Bad Credit Doesn’t Have To Mean No Loan Help

Everyone faces unavoidable financial problems at some time and find that they are in an impossible situation and unable to meet their obligations ... rate for a home mortgage loan will depend upon your credit rating. If the credit score is 600 ... , but that is not necessarily true. There are two types of bad credit personal loans, secured and unsecured. [more...]

Date: 2009-01-16 09:36:37

Blog posts (21) | Videos (4)
 

I’m Hit By The Credit Contraction

A year ago, I was still getting awesome credit card offers promising a year without interest payments and other incentives. My credit score is over 600. Neither my score nor my financial situation has changed much ... credit cards with a cumulative limit of about $100,000. I went $20,000 into credit card debt in 1995 [more...]

Date: 2009-01-01 00:15:56

What to do if you’ve been turned down for a loan

Turned Down For a Loan?  Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

What to do if you’ve been turned down for a loan

Turned Down For a Loan? Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

Five Signs that You're Living Beyond Your Means

As most of you know, I love to tell people that spending less than they earn is the key to financial success ... No. 1 - Your Credit Score is Below 600 Not an issue for me, but having a good credit score is certainly a key part ... , though many FMF readers save much more. Good for you. Sign No. 3 - Your Credit Card Balances [more...]

Date: 2008-07-24 15:16:09

Daily Links: Chocolate Chip Cookies Edition

My wife isn’t a big blog reader. She reads my sites and the sites of our friends, but that’s about it ... featuring five signs you’re living beyond your means. Is your credit score less than 600 ... You have to own a credit card,” people always say, “if you ever want to rent a car.” But is it true? Jim [more...]

Date: 2008-07-23 23:47:28

What Are Adverse Credit Debt Consolidation Loans

Credit history refers to an estimation as to how an individual has preformed when it came to taking loans and their repayments ... a normal score of below 600 is considered poor. This results in adverse credit history. We also ... . On that basis only a score is calculated which is known as credit score which depicts [more...]

Date: 2009-01-10 22:43:36

Pre-Payment Penalties and Second Trust Deeds

This was originally from February 2007. The situation as to what loans are available has changed quite a bit since then, ... . I am a DELETED with a credit score of 801. My wife is a part time DELETED with a credit score of 814 ... to $600. Both loans do not have a prepayment penalty. I've only been paying the interest every [more...]

Date: 2008-07-24 16:28:13

What Has Happened to Real Estate Prices?

by Mary Bush Back in the late 1990’s and in the early part of the 2000’s banks had tougher guidelines to purchase a property when using conventional financing. Banks would lend you money based on your debt to income ratio and your credit score ... payment around $600 including principal, interest, taxes, and insurance (PITI). Most investment [more...]

Date: 2008-12-21 13:24:48

What Has Happened to Real Estate Prices?

by Mary Bush Back in the late 1990’s and in the early part of the 2000’s banks had tougher guidelines to purchase a property when using conventional financing. Banks would lend you money based on your debt to income ratio and your credit score ... payment around $600 including principal, interest, taxes, and insurance (PITI). Most investment [more...]

Date: 2008-12-29 12:10:23

GMAC Is Taking Your Bailout Tax Dollars and Lowering Its Lending Standards

In a scene reminiscent of a time before the recession, GMAC, the lending arm of General Motors, ... ? According to Equifax: 15% of the U.S. population has a credit score below 600 35 ... car loan applicants.  GMAC recently announced that that it would lower the minimum credit score [more...]

Date: 2009-01-06 13:30:45

Good News On Mortgages

Good news on getting financed! Well, it seems that things might not be as grim after all for those of you trying to obtain financing! If you have a credit score in the upper 600’s, and a minimum of 3% (going up to 3.5% in January) down, you should still be able to obtain a mortgage! Contact us if you need assistance in obtaining [more...]

Date: 2008-10-23 15:22:50

Current Real Estate Market Requires More Patience

If you're one of the few sellers out there who has such a uniquely special (is that redundant?) ... and credit score in the mid 600's...last year he could have gotten 90% financing...NOT NOW. Market [more...]

Date: 2008-08-21 16:44:51

Demystifying Boat Loans

If you have decided to take a boat loan you need to keep a few points in consideration ... for three years. If your credit score is less than 600 then the situation may be difficult. Lenders [more...]

Date: 2009-01-16 05:31:21

Refinancing Your Mortgage

Refinancing Your Mortgage Posted by Internet Guru at December 7, ... credit record, but you need a credit score of 720 to access the lowest interest rates. You must fully ... will buy up to $600 billion of mortgage debt. BusinessWeek’s personal finance editor Lauren Young spoke [more...]

Date: 2008-12-07 14:19:44

Firm Cries Foul on Credit Reporting, Mortgage Loans

Nearly one in two borrowers is plagued by medical collection accounts that are lowering their credit scores and limiting their ability to get a ... mortgage, said mortgage and credit expert Rodney Anderson, of Rodney Anderson Lending Services, in a press release Monday. When the Federal Reserve announced its plan to invest up to $600 billion in ... [more...]

Date: 2008-12-08 16:04:24

Good News For Buyers Is Always Bad News For Sellers

The Desplains Times reports from Illinois. “Last month Dan decided to stop paying his mortgage. It was hard for him ... keep dropping,’ he said. ‘They go down by about $5,000 every month.’” “Dan’s credit score has been reduced from 750 before he purchased his townhouse to about 600 now, but he’s philosophic [more...]

Date: 2008-06-12 14:48:03

Mortgage Interest Rate Drop Possible with Treasury Intervention

Treasury Secretary Henry Paulson is considering a new plan to reduce mortgage rates in another bid to revive the U.S ... for the lower rates. There are already a number of additions to rates due to credit score, loan ... is enormous. We saw the results of the investment of $600 Billion into the MBS market last week [more...]

Date: 2008-12-04 07:30:46

Re-visiting the Car

While I dream about owning a Nissan GTR that I saw at the Chicago auto show, in reality I drive an old Nissan Altima about 10 years old ... (through their financing arm GMAC) stopped financing (for sale or lease) customers with a credit score ... as a starting price point, and the average rate of 6.5%, you are paying about $600 / month. However, that “ [more...]

Date: 2008-11-10 14:59:53

Mean Street: Why Lehman Brothers Doesn’t Matter Anymore

Yesterday’s precipitous 45% decline in the shares of Lehman Brothers took the broader U.S. stock market down by almost 3 ... . But the vultures are circling. A five-year credit-default swap on Lehman debt now costs almost 600 basis points ... U.S.-focused investment bank with a market cap of around $5 billion. There are a score of billionaires [more...]

Date: 2008-09-10 11:19:00

Is Peer To Peer Lending Coming Into It’s Own?

For several years now, the peer-to-peer lending has been gaining traction as a valid way to borrow money without going through a bank via social ... with at least a 600+ credit score returned in the 9-10% range on an average annual basis. Not bad. Loans made to borrowers with less than a 600 credit score lost a significant amount of money. Defaults [more...]

Date: 2008-12-31 18:25:01

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