Bad Credit Home Loans – Low Mortgage Rates in New York Subprime Blogger (blog)
14.12.09
If you can save one full percentage point on your mortgage refinance than it is worth it for you to go through this effort. Going through the refinance process is not the easiest process in the world but it is something that could save you hundreds of dollars a month on your monthly mortgage payment. This money that you normally would not have had can be used to pay off other debts and bills.
There are many lenders who are currently advertising very low mortgage interest rates. It’ll be a good idea to contact a few of these lenders and see if you will qualify for a low rate. If you are extremely bad credit borrower you might want to specifically search for lender that works with bad credit borrower’s. This will make things much easier as they will understand the position you are in.
It is very important that you do a good amount of research on the refinance process. With the amount of free resources available online there is no reason that you should not do your research and know what every step of this process is. By knowing what the next step is going to be you could save yourself time and money and end up getting yourself a lower interest rate.
Source:
You may fill this form to ask for payday loan
Is there such thing as a TRUE Bad Credit Home Loan?
May 18, 2007 by mudpuppie_80 | Posted in Renting & Real Estate
I don't have perfect credit, neither does my husband but we are diligently paying off our bills one by one. I have been looking into loans for people with bad credit and of course they are all over the place promising a future for our family. Then I fillout the Application and whammy I'm hit with an appology notice from yet another lender. I never believed for a moment that I would never own a home, I'm not even trying to get an expensive one. I have two boys, one five, one three, a 4 1/2 month old baby girl and I am due in December. I am begining to feel hopeless and beyond frustrated, I don't want our kids growing up in apartments their whole lives, I'd like them to have their own yard someday. There are a lot of "Bad Credit" loans promising to help but they never really mean it - what gives? Can anyone help?
Bottom line go with a lender that will work for you to either get you approved for an FHA loan or a subsidiary loan based on your income. You can own a home, its just a matter of finding the right person who has a conscience about their job. There are so many programs out there for you to look into. I am with a National Lender that helps families like yours everyday by putting them in a house by using all resources in your area. If I cant put you in a house now I surely can put you on a tracker so you can buy one soon depending on your scenario. Lets get those kids of yours in a house shall we? Email me and we can get started.
FORGET_FORECLOSURE_FIGHT_BACK | May 18, 2007
Don't fall prey to predatory lenders. Sure, someone may finance you. But the idea isn't just to get financed when it comes to a long-term commitment like a home loan. The idea is to get financed at a good rate. So take a step back, continue paying your bills down and build credit. You can also dispute some items on your credit report - get a tri-merge report and see if there is anything that doesn't belong to you. Even if it DID belong to you, if you had, say, a collection that is now satisfied - dispute it. Chances are very good that you will get it off of your report and your score will improve about 20 points. Be patient, keep up the good work on paying the balances down, and then try again. See if you can get your mid-score to 620 before applying again.
Good luck to you and your family!
MphsBlues | May 18, 2007
I wouldn't use instanlend. That will cause the phones to ring off the hook for the next few days as numerous lenders run your credit, call you consistently, and only will give you more turndown letters. You need some REAL help.
Here is where to begin, your are doing the right thing but just need a trusted mortgage advisor to help navigate the tasks of improving your credit in the best way to get approved for the home you want to buy.
I could probably fill this page with consulting advice but if you want to get moving forward and accomplish your goals you need to find a person who will work with you and not leave you with a turndown in your hands and an empty roadmap to figure out what you need to do. This is where mortgage planning begins.
There are only a few mortgage advisors that sit with clients to manage their financial goals along with their CPA, CFP, and any other advisors that they work with. We make sure to help a client from beginning to end with the goal to obtain financial freedom. With you our immediate goal would be homeownership, then we will re-evaluate your goals to financial freedom. This would incorporate your childrens college fund, your retirement, as well as any other life goals and needs that will happen along the way.
There are some loans that can be done with Bad Credit but it is not for those who are just starting out, most of those loans are for people who have a 20-30% down payment of have quite a bit of equity in their homes if they are trying to refinance. Most people think that these loans are availble to those that need to purchase a home with little or no money down and most times its just not the case, if it was most likely the whole nation would be full of homeowners and you would not be in the situation you are in.
