Posts tagged Credit History
Your Credit History & Settlement Loans
Jul 21st
When hearing the phrase “settlement loan” you might think it as a traditional loan. This is not the true. Most financial institutions do not lend money based on the merit of a pending lawsuit case. This is because financial institutions cannot absorb the risk behind it since they are funded by consumer monetary; especially with banks. This is why most people turn to settlement loan providers when in need of financial aid during a pending lawsuit.One of the best things about settlement loans is you do not have to repay the loan back if you lose your case. For example, More >
Sub Prime Loan Modification
Jul 11th
Sub-prime lending is a type of credit given to homeowners who do not meet the criteria for regular (“prime”) loans. A typical sub-prime borrower has a poor or limited credit history and a FICO score of less than 620. These factors make them a risky investment for regular lenders, which keeps them from taking out loans. To compensate for the risk, sub-prime lenders impose higher costs on their contracts. For credit cards, this is usually a higher fee for over-the-limit spending or late fees. Sub-prime mortgages usually have higher interest rates and stricter terms. Contrary to popular belief, sub-prime lending is More >
What Are Real Estate Short Sales?
Nov 15th
Real Estate Advisor asked: In many parts of the country, home prices doubled during the period from 2000 to 2005. During this same time, creative financing programs (e.g. zero down payment, adjustable rate loans, interest only loans, option ARMs loans, negative amortization loans, etc.) gained popularity and helped some people buy homes who would not normally qualify based on their income, debt level and credit history.Most real estate markets are now cooling, and some are even experiencing declining prices. In times of dropping real estate prices, the amount owed on a loan by some homeowners may actually exceed the value of More >
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