Are bad credit mortgages still available to those borrowers who want to purchase their first home or refinance that high rate adjustable rate? Mortgage professionals get asked this question all of the time and the answer may surprise you. The reason that the answer may surprise you is that we seem to be inundated daily with financial experts telling us that the current economic recession was brought on primarily because of bad credit mortgages. Reading and listening to all of this would lead you
The Importance of Good Credit Have you ever been turned down for a loan or an apartment lease and wondered why? It could be due to your credit history. Let’s face it–our credit says a lot about who we are. It is our financial report card, and can affect many aspects of our lives. Professional credit counselors at ClearPoint Credit Counseling Solutions agree that having a good credit history is imperative to leading a financially fit life. What is Credit? Credit is defined as a contractual agreement
Refinance Your Auto Loan With a Bad Credit Obtaining a second loan to purchase a vehicle can be a challenging process if you have an awful credit record. Most of the financing institutions and automobile dealers demand a credit check before providing a refinance loan to buy an auto. Additionally, the clients must have a good credit score to acquire loans from financiers. However, in the modern society, it is possible to refinance your auto loan even if your credit record is bad. Refinancing a car loan is
applications quickly. Cash-strapped borrowers may not have the ability to wait a week or more to receive the funds needed to repair the family car, pay for a spouse to visit a doctor or patch a roof that is leaking. Therefore, they often turn to fast loans online or through a storefront. Despite their immediate need, many borrowers wonder why the interest rates on fast loans are so high. Why Interest Rates on Fast Loans Are High To understand why fast loans carry such high interest rates, it might
Ask anyone about the 2007-09 recession in the United States, and they will be able to tell you they know what it was. The reason why there was such a Great Recession, the second to biggest following the Great Depression, was because of the market failure in 2006-07 due to the real estate and mortgage sectors. The lost of wealth in the real estate sector led to a cutback in consumer spending. After years of economic recovery, citizens and residents are coming back to the market. But even then, the
Current Issues Project: Peer-to-peer Lending Advancements in technology coupled with new legislation have brought upon a game changer in the financial industry known as peer-to-peer to lending. Originally established as a way to help boost the economy in developing countries, peer-to-peer lending is expanding its capabilities into first world countries through online platforms. This new industry is experiencing tremendous growth, with pwc estimating that it could be a $150 billion business by
to connect borrowers who have been either denied by traditional banks for loans or borrowers who see cheaper loan service to lenders prepared to take a chance on those borrowers. Prior to the 2008 crisis banks were lending way more than they actually had and following the crisis, they gave significantly less than they had in order to be precautious, this allowed for P2P lending to emerge. The goal for banks was to make money off certain borrowers with a minimum credit score to alienate risk, however
Real Estate Investing Program - 9 Reasons Why Pre-Foreclosures Are The Best Way To Invest A real estate investing program is the easiest method to discover how to become a pre-foreclosure investor and even a realtor. I only say this simply because I am a Realtor and I discovered a lot more by learning the opposite side of the fence, in addition, it benefits me astronomically being a Realtor. This informative article may be my longest one ever, however it addresses just what you must know if you
with Bad Credit Description: This piece of article is going to reveal a number of very important facts on refinancing automobile loan with awful credit In case you must refinance auto loan with bad credit as a result of economic hardship and are troubled that you will have difficulty finding a lender who would be ready to work with you do not need to be concerned. This is because there are ample people whose situation is similar to yours. The fact is that the number of end users handling bad / no
withdrawing a large amount from my checking account. Since I have direct deposit, I had to go to the ATM before I started this experiment. I tried withdrawing more than five hundred dollars, but for some reason it wouldn't allow me. I then had to go inside the bank and found out ATM debit cards usually have withdrawing limits based on account type and availability on funds. The personal banker asked me if I would like to increase the amount I can withdraw at an ATM? I replied to personal banker “I usually