If you would like I could give you a free consultation and give you a hand in helping you achieve your goals.
Otherwise I hope this helps you, Good Luck
MtgAdvsr1 | May 18, 2007
If you want a link to get some information about credit and scoring just drop me a e-mail. If you are willing to do things to improve yourcredit you can do it but it will take some time, there is no magic overnight trick and any company saying they can increase your scores for a fee is full of it. The only things they can remove is inaccurate information which you can do yourself.
LeoLends.com | May 18, 2007
Please help me get a bad credit home loan?
May 15, 2008 by BRYCE | Posted in Credit
I have a credit score under a 400 from somebody else using my idenity. I make about 65,000 dollars a year but yet I cannot buy a home for my wife and children. Does anybody know who I can go through that isnt a scam it woould be greatly appreciated.
If you filled out fraud papers then most of that should come off your credit report. My fiance had that same problem. He was making 90k a year but his sister got all kinds of stuff in his name and then didn't pay. I think he should have pressed charges then but he doesn't want his sister to go to jail. Needless to say we can't buy a house either.
pookie | May 15, 2008
Contact Churchill Mortgage, they are very helpful, and will look at you the person and not your score, they do underwriting home motrgages.
wisegirl74 | May 15, 2008
Try a fha loan. Talk to a rep from country wide. Thats how I got mine. www.countrywide.com
msldybug2003 | May 15, 2008
Try using Prospser
http://www.prosper.com/
People bid to buy a loan that you pay them back.
cmatthaios | May 15, 2008
got to a not for profit credit counselor who will help you get back from the identity theft problem; and any other issues.
check with the Better Business Bureau to see if there are any problems with the credit counselor
miightymiighty | May 15, 2008
Can somebody please give me the names of companies that will give me a bad credit home loan?
May 14, 2008 by Melanie H | Posted in Credit
My husband and I moved out to kansas for his job and he never was moved there. The gas is outrageous!We need to buy a house where we are moving to because they dont have any options to rent. Its a town of like 600!Please help!
There aren't any..........sorry............everything is tight...........
kapn | May 14, 2008
www.rblendingsolutions.com is the web page for Smart Lending Solutions we have representatives all over the US an dunlike Lending Tree who sell your information to many banks who then contact you. We match you with the banks so you get the best deal instead of the bankers.
We have bankruptcy loans, refinancing mortgages, and divorce buyouts, and with a 93% approval rate you can get the loan you need.
Rebbecca R | May 14, 2008
As long as your income is good. I hope he was able to find another job after having moved out to another state!
You can try this website. If it can be done, they can do it.
Best of luck.
GodBlessAmerica | May 14, 2008
If you have a good job , you can ask for a loan at your credit union or Prosper. People may help you. More information at http://www.acreditlibrary.com/prosper.html and http://luccu.org
Uw N | May 14, 2008
can you get a home loan with bad credit with a co-borrower with good credit?
Aug 22, 2006 by cobra242003 | Posted in Credit
I am looking to get a home loan. My credit is pretty bad filed bankruptcy about 3.5 yrs ago. My income to debt ratio is pretty good though. I also am going to have a co-borrower that has perfect credit. What companies would you recomend that would approve me and give me the best interest rate for my stiuation.
Thanks
You will just have to shop around for the right loan. One thing the lenders will ask is if you were Released from the Bankruptcy...
Then too sometimes with husbands and wives if one or the other has bad credit they will finance the property with using 1 or the other on the loan and the note and not putting the other on the loan but putting them on the Deed to the property...
You just need to check around for the right lender and explain all the situation in person and take your co-borrower along...
Scott | Aug 22, 2006
yes, I was in the same situation. You'll end up getting a higher interest rate, but you can always refinance after a year.
