"War is a series of catastrophes which result in victory."Albert Pike
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10 Common Credit Card Mistakes
In no particular order, the following are viewed as being the top 10 common credit card mistakes: 1. Applying for a card and limit you cannot afford to repay Most people have bad debt management skills and are swept away with the fact that they have 'x' ...
Bad Credit Mortgage Loans - Can You Get Approved?
A few years ago, if you had a bankruptcy or a foreclosure on your credit report, you could forget about trying to get a mortgage loan. If you were lucky enough to find someone who would finance you, your interest rate would be through the roof and plan ...
How To Get A Better Rate From Your Current Credit Card Company
You have just realized that your credit card company is charging you a hefty 20% interest on your charges! That is way off as compared to the 11% to 15% rates that you see online. When it comes to credit cards, a 5% difference in interest rates can mean a ...
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If you are looking for a home or are considering refinancing the one you are already into consolidate debt or get some cash out for home improvement but believe you may be unable to because you have bad credit, you may want to reconsider.
The mortgage industry is a very competitive one and there are literally hundreds of lenders or wholesale lenders across the country that would seriously consider doing business with you even though you have bad credit.
You may be asking yourself why they would be interested in doing business with you.
Here is the reason . . .
The understanding of most consumers is that you can only get a mortgage from banks on the corner and that you must have perfect credit.
This is not exactly true, these lenders known as wholesale lenders have specific programs to meet the needs of many people in every kind of situation.
Regardless if you have bad credit, no money to put down, or you are looking for an interest only program, chances are, there is a lender out there for you.
You can either shop around on your own, or hire a mortgage broker to do the shopping for you.
A mortgage broker is not a lender, they work for the lender to find them customers and fit them into their programs if appropriate.
If your situation is unique or tough, you may want to consider using a broker. They literally have hundreds of wholesale lenders at their finger tips and it is their job to council and educate you during the mortgage process from beginning to end.
Allow for up to four brokers to assess your situation, than base your decision on the one that best fits your needs and budget.
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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