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

Blog posts (137) | Videos (240)
 

Credit Score Rating Scale

by William Blake It is important to improve or protect your credit scores ... . If your scores are below 450 it will be almost impossible for you to obtain any type of loan or credit ... system that is used to determine a persons credit scores. But it is helpful to try to understand [more...]

Date: 2009-01-06 14:23:22

How Real Estate investors can deal with bad credit reports

by Doc Schmyz Creditors and bankers approve or disapprove loans based on your credit worthiness ... . If you are trying to apply for an apartment complex the landlords may take a look at your credit score ... a good credit score is important in today’s world. However, what do you do if you happen [more...]

Date: 2008-12-29 21:20:55

A Rare Bank Without Defaults

No Credit… No License… No History? No Problem? Even before our current mortgage meltdown, ... of loans - all to customers who have no credit history, zero credit scores, no drivers license and nothing ... default on a loan. And that’s thousands of customers over a 20-year period. How can this possibly [more...]

Date: 2008-12-19 20:22:33

How to Clean up and Get a Higher Credit Score

At the moment, about 30 million credit card users in the United States have low credit score (below 620) ... . Insurance companies, employment firms and even landlords also use this system to check an applicants paying ... . Low numbers in the credit score sheets means slimmer chances for them to obtain loans [more...]

Date: 2008-12-03 07:00:10

Taking Home Mortgage Loans

by John Bear Planning to refinance your current mortgage? There are actually several options that are available for you ... loan approval solely on credit scores. In order to obtain a no doc loan, you must have a very high ... at a very good credit report, they reason that an applicant wouldn’t just do anything bad to tarnish [more...]

Date: 2008-12-31 15:42:48

Are You Thinking About Declaring Bankruptcy?

by Elma Evvie Declaring bankruptcy is one of the most difficult decisions and should never be taken lightly ... of before ou begin declaring bankruptcy that you may or may not know. 1. Your Credit Score: Your credit score is extremely important when it comes to getting new loans or even trying to get a job [more...]

Date: 2008-12-01 12:58:15

How Fast Can You Get A Home Loan After Bankruptcy?

One of our readers, Desiree, had this question: Is there any possibility of getting a home loan sooner than 2 years after a bankruptcy discharge? ... in bankruptcy”. If it doesn’t, then it is still counting against your credit score each month. Challenge Any ... reports, the credit bureaus will freeze your credit score until the dispute is resolved [more...]

Date: 2009-01-06 16:28:19

Real Estate investing and bad credit reports

by Doc Schmyz Creditors and bankers approve or disapprove loans based on your credit worthiness ... . If you are trying to apply for an apartment complex the landlords may take a look at your credit score ... reasons as to why having a good credit score is very important in today’s world. However [more...]

Date: 2008-12-25 10:33:44

GMAC Now Officially Requires 700-Plus FICO Score For New Car Loan [Financiapocalypse]

The Financiapocalypse continues. We just received a copy of an e-mail that went out at GMAC, the lending arm jointly owned by GM and Cerberus, ... : you'll now need a minimum 700 credit bureau score to get a car loan at dealer invoice or below from GMAC ... consumers who have a minimum 700 credit bureau score, with an advance rate equal to or less than [more...]

Date: 2008-10-13 22:20:00

More CRA Idiocy

Howard Husock has an exercise in cognitive dissonance in today’s NYT Op-Ed pages titled Housing Goals We Can’t Afford, and it begins: ... in all communities. Credit Score, Loan-to-value, percentage ... certain neighborhoods. If you lived within the redlined areas, regardless of your income, credit score [more...]

Date: 2008-12-11 16:05:13

What Are Benefits Of Good Credit?

By Darren Cason Most people know that if you have a good credit score, you get good interest rates and better offers on new loans and credit ... requirements. Many apartment managers, landlords, and those who offer leases will check your credit ... the credit report is only to verify past employment, but often the credit score is considered as part [more...]

Date: 2009-01-10 12:00:16

The truth about home down payments...right now

Filed under: Real EstateWith all the talk about the credit crunch and tough housing market, ... to get a mortgage. While it's true that credit score requirements are higher than ever -- somewhere north ... to get an FHA loan with a weaker credit score than you would need for traditional Fannie and Freddie [more...]

Date: 2009-01-02 23:30:00

GM Loosens Credit Restrictions

In a rare instance of seeing an immediate impact on consumers from federal bailouts, GM’s financing arm, GMAC, will lower its credit requirements from a credit score of 700 to one of 621 to secure car loans ... of providing credit to buyers, including an agreement with Midwestern credit unions. The new requirements [more...]

Date: 2008-12-30 16:13:12

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 Can You Expect After a Bankruptcy? The Time Line

Recently, someone called this article to my attention, which extolls the advantages of bankruptcy ... because of BK 4 years to 7 years: Credit score below 680, forget about getting an unsecured credit ... : No credit cards, loans, insurance rate skyrocketed. 1 year to 2 years: No credit cards except secured cards [more...]

