I have a bad credit rating. Do you think there is any chance?
Answer:
You can usually get a collateral loan (i.e., house, car), but your financing rate will be higher than average. If your credit is so bad that a conventional bank will not extend a loan, there are plenty of independent mortgage companies that probably will, at even higher rates.
yes w/ high very high interest rates
Yes, but you will have to pay a very high interest rate.
some banks do lend with bad credit rating but the interest is higher
There is always a possibility. The rate would be high and the terms probably tougher than normal.
You possibly can but the interest rate will be higher and you may have to go to a secondary lender rather than a bank, it depends where you live. For instance in British Columbia the credit union will give a mortgage to almost anyone their motto is "your breathing, you qualify".
You should take action though to improve your credit score if you have dreams of buying a house now or in the future, the first step is to order a copy and see whats there and see if anything is wrong, should be expired or doesn't truly belong there (I check mine every year and every hear I find things wrong).
Next, get a secured credit card to start building better credit and keep it paid off because the ratio of credit used to available counts towards your score.
Make sure you pay your bills on time.
For more information Bankrate.com has lots of tips on improving your credit score, getting loans, etc.
You can repair your credit at:
http://www.allsolutionsnetwork.com/cgi-b.
once you improve your credit rating, we can help you finance a home at:
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We can help you find a good home cheap at:
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-or-
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If you think your credit is not too bad, then just apply for a loan at:
http://www.allsolutionsnetwork.com/cgi-b.
And we will see if you can qualify for a loan right now.
If not, well once you repair your credit, we can help. We have no down, and bad credit loans, as well and programs for first time buyers that can help with the down payment.
regards, Lonnie Griffis
Well it would depend on what kind of bad credit you have. And how old. Have you reviewed your credit report?
You can at
www.annualcreditreport.com
Once you have reviewed carefully review the information on it. Dispute any duplicated information, pay anything within the last 2 years that has a balance of at least $250 and under. If you have any special circumstances with any of the previous debt, write letters regarding what happened. Usually lenders will look at the last 2 years, and as long as some of the creditors are not actively reporting. (But then nowadays they will pick it up after the fact as well)
Well that could be a start. Good Luck.
Here are many compnies offering bad credit loans. No matter how poor/bad is your credit you can apply for loan,
http://badcreditsloans.blogspot.com/.
Yes a high interest rate your credit rating needs to be above 500 to even be considered
with high rates i suggest you work on your credit. Get a copy of your reports from all 3 bureaus and dispute all negative information even if it is yours and this may help your score go up and also see if you can piggyback off a friend or relative.
ya but with a high interest rate but you could try to repair your credit and see whats up, click on the link
Do you know what your middle credit score is? Lender took at your middle score to qualify you. The norm is 580 or higher. If it is lower, you can get finanincing, but not the full 100 percent needed. If you find a property and a seller is motivitated in helping you, than they can do a seller 2nd - for the difference.If they are willing to do that. There is FHA at 97 percent of the home, and the seller can come in with up to 6 percent (3 percent of the 97 to make it 100 percent financing and 3 percent of your closing cost). There are programs out there that will also do the 3 percent needed AmeriDream and nehemiah. With a government loan - collections and judgements will have to be paid (most ppl do not know that) but for FHA it is true..
You may do a land contract - if you go this route, make sure you have the land contract recorded at the local court house, and make your monthly payments by check. After one year you can refinance the land contract - but lenders will want to see proof of your payment history, hence the cancelled checks..They will not take receipts...they will want the cancelled checks..
Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.
Go to these websites
http://www.nehemiahcorp.org/
http://www.fanniemaefoundation.org/..
http://www.fha-home-loans.com/
try this! http://www.jdoqocy.com/click-2059927-103.
Bad credit is one of the worst problems to have. however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-cons.
if it helps kindly remember me in your voting!.. cheers!
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