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A Guide to Bad Credit Finance Options
Have you been trying to find out what bad credit finance options were available? Perhaps you're in the market for a new car or truck, but aren't sure if you can find a dealer or lender who'll offer you a bad credit finance? You shouldn't worry too...
CREDIT CARD BLUES
For the average American family, debt, and especially credit card debt is spiraling out of control at a record pace. The average household credit card debt has risen dramatically from $3000 in 1990 to over $8000 today. Personal bankruptcies are also...
How To Deal With Credit Denial
Understanding what's on your credit report is extremely important. Especially, if you have applied for credit and the creditor denied your application. If you are denied credit, do not ignore this fact. Most individuals will move on to the next...
Save Time, Money, and Frustration: Get the Right Credit Score
You go into a lender's office prepared to apply for and receive a loan. After all, you've done your homework, you've pulled your credit reports and you know what your credit scores are--you even got one score from each of the three major credit...
What is Credit Insurance?
Are you wondering what is credit insurance? Very simply, credit insurance is an insurance policy that protects a loan on the chance that you are unable to make the repayments. The next time you have occasion to apply for a loan or mortgage, you will...
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Mortgage Broker/Loan Originators Look To Capitalize on Credit Restoration
The majority of people that have ventured into the mortgage broker/loan origination field have been those who enjoy sales and have an entrepenuers heart. Within the walls of the mortgage world, there is a vast amount of money to be made.
If you look at the economy today, you can rest assured though, that mortgage brokering for a career is not for the faint of heart. Today we see interest rates climbing higher and higher, we see young college graduates swamped with debt by the time they turn their tassels, and we see the number of foreclosures rising faster than a Phoenix thermometer at noon in July. The outlook for our career could be a bleak one. This is especially true for the person that does not plan ahead.
Let's take a look ahead at what we see happening and what we could do to sidestep the rush of those unprepared brokers that ill be rushing fop the career exit.
1. We see interest rates rising. We understand with this rise it will be more difficult to persuade the A credit buyers to make a move. This will force subprime lenders to tighten the grip on the loan requirements for the poor credit borrower. Lenders that created low credit/high risk loans will be on the hot seat to tighten ship.
2. We see the rate people are entering foreclosure rising. We understand many of the
investors, if they do decide to buy, will go after the reo properties and the majority of the brokers are not connected inside enough to handle these deals with any regularity.
3. We see poor fico scores becoming more evident. We understand that this will cause an even wider gap between the "have's" and "have nots" We also understand that this will tighten the indusrty even father.
These three factors could cause premature graying for the mortgage broker that got into the business and rode the high tide but never learned to think on their feet. It is at a time like this, you have to find a way to make every move count. If this career was a game, then you were playing hopscotch for the last few years...Now it's time to learn to play chess!
You need to begin to ask yourself this question. If I relied totally on the good times and A credit buyers, what can I do now that will make the good times last?
In the next installment, we will look at networking and marketing trends and how to capitalize in a big way on a small budget.
For More Information visit Credit Restoration www.creditfixtip.com or www.acresystem.com
About the Author
Robert Shawn is a writer for a number of Informational Directories.
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The National Foundation for Credit Counseling |
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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 |
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