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What does the government think about equity loans for bad credit?
Wiki User
∙ 10y ago
The government does not necessarily have a particular viewpoint on loans for consumers. However, the government has passed several laws to protect consumers, including those with bad credit, from predatory lending practices.
Wiki User
∙ 10y ago
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Is obtaining either a home equity loan or a home equity line of credit based on your credit score?
I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.
Should you consolidate your debt through a second mortgage?
You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Think carefully before taking this on. These loans require your home as collateral. If you can't make the payments
Where can individuals with bad credit get home loans?
Individuals with bad credit often think they are unable to get home loans. This is not true. With a little patience and research, they will find they can get home loans as well. Banks are often reluctant to lend to those with bad credit. However, if one is able to give a larger down payment and show financial stability you may have a great chance despite your bad credit history.
How long does it take to receive an answer if you qualify for a home equity loans?
If you apply on-line you could be approved instantly. Otherwise I think the time in which you can be approved varies between 21 working days a Month - depends on the bank you apply with.
What are heloc rates?
From what I've seen, i think HELOC rates are home equity line of credit. Not quite positive but they have something to do with housing. I've also have some knowledge about it being either rising or lowering.
Do you think people need to check there home equity status?
People should check their home equity status if they are interested in getting a home-equity loan. Home-equity loands provide lower interest rates than credit cards or other traditional loans so it is worthwhile to check out.
Is obtaining either a home equity loan or a home equity line of credit based on your credit score?
I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.
Should you consolidate your debt through a second mortgage?
You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Think carefully before taking this on. These loans require your home as collateral. If you can't make the payments
You created a ledger for your credit card under loans When you try to make payment tally gives error message What is the correct group for credit card in Tally?
i think it comes under loans & advanced (fixed assets)
Where can individuals with bad credit get home loans?
Individuals with bad credit often think they are unable to get home loans. This is not true. With a little patience and research, they will find they can get home loans as well. Banks are often reluctant to lend to those with bad credit. However, if one is able to give a larger down payment and show financial stability you may have a great chance despite your bad credit history.
Can you explain bad credit loans to me?
I think they do work with high interest rates. They will give you the money you need but with higher interest than someone with good credit would have. But it can also help you if you can afford it.
What is the average credit score needed for private student loans?
Scroll down and it tells you exactly what I think you're looking for. Good Luck.
Is it bad to have multiple car loans at once?
The amount of loans, period, will affect your credit rating. Part of your credit rating is how much money they think you can handle at one time, i.e., your debt load. Therefore, the more you load on, the less other creditors would be willing to extend you. However when you have the loans paid off, and they see you handled 'x' amount wisely, they may extend your credit to handle more, which raises your score.
When a widowed parent dies in California are the children responsible for the debt owed by deceased parent for loans credit cards taxes etc?
When someone dies in CA the relatives of that person are NOT responsible for the debts owed by that person. The credit cards and loans would like you to think you owe the money, but you don't.
Where to Get a Home Loan?
Someone who is looking to get a home loan will find that they have a few different options when it comes to lenders. The main options of lenders are: banks, mortgage companies, and credit unions. This article will examine some of the differences between these three types of financial institutions. Banks are for-profit institutions that are run by a private individual, a private company, or a public company. They care about making a profit. Banks provide services such as checking accounts, savings accounts, retirement accounts, personal loans, auto loans, mortgages, home equity loans, credit cards, debit cards, payroll deposits, money market accounts, certificates of deposit, educational loans, and many other financial services. When most people think of a financial institution, they think of a bank. Mortgage companies are lending companies that specialize specifically in mortgages and home loans. Occasionally, some mortgage companies will also offer home equity loans. However, they don't generally offer any other financial services. Mortgage companies are usually companies owned by a private individual or a private corporation. They are for-profit organizations that care about making money. Credit unions are an alternative to banks. Credit unions generally offer all of the same services as banks, but are owned by their members. Credit unions are also generally not-for-profit. Usually, credit unions have the lowest interest rates on loans. In addition, members of a credit union may have an easier time getting approved for loans than customers of a bank. This is because credit unions care about their members' finances. In addition, it has been said that those who take out a loan from a credit union are less likely to default on their payments than those who take out a loan from a bank. This may be because members of credit unions feel a connection and personal responsibility to the credit union, since they have a stake in it. The type of lending institution that is right for you will depend on several factors. You should take the time to do some research or consult a financial adviser before you jump into a loan application. The more prepared you are for the application, the more likely it is that your application will get accepted.
How To Get Student Loans Without a Cosigner?
If you have been looking for ways to pay for college, you have probably thought about taking out a few student loans. However, you might have found that a lot of student loans require that you have either a high credit score or a cosigner. If you don't have credit or if your credit is bad and if you don't know anyone who is willing to cosign with you for a student loan, you might be unsure of if you will ever be able to pay for college. Fortunately, there are ways to get student loans without a cosigner. First of all, you should consider talking to a financial aid adviser about taking out a federal student loan. Federal student loans allow students to borrow money for school without a cosigner, and they do not even look at your credit score, which means you will still qualify if you have bad credit or if you don't have credit at all. Along with applying for student loans, you can also apply for federal grants. Just like loans, these grants will provide you with the money that you need to pay for college, but you won't have to worry about paying them back in the future. Secondly, you could consider working on your credit score so that you won't need a cosigner in order to get a student loan. Although you might think it will be impossible to boost your credit score, it might be easier than you think. By getting a cell phone or cable bill in your name and paying it on time or getting a credit card and using and paying for it responsibly, you can boost your credit score, and this can help you qualify for student loans without the need for a cosigner. Lastly, you can consider looking for student loans that will allow students with bad credit to apply, even without a cosigner. Although this might be more difficult, a little patience might help you find a lender who is actually willing to give you a chance.
Is person to person loans the only option for a person with bad credit?
Most loan companies that claim to loan to anyone typically have something written in fine print that could cause you to think even further into your bad credit. I recommend sticking to the person to person loans because a lot of companies will attempt to trick you nowadays.
