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Bad Credit & Mortgage Loans

Posted By cixxfive 1254 days ago on Business

http://www.whitejacobs.com - For most people, getting a loan from a mortgage company is probably the most important move they will make in their lifetime. Those who are fortunate enough to have excellent credit will find the process relatively painless and straightforward. Those whose credit is far from excellent usually find themselves in an uphill battle in getting a bad credit mortgage loan.   If you fall into this second category, it may take a little work and time to get the loan, but it can happen! There are ways to repair your credit and get a decent loan with a decent interest rate. Understanding the major credit bureaus and what causes someone’s credit to fall can make a big difference. Once you understand what you are doing wrong, the easier it will be for you to clean it up so you will qualify for a mortgage!       The Three Major Credit Bureaus:   Equifax, Experian and TransUnion are the three bureaus that mortgage companies turn to for information on a potential home purchasers’ credit scores. Before the mortgage crisis that hit the United States, credit score around 640 to 680 was considered good credit. That rate has since gone higher […]
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