you have chosen a competitive offer.
Compare Rates
Interest rates can vary a couple of percents between lending companies. Over the lifetime of your loan that can add up to thousands of dollars. When comparing rates, make sure that you gave out the same information. Differences in loan amount, down payment, and income level affect rates.
Look At The Fees
Fees should be included in the price of the loan when you are comparing prices. Adverse
credit will result in some fees, but they should not be excessive. You should expect to pay up to five points for most loans. There are always exceptions to this rule, but comparison shopping should give you an idea of what is reasonable.
Details Count
Once you have a competitive financing offer, be sure to read the terms. Some lending companies charge high fees for late or missed payments. While late fees are common, they should not be extreme. If you have any questions, contact the lending company and they will answer your questions.
Include A Down Payment
A down payment between 5% and 20% is usually required for people with a credit score less than 600. If you provided a down payment larger than the minimum, you can often get a better offer. In addition, a down payment of 20% or more will save you from the expense of PMI.
To view our list of recommended bad credit or subprime mortgage lenders online,
visit this page:
Recommended
Subprime Mortgage Lenders Online.
About the Author
Carrie Reeder is the owner of ABC Loan
Guide, an informational website with articles and the latest news about
various types of loans.
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