Sometimes it's easier to shop with a local lender. They can find programs to help you that the online place wouldn't even bother with.
freetronics | Aug 22, 2006
Co-borrower might but you might not
Depends on the company you ask
mise | Aug 22, 2006
yes, but rude to ask someone to do that
tweety | Aug 22, 2006
Absolutely and positively, yes. Having a co-signer will increase the likelihood of your getting a better rate as well as the opportunity to get a loan in the first place. It's a free country. You can ask anyone you want to cosign the loan. There is nothing rude about it.
pcheesewhiz | Aug 22, 2006
yes but have them there with you at all times. nb
Baby | Aug 22, 2006
go to lowermybills.com and they will match you up with someone who can lend to you. hopefully your credit is at least 500, but even so, you may still have a chance. if you bankruptcy was discharged more than 2 years ago, its a non-issue, and the co-borrower will help with the income, but their credit is irrelevant if you are the primary and your credit is bad
e fitz | Aug 22, 2006
Yes, but you may have a high rate. I've never known anyone to have perfect credit, but as long as their income can cover all the debt then you can get an okay rate. It also depends on whether you and your co signer has worked the same occupation for at least 2 years straight.
Q~T | Aug 22, 2006
Yes you can get any loan you want.Using co-borrower is not going to help with the interest rate.You will still have to pay up thru your nose.
Joe P | Aug 22, 2006
You need to simply qualify. My dog can have loan these days.
John I
Loan officer
631-835-2957
joniannuzzi | Aug 22, 2006
cause you filed bankruptcy recently and even with a co-borrower that has perfect credit i think your chances are very, very slim...
Good Luck!
Lady C | Aug 22, 2006
Your rate will be a bit higher, but here's one problem: Does the co-borrower make more money than you? I once had an issue becuase I made more money but he had the better credit. Becuase I made the most money, they insisted that I be the "Primary". So... Look into this. Try a mortgage broker if you're super worried or do one of the biggies like Washington Mutual or Wells Fargo.
Amanda H | Aug 22, 2006
You'll get the loan, but you'll pay a higher interest rate than if you both where "ok" with the credit bureau.
If you shop your loan like you'd shop a car, chances are that you'll get the best rate +4.
jamesPurple | Aug 22, 2006
I found a solution that worked for me. It might work for you too.
I had some pretty serious credit problems…some were not my fault and, I guess, a few were. I listened to the so-called “experts” who said they could fix my credit report and I spent money I didn’t have. I didn’t have any luck trying to get my credit report fixed.
I remember paying for the services that these Credit Repair Companies had to offer. The companies told me that they could have negative items removed from my credit reports without any problem, Yeah, right. This did not happen at all. Most of the companies wanted to charge me a set up fee anywhere from $39 to $299 for their services. Not only did they charge this set up fee, most of them also wanted to charge me from $29 to $49 monthly while they “attempted” to repair my credit report. These companies offered no guarantee that their services would actually work and, believe me, they didn’t.
I was about ready to give up when I found a lady who had been through the same thing and who had found a solution. She figured out how get all the negative items removed from her credit report within 3 months without paying anyone a penny. She developed a fast, easy, step-by-step process that she guarantees will work for everyone. She sells the complete plan with all the help and instructions for $47.00.
I know what you are thinking…”another $47 down the drain,” and that’s kind of what I was thinking too. But, I figured that since she offers a 100% money back guarantee I had nothing to lose.
Well, I tried it and it was amazing. I got all of the negative items removed from my credit report and my credit score went from 553 to 715 in only 3 months. All I can say is that it worked great for me. I suggest you check it out. You can always get your money back if it doesn’t work for you. If it works even half as well for you as it did for me you will never even think about asking for a refund.
The information is on this site: http://clean-credit-secrets.com/
Paul | Aug 22, 2006
does anyone have any resorces on low or bad credit home loans?
Sep 26, 2007 by ... | Posted in Credit
I am trying to find a home loan but i dont have good credit my score is pretty low and i dont have much of a down payment does anyone know of any place i could look to mabey get a home loan in florida? I am new to the whole process and dont know what to look for a lot of places say bad credit is ok but you have to have at least a 600 credit score?? I dont know where to look anymore.
Thanks for the help.
You may qualify for an FHA loan. The down payment is low and the credit scores aren't as important.
Steveo | Sep 26, 2007
Been watching the news lately.
