Line Of Credit
CREDIT SCORE SCRUTINY.: An article from: Mortgage Banking [H] [T] [M]
Lawrence Richter Quinn (Digital) Mortgage Bankers Association of America 2000-09-01
Release date: 2005-07-28
Price:
$5.95
$5.95
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Can I Obtain A Bad Credit Loan When My Credit Rating Is Bad ...
Many people are under the impression that due to the credit crunch bad credit loans are completely unavailable.
It is understandable that people are of this opinion, as the credit crunch was to a great extent caused by reckless lending particularly in the sub prime loan and mortgage markets in America. Lax underwriting was the order of the day way back then. Self declarations of income were available even for bad credit secured loan, mortgage and remortgage applicants.
All through history it has been impossible for non homeowners to be accepted for a bad credit loan. Even tenants with great credit ratings find it difficult to obtain a loan now. Lenders really want some sort of security when they grant a loan.
...News
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