If you were recently declined for equity loans, you may want to perform another thorough assessment of the market, since lenders are now opening the doors to bad credit borrowers, no credit borrowers, and current home borrowers. If you were recently declined after applying for home equity loan, it probably is because you had defaults on your credit report, were lacklisted, had court judgments, or had filed for bankruptcy, or had problems on your credit report.
Have you been bombarded with offers of LOW mortgage rates in the mail? Are you wondering how can you get such a low payment?
Low rate loans are available at “teaser” start rates such as 1%, which can reduce your monthly payment drastically. This payment flexibility can help you stretch your current cash.
But watch out, these loans incur negative amortization! Your principal loan balance can increase every month, rather than decreasing. Also, most lenders will not loan a 2nd mortgage or line of credit with a “neg-am” loan.
The journey of life becomes bitter when the bad credit tags sting your financial profile. Anyone among these viz. CCJs, arrears, defaults, late payments, bankruptcy might be the reason of your bad credit. To disperse or reinstate is not a matter of concern but rather can surmount in a rational manner with the bad debts remortgage.
Bad debts remortgage is a secured form of loan. This loan plan ensures that applicants obtain loans without any hassle and within less time. If empowers or can say provides the bridge to shift the current mortgage to a new lender if he finds the offers more attractive and reasonable. Bad debts remortgage allows victims of bad credit to grab an opportunity to rebuild and least stabile the credit condition. A direct slash in the interest rates can be observed by considering the bad debts remortgage.
Jan 03
Your Fsbo Marketing Program And The National Do Not Call Registry
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Many of you have asked about operating your mortgage business without violating the new National Do Not Call regulations. Specifically, can using a For Sale by Owner (FSBO) Marketing Program be in violation of this law?
Here’s my answer…”Be very careful.”
First of all, you need to review the law. You can do that at:
http://www.ftc.gov/bcp/conline/edcams/donotcall/index.html
Second, pay attention to current rulings and interpretations regarding the Do Not Call Registry so that you can keep informed and adjust your marketing if necessary.
It’s my opinion that once a FSBO advertises or posts their phone number on a sign…Loan Officers and Mortgage Brokers can call them.