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What do credit mortgage companies do when faced with someone with bad credit?
Wiki User
∙ 10y ago
Some companies are capable of underwriting their loans to customize them to meet the needs of their customers. It is very difficult for the banks to buy and sell mortgages when they underwrite them. Most major banks will not change the terms of their loans for this reason.
Wiki User
∙ 10y ago
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How can you compare that which prepay credit card is better?
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Can you get a loan after foreclosure?
It is possible for homeowners to get a loan after foreclosure, but it will not be easy to qualify for a new mortgage right away. The best strategy may be for former foreclosure victims to work on improving the credit they still have open, then taking out new small loans, and finally working up to qualifying for a new home loan. Just after a foreclosure, homeowners may have severely damaged credit, depending on how far behind they were in the mortgage and if they missed payment on other open credit lines. Borrowers who missed payments on credit cards, car loans, and other debt will have a more difficult time improving their credit than homeowners who fell behind only on their mortgage. There are numerous resources for homeowners to begin improving their credit scores, either through a third party that specializes in credit repair, or on their own through the use of self-help websites. A few common tips include keeping on time with all other bill payments, making small purchases every month and paying off nearly the entire balance (but carrying a small amount from month to month), and disputing old or inaccurate data that is still listed on the credit report. It may take upwards of 1-2 years for debtors to improve their credit scores significantly after a foreclosure has taken place, but this time should also be used to begin a savings plan. When the time comes to apply for a new mortgage, it will be important to have some sort of down payment to offset the relatively recent foreclosure. But another step former homeowners should take is to open up small lines of credit even after the foreclosure. Rates and payment terms may not be great, but if they are able to keep these new lines open and on time, this will reflect well on their credit histories. Of course, this is not to say that borrowers should take out dozens of loans, but paying off a few old accounts and opening up new ones and keeping them up to date can impact the credit score. Within a few years after the foreclosure, a family may be able to qualify for a new loan to purchase a home again. The most relevant factors will be how credit has been used since the financial hardship, and how much the borrowers are willing to put down on their new home. In fact, banks may not loan anymore than 75-80% of the purchase price of the house with a foreclosure on the applicant's credit reports. So the savings plan may be the deciding factor. But a consistent plan of credit repair, maintaining a good history of credit use, and saving up for a down payment can have remarkably positive effects for people who faced foreclosure just a few years ago. A foreclosure does not indicate that it is impossible to get another mortgage, but it does mean that it will take more work than usual on the part of the borrowers to prove they are credit worthy and deserve a second chance to be given a loan to purchase a house.
What can you do if your wife opened credit cards without your consent?
A friend of mine faced this before. he closed the joint bank account and opened one in his name only. canceled the credit cards and placed an AD in the classifieds that he was responsible for his debts only.The wife can get credit on her own and if she fails to pay the bill the husband can still be held responsible for the debt. Good Luck.
What is work opportunity tax credit?
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to any for-profit businesses that hires individuals from certain underemployed target groups who are faced with significant barriers to employment. There are currently 9 ways to qualify for the tax credit. You can either file the paperwork yourself or there are services that will handle the process for you. This is the route that I have taken. If you are looking for a service, I would recommend centivise.com they handle the whole process for you and only bill you when the tax credit is received. So there is no start-up cost and no hidden fees. They also have the lowest fees in the industry.
Pay off a repossession does it get removed from your credit report?
Paying off a repossession will not generally get it removed from your credit report. If you have a good faith basis for disputing the deficiency on your credit report, you should do that. Many consumers have very good arguments as to why they do not owe the deficiency they are being charged by lenders. In addition to disputing the deficiency on your credit report, you want to be sure to defend any deficiency action brought against you by a creditor. Do not default on these lawsuits. When faced with a competent defense, most creditors, debt buyers in particular, cannot prove their case against you. Winning the case is court certainly goes a long ways toward providing you with a sound basis to dispute the alleged debt on your credit report.
How can i access my business credit report?
To access your business credit report or to have one created you will have to pay someone like Experian or from any credit reporting bureaus to do the research for you. This will usually cost you around twenty-five dollars. A business credit score is basically the asessment of risks faced by each business and a comparison with other companies.
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hypocrite
What does it mean when a guy is 2 faced?
One is said to be two-faced if they display contrasting attitudes towards someone
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In the 1950s, railroads faced competition from the airlines and from trucking companies.
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There are many problems faced by multinational companies in host countries. The main problem is the huge cost of labor in the host country so as to be able to coordinate the other branches in other countries.
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she faced absoultyly nothing she didnt even do anything, she killed her older sister and took al the credit that her older sister mary had worked for
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You can't ! If you have feelings for someone then you cant do nothing about it. You love them and it's time you faced it!
What is a popular emigrant mortgage service in the UK?
Best Mortgage in UK is MariannaFs. They are giving fee free mortgage advice. Embark on the exciting journey of homeownership with MariannaFS, your dedicated resource for First-Time Buyer Mortgages. As you search for a "mortgage broker near me," MariannaFS stands out as your local expert, ready to guide you through the intricacies of securing your first home. Our team specializes in understanding the unique challenges and opportunities faced by first-time buyers,...
Problem faced by the small scale industry in getting fincial assistence from bank?
The Main problem faced by a small scale industry in getting financial help from the commercial banks are 1. Lack of Credit worthiness