Date: 2009-01-09 15:35:08

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 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

Payday Loans - Money till Payday

There are an inordinate amount of issues within the world’s economic markets at present ... to lend money is often based upon a credit score. However, with a payday loan this in no longer necessary as they do not require a credit score to successfully apply for a loan.Search online [more...]

Date: 2009-01-13 01:50:26

Home loan

by Tom Martens Before starting the homeownership or monthly mortgage installment ; ... to the prime rate set by the Fed. When determining this rate, your credit history and credit score are major ... online home loan calculators on financial or property websites to start working out what your payment [more...]

Date: 2009-01-16 14:42:11

The Importance of GOOD Credit

by Rob Kosberg We all should know that good credit is a “must have ... to get a loan, a mortgage, credit card depends on a good credit rating. Our “Credit Score” is most ... FREE Guide on Maintaining and Repairing your Credit [more...]

Date: 2009-01-03 12:23:01

Auto Refinancing Loan – Tips For Getting A Cheaper One

Current economic situation is forcing several car borrowers start thinking about refinancing their vehicles, ... to offer lower interest rates on your application. Having Less Than Perfect Credit While you can find auto loan approvals regardless of your credit score, you will be paying higher interest rate [more...]

Date: 2009-01-02 12:40:11

Rates for Friday Afternoon

It’s really interesting pricing rates these days.  I used to be able to use one lenders rates and compare to a pricing engine I use to make sure the ... ).  The conforming rate quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” ... .  Pricing based on credit score of 620 or better and loan amounts up to $362,790 for [more...]

Date: 2008-10-17 20:03:48

Finding The Right Credit Repair Service

If you're dealing with bad credit, you know that it can be really difficult to get a loan ... score. A credit repair service starts by looking at your credit report. Once they see ... to lenders and others who use your credit report to determine your trustworthiness will pay close attention [more...]

Date: 2009-01-11 20:51:20

Taking Home Mortgage Loans

by John Bear If you are looking to refinance your current mortgage, there are several options available for you ... and loan amount. The lender will then base loan approval solely on credit scores. In order to obtain ... with little or no documentation but just by looking at a very good credit report, they reason [more...]

Date: 2009-01-02 16:59:45

Debt Consolidation Loans For Bad Credit Dont Get Stung

It isn’t uncommon these days for consumers to be facing problems meeting their monthly payment obligations on loans and credit cards ... and have seen their good credit ratings suffer because of it. At this point they may be looking for a way ... things in mind to protect yourself from becoming a victim: Be Confident Your credit score may [more...]

Date: 2009-01-14 03:04:51

Friday’s Mortgage Interest Rate Update

The comparison of rates is based on when I last posted on (I skipped a week while our family was vacationing at Lake Roosevelt) ... is based on owner occupied with a minimum credit score of 720, “full doc” purchase with a sales ... %) improved 0.25% to rate.  :) FHA.  Pricing based on credit score of 620 or better and loan [more...]

Date: 2008-08-29 21:09:42

Mortgage Rates for Friday Afternoon

Mortgage rates are up about 0.125% from what I posted this morning and up a bit more than that compared to last Friday’s post as  you’ll see by the ... rate quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” ...  0.325% to rate FHA.  Pricing based on credit score of 620 or better and loan amounts [more...]

Date: 2009-01-16 21:28:17

The Credits Secrets Bible Can Help Your Credit Score

Credit is a necessity that we all need. But if it is abused or overextended, you could end up in a bad situation. Credit cards and loan debt is at an all time high and people are looking for ways to repair a damaged credit rating. A product called Credit Secrets Bible (CSB) is now available from the Consumer [more...]

Date: 2009-01-11 14:35:09

Faxless Payday Loan: Helping Hand or Quick Sand?

When we talk about loans in any forms, they are always related to debts ... in essence payday loan aims to help people regardless of their credit score, many accuse payday loan ... and instant remedies for their problems, including financial problems. Just like everything in life [more...]

Date: 2009-01-06 14:00:10

Types of Credit Repair Services

Types of Credit Repair Services December 31st, 2008 Subscribe To Our Feed Unfortunately, the world is set up to encourage borrowing ... loan, you’ll need an unsecured credit card and a lender to get by. Americans with credit scores from 300 to 700 are all wondering how they can boost their credit scores to that much-coveted 850 [more...]

Date: 2008-12-31 20:38:00

Important Information About Student Loans

by Kim Archer For those who cannot afford to directly pay for their college, student loans are typically used to provide the cash they are lacking ... show on the student’s credit score. There are also student loans that are granted to adults instead ... with higher education. New students can have access to several kinds of student loans. The most [more...]

Date: 2009-01-16 10:38:32

Get The Best Home Mortgage Loans

by John Bear Planning to refinance your current mortgage? There are actually several options that are available for you ... number and loan amount. Then the lender will just check your credit scores to see if you are qualified ... regarding their finances, income, and employment. Now, why are people with very high credit scores [more...]

Date: 2008-12-30 12:04:27

Credit Scores and Mortgage Loans: What Is The Minimum FICO Score?

