Medical bills are a necessary nuisance. You need the medical care, but you may not always be able to afford the hefty bills that come along with the service. Sometimes medical bills get sent to collections while you wait for the insurance company to decide how much of the bill they will pay for you. […]
What’s the Difference Between Secured and Unsecured Debt?
When you have debt, you have one of two types – secured or unsecured. Before you take on any debts, it’s important to understand the difference so that you know what is at stake. Looking for Current Mortgage Interest Rates? Click Here. Keep reading to learn how each work and the differences between the two. […]
The Top Mistakes People Make When Settling Debts
If you are in over your head in debt, you have two options. You can file for bankruptcy or you can try to settle the debts. Typically, settling the debts damage your credit card the least, which is why many people choose this option. Looking for Current Mortgage Interest Rates? Click Here. If you think […]
The Required Amount of Equity to Refinance a Rental Property
Many homeowners find it helpful to refinance either to lower their interest rate or even to take cash out of their home’s equity. When you want to refinance a rental property, though, you have a few different requirements. Mortgages on rental properties have higher rates of default than those on owner-occupied properties which makes lenders […]
How to Compare Bank Statement Loans from Different Lenders
If you are a smart borrower, you will shop around for your mortgage. There are many lenders that offer bank statement loans, but not all programs are created equal. How do you know which one is right for you? It is important to understand how to compare the terms, rates, and programs offered so that […]
Are Interest Rates Higher for Borrowers with Irregular Income?
Self-employed and commissioned borrowers face a unique situation when trying to obtain a mortgage. Because their cash flow might not be as consistent as someone with a standard salary, it can be hard to document their income for qualification purposes. These borrowers are often left without a mortgage because of the difficulty with their income […]
Why Should you Take a Subprime Loan?
You hear the term subprime and you probably shiver. The nightmares people have to tell about the high interest rates and crazy costs may make you think you’ll never explore that option. Today, though, subprime loans aren’t nearly as bad as they seem. In fact, they can be a great way to get the loan […]
Types of Debts and Your Credit
Debt isn’t always a bad thing. In fact, you need some debt if you want to accumulate a credit score. You need a payment history that shows lenders and the credit bureau that you can effectively handle your finances. Looking for Current Mortgage Interest Rates? Click Here. Unfortunately, not all debt is equal, though. For […]
How to Use Non-Traditional Credit to Get a Mortgage
Do you have a thin credit file? It’s not that you have negative credit information, you just don’t have anything to report. This can turn lenders off from giving you a mortgage unless you have non-traditional credit sources that you can use. Looking for Current Mortgage Interest Rates? Click Here. We are all so programmed […]
Does Your Mortgage Approval Depend on Property Type?
Did you know that qualifying for a mortgage is more than about your personal qualifications? You could be the most attractive borrower in the world, but if the property type doesn’t pass the mortgage guidelines, you could find yourself without financing. Looking for Current Mortgage Interest Rates? Click Here. So what property types could put […]