Welcome to Bad Credit Mortgage Help. We are advocates for people with past credit problems and experts at helping people with imperfect credit qualify for a mortgage with reasonable terms. We offer Home Loans for people with past credit problems at the Lowest Mortgage Rates in the country. We have decades of experience with many Bad Credit Mortgage programs such as FHA Home Loans, VA Home Loans, FHA Streamline Refinances, VA Streamline Refinances, USDA Rural Housing Loans and more.
To find out what you qualify for, please fill out our inquiry form to set up a free consultation.
JANUARY 2008
January, 2008 Authorized User to Boost Credit Score?
Many people are looking for ways to boost their credit score.
One popular tactic that has been used in the past was to add your name as an authorized user to someone else's positive credit account, and reap the benefits of the other person's credit history. In fact, there were even companies who "specialized" in this- connecting people with great credit with people with poor credit who didn't even know each other, for a fee ...
People ask me every day if credit report pulls will hurt their credit score.
Before that question can be answered, it is important to understand the difference between hard and soft credit inquiries.
A hard credit inquiry is one in which a creditor pulls your report for the purpose of extending new credit. An example is a mortgage company pulling your report for a home loan application, an auto dealer pulling for ...
As part of an economic stimulus plan announced by the government this afternoon, FHA loan limits have been proposed to increase to $729,750 or 125% of the median home price in a particular county.
This proposal would open the doors to FHA financing to hundreds of thousands of struggling home owners who did not previously qualify because their mortgage balance was more than the FHA limit for their county.
posted by RJ Baxter January 24, 2008 16:04 | permalink | comments(0) | Credit Repair HR3609 to Increase Mortgage Rates For All?
HR 3609, a new bill being proposed in Washington, could cause a significant increase in mortgage rates for all homeowners.
The bill would give judges the power to impose changes to primary residence mortgage loans that are subject to bankruptcies. If given this power, lenders would have to price in the increased risk to all loans to offset losses.
Congress is trying to help with the current housing crisis, but it seems ...
There seems to be a little confusion out there as to what it takes to qualify for the new FHASecure refinance program. So, hopefully this will clear it up for you.
To qualify for FHASecure, eligible homeowners must meet the following five criteria:
A history of on-time mortgage payments before the borrower's teaser rates expired and loans reset;
Interest rates must have or will reset between June 2005 and December 2008;
...
It amazes me how many people out there are not aware of www.annualcreditreport.com. This free service is the only one in existence where a consumer can pull their own credit report, once per year, from each of the major credit bureaus.
Other supposedly free credit report services require you to sign up for a free trial for credit monitoring or some other service, so the free credit report is just a hook to ...
If you are applying for a mortgage, credit card, auto loan, or any other "hard" credit inquiry, you should know that you information can and probably will be sold to third parties by the three major credit agencies, Equifax, Experian, and Transunion. This could open the flood gates for telemarketers to call you day and night.
They call them trigger leads. Your information sold to businesses selling similar or related products to what you applied ...
I posted earlier this month on the FHA Streamline Refinance loan, a great option for homeowners with bad credit who want to lower their rate, or refinance out of an FHA adjustable mortgage.
Several of the phone calls I have gotten recently were from home owners interested in a streamline refinance, but they told me they have bad credit.
You can do a streamline with bad credit because you don't have to "credit ...