Many people I talk with have had a few issues with their credit in the past.  Maybe an unpaid cell phone bill that went to collections, a few lates on a credit card, some have even filed bankruptcy in the past. Usually, if someone is worried about their credit [more...]

Date: 2009-01-02 09:19:18

Last Mortgage Rate Update of 2008

Mortgage rates are essentially unchanged from what I posted here last week ... properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score ... Fixed @ 1 Pt: 5.250% (APR 5.329%)  FHA.  Pricing based on credit score of 620 or better and loan [more...]

Date: 2008-12-26 19:22:20

Are You On The Credit Bureau's Blacklist?

By John Rasor your credit scores are not based on personal information like race, sex, or national origin ... report make up your credit score. Pretend for a moment that you are an underwriter working through ... , and deserve this loan, right? Could you be on the credit bureaus blacklist? Since [more...]

Date: 2008-12-22 16:07:07

New Year, Better Credit Score: Post 3

stockxpertcom_id12723501_size0-743295.jpg So FICO has branded you with a not-so-desirable credit score and you have made the resolution to bring ... month.  Remember also, not all debt is bad.  Items like mortgages and car loans on your credit report ... and see if they will take the late payment off so it doesn’t show up on your credit report [more...]

Date: 2009-01-10 15:55:57

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

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

Credit Drying Up For U.S. Small Biz

Reuters: As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans. Tighter credit could ... Development Center in Texas. “They are demanding higher credit scores and want more collateral before [more...]

Date: 2008-07-29 14:07:46

Local car dealers excited by Federal bailout of GMAC

GMAC mostly handles car loans for GM.  Due to the “credit crisis” GMAC tightened their lending standards over the last couple of months so that you could only finance a new car if your credit score was 700 or higher.  Note that 58% of Americans have a credit score of 700 or higher. The Federal Government got involved and used six billion [more...]

Date: 2009-01-06 01:26:57

Back in Action

Okay, the holiday’s are over, and it is time to get back to work ... to the loan amount (”LTV” or Loan-to-value in mortgagespeak), credit score, points paid, and how long ... back in November the Fed has started to purchase mortgage backed securities in an attempt force [more...]

Date: 2009-01-06 21:58:39

NAR should put its money where its mouth is

I’ve hesitated to post this since I’m not sure how it will go over with other real estate agents (or my boss!). But, why not? ... on that loan will vary, based on your credit score, amount you put down, where you live ... purchases. It suggests using federal funds from the Troubled Asset Relief Program (TARP - $700 [more...]

Date: 2008-12-20 16:35:30

GMAC to lend money to those with credit scores higher than 700

We already saw how the economy has affected the markets, from real estate and auto industries, to financial institutions ... lending money to people that have a credit score of more than 700, I did not even blink ... . Long gone are the times when 0% down and “no credit needed” loans were widely offered by lenders [more...]

Date: 2008-10-24 21:26:58

Cash to Close - A Basic Primer

Cash to close has always been an underwriting standard, but more people are running into it as a reason why they cannot buy that property, ... ." You have to remember it and keep it always just as much in mind as loan to value ratio, credit score [more...]

Date: 2008-12-01 14:46:23

FICO Fitness Fundamentals

A FICO score is the number that determines the interest rate you pay on credit cards, car loans and mortgages ... credit bureaus: Equifax, Experian and TransUnion. The FICO score is linked to just about every ... in your favor) Don’t apply for any new credit cards Review your credit report periodically to make [more...]

Date: 2008-11-25 16:08:53

The Questionable Aspects of The Housing Bailout Bill - H.R. 3221

By Xin Lu In my last article I wrote about the one aspect of the $300 billion dollar housing bailout that I thought made sense, ... of the mortgagor's current FICO or other credit scores, or any delinquency or default by the mortgagor under ... loan despite bad credit and past financial mistakes. This is encouraging for those truly trying [more...]

Date: 2008-07-24 23:05:15

Wall Street Hyperbole and the Real Estate Markets

Tell a friend to subscribe to the RSS feed and we *might* tell Santa to not leave coal in your stocking this year! ... ), provable income and assets in line with the loan amount being requested, and a credit score above ... .  Pessimistic, drama laced hyperbole sells newspapers and drives up viewership ratings.  It also confuses [more...]

Date: 2008-09-16 20:42:21

Helping Yourself Qualify for a Home Loan

There are a fair number of specific helpful suggestions to make in helping you purchase a home. All of them revolve around the loan ... , but if you don't have at least two open lines of credit, a given reporting bureau may not report a score ... thing is to get a credit score above 720. If you're there already, keep doing what you're doing [more...]

Date: 2008-06-20 13:39:52

Clean Up Your Credit and Save $100,000

What if I told you there’s a potential $100,000 smackaroos in it for you for just sticking with me for another three minutes? Here’s how: Clean up your credit score. Seriously, I’m not going to harp on about how stellar credit means paying less interest on loans, qualifying for lower insurance premiums, and sailing through things like landlord and employment background checks. You know that already. Instead, I’m going to let cold hard cash do the talking. [more...]

Date: 2009-09-22 07:22:31

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