I think you wont get a sub prime anywhere
mosquitojammer | Sep 26, 2007
Bad Credit Home Loan?
Aug 16, 2007 by indychristine | Posted in Renting & Real Estate
My husband and I want to buy a house. We already have 2 houses, they are both being leased to own and we can prove it. My husband has had the same job for 25 years and has a decent income. We will only be using his credit. We have a trust account with 2 times as much money in it as the amount we want to borrow. We do not want to pay cash, we want to get a loan. The hitch is that we have bad credit at the moment. We just paid off all of our debt, all we have are the 2 houses but over the last 2 years our credit has suffered due to a bad financial situation. Does anyone know if there is any chance of people with our scenario getting a home loan? Any info will be appreciated!
There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.Companies that specialize in bad credit home loans; usually offer a wide range of options for consumers with bad credit<!--These options include Bad Credit Home Loans, Home Equity and Line of Credit (HELOC) Loans and different options for Mortgage Refinancing, making it possible for those with bad credit to realize the dream of owning their own home.You can find more information on Home Loans here,
http://badcredits.awardspace.com/homeloans.htm
They also offer a debt consolidation offer which helps the home owner organize a comprehensive program for controlling their spending. Many consumers with bad credit are grateful for the opportunity to receive a second chance, sort to speak-->Bad credit hasn't stopped them from purchasing a home. There are several programs available for people with bad credit that helps to restore their credit status and to live debt free lives.
orlando j | Aug 16, 2007
there are plenty of places that will do the loan i just refinanced at www.directlendingplanet.com
they had the lowest rate of three i had in hand one of was my bank.
they are a direct lenders and where the cheapest
ted f | Aug 16, 2007
Indychristine-
banks have and are continuing to tighten their standards. the reason is that the federal government is now monitoring the mortgage process and the loans. the federal gove is going after those who caused the sub-prime crisis and do not want any further problems with the economy.
i find it hard to believe that you have trust accounts, employment 25+ years, 2 homes plus the one you live in and you are still stating bad credit......
maybe (big maybe) the bank or mortgage company may work with you with a min of 20% down....but if you have these assets and are claiming bad credit...i really think there is something wrong here.
good luck :)
Blue October | Aug 16, 2007
Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgage.html
Gary H | Aug 16, 2007
Get valuable tips on bad credit from http://moneymentor.cashmatter.info... . It's a very useful website.
kamar | Aug 16, 2007
You may get your doubts very well clarified from http://moneytips.bestmoneymatters.info... . Best wishes!
thilaka | Aug 16, 2007
Below Site is Home of the Loan for every need. Learn about Personal Loan, Student Loan, Auto Loan, Business Loan, Home Loan, Bad Credit Loans or Loan Consolidation. Search for the lowest loan rates; compare lenders, Shop for loans. Loans made fast and simple. Don't worry about Bad Credit and No Co-signer needed. No Upfront.
http://lnk.in/56f2
marius V | Aug 16, 2007
How do I find a guaranteed home loan for bad credit with no down payment and amount of loan not limited?
Dec 14, 2006 by nikki | Posted in Renting & Real Estate
I am trying to find a home loan that I can get that is guaranteed for bad credit regardless of income, no money down payment and amount of home purchase is not limited.. We started into this home with a land contract. We put all of our money into it and now they are selling it right out from under us in just a few days. This has been checked and is legal. Please give me an answer as soon as possible.
Hi ,
Am a Mortgage Loan Officer and will be happy enough to get the loan to you .Please contact me at 480.751.4125 or write to me at kishaloy_bhowmick@yahoo.com.
regards,
kish
kishaloy_bhowmick | Dec 15, 2006
Loan shark?
kja63 | Dec 14, 2006
No such thing, every loan has a limit.
SuperAndy dot com | Dec 14, 2006
I don't know, but if you do find a loan like that, the interest rate will probably be insanely high.
bewitching_green_fairy | Dec 14, 2006
You are dreaming hun. There are some loans you might look into, but they are not what you described...you can look into a first time home buyer loan if this is your first home and also a FHA (federal housing authority) loan. The FHAs are not too popular because they require a lot of things be done to the home before they will approve the loan. It does not cost you anything to talk to a real estate agent and they can give you the best answers about home loans (its their business afterall) and where you can go to find out about them. Good luck. Angelee
angeleebhere | Dec 14, 2006
You can find a home in the very poor areas of town where the crime is high, the schools are bad, and the ambulance comes 3 hours after you call 911. Because the landlords are despirate to sell their properties occupied, they are willing to take a chance of you not paying.
Typically you have to have some source of income to determine the amount of money you can borrow. Nobody is going to loan you $250,000 when you make only $6.15 an hour. Secondly nobody can guarantee you a loan when you cannot guarantee that you will pay it back. So how can you expect someone to promise to loan you money when you have broken the promise to pay the money back to someone else?
Joe K | Dec 14, 2006
You should have had yourself put on title, then they couldn't sell it out from under you. There are no guarantees for bad credit. You're basically looking at paying a whole lot of money every month, either from PMI on an FHA loan, or from a really high interest rate on a subprime loan, and that's if you get one. Good luck either way.
togashiyokuni2001 | Dec 14, 2006
Um...Did your contract specify land and house? If your contract specifies "land" and no house is mentioned, you're the deed holders to the land and not the house.
Who is "they"? What exactly are they selling out from under your feet? The land or the house or both?
I've never heard of a loan without limits. Unless you're a vet, loans are generally not gauranteed.
Grace777 | Dec 14, 2006
Only in your dreams could this happen
AJ | Dec 14, 2006
Accept the fact that your bad credit is your fault. Suck it up, be responsible and fix your bad credit. That means paying all those bills that you racked up and don't feel like paying any more. Then keep all your payments current for about 12 months and look for a loan. It will be a lot easier with better terms. Good luck
pontooner | Dec 14, 2006
Is it possible to get a home loan with bad credit?
Mar 21, 2008 by Jennifer J | Posted in Credit
We would like to purchase a home listed around $125K and can put 20% down. Current salary is $192K. We have $500 p/m in vehicle payments, but no other long term debt. DH is ex military, so he should be eligible for a VA loan.
Should I even bother looking into this or do I just need to wait until enough time has passed that our credit no longer looks so bad?
It depends on how low your rating is. Lower scores don't necessarily mean you can't get a home loan, but you would probably have to go to a sub prime lender and that means a higher interest rate.
If you could find a lender, bite the bullet and pay the higher interest rate until such time you have raised your credit rating and then refinance at a better rate.
Also, a lot of lenders will bypass more stringent qualifying measures with 25% down.
drewxjacobs | Mar 21, 2008
Is it easier to get a home loan with bad credit if you have 20% to put down?
May 28, 2006 by pinkprincess | Posted in Credit
I own a home now, but want to move. My credit has gotten bad since my last home loan. I would have at least 20% to put down on a new loan, do you think I could find someone who would finance me?
The credit problems I have now are from medical bills and other very small debts. I don't have ANY credit cards, and my only other debt is my current house and car.
Probably, but you will not get the best interest rate. A big problem will be if you have too much other debt: car loan, credit card bills, etc. This plus the higher interest rate will limit how big a loan you can qualify for. Before you go house hunting, go to a reputable loan officer and find out whether you can get prequalified.
Another way to go will be to look for a house with owner financing.
I hope that you are taking steps to clean up your credit and to correct whatever mistakes you have made that have hurt your credit rating.
just♪wondering | May 28, 2006
what is an average interest rate for bad credit home loan?
Nov 14, 2006 by sweet lily | Posted in Renting & Real Estate
It can range from 5.5% to 14%
That is the most broad question i have ever read. It is a risk based business. The amount of risk will determin the rate. Hope that helps!
ondreforsure | Nov 14, 2006
Bad Credit Home Mortgage Loans Require These Precautions
Home mortgages are now in the eye of a financial storm. Yet, everyday more and more requests for mortgages are made to every financial institution that deals with this loan type. Those with bad credit can also access mortgage deals but need to take precautions in order to avoid disadvantageous terms on their home mortgage loans.
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