Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Good people with less-than-great credit

Notify me of new replies via email
WilliamS | 05 Jun 2014, 12:41 PM Agree 0
A lot of people looking to buy in today's economy have less-than-great credit. What are some strategies or places to go to help these folks into a home?
  • IllinoisBroker | | 16 Jun 2014, 11:21 AM Agree 0
    Carrington does low-FICO mortgages: http://www.mpamag.com/mortgage-originator/carrington-vows-to-tap-market-for-lowerfico-borrowers-17934.aspx?keyword=carrington
  • karl krueger | | 30 Jul 2014, 09:56 AM Agree 0
    There are tricks that people with bad credit can try to successfully get a mortgage. Here are the most effective ones:

    1. Find a reliable mortgage broker specializing in counseling buyers with poor credit rating. It goes without saying that you’ll have to be ready to pay higher than normal though.
    2. Another good option is to improve your credit rating. Here, the best way is to convince your bank that you’ll pay off all your debt in future. Stop using credit cards till your credit score shows some improvement.
  • karl krueger | | 07 Aug 2014, 10:07 AM Agree 0
    There are tricks that people with bad credit can try to successfully get a mortgage. Here are the most effective ones:
    1. Find a reliable mortgage broker specializing in counseling buyers with poor credit rating. It goes without saying that you’ll have to be ready to pay higher than normal though.
    2. Another good option is to improve your credit rating. Here, the best way is to convince your bank that you’ll pay off all your debt in future. Stop using credit cards till your credit score shows some improvement.
  • nhmortgageexpert | | 12 Nov 2014, 12:15 PM Agree 0
    There are ways to bring up credit scores, not enough people follow through because they requires both time and effort.
    - Identify the bad credit. If it's a collection account, pay it. If you've been paying it late in the last 12 months start paying it on time.
    - If it's a collection, call the creditor and see if they will accept less than the balance as "payment in full". If so, get it in writing when you pay it off.
    - If you have trouble paying bills on time, sign up with a bank to do your banking online. In as much as possible pay all your bills automatically every month.
    - If you have too many bills to manage paying them all on time, you have bigger problems than not being able to buy a house.
    - If you don't have any credit at all, go to a credit union or bank and get a secured credit card. Charge a tank full of gas every month and pay it (almost) completly off every month. Or use the card to pay off one of those collection accounts and kill 2 birds with one stone.

    These "tricks" will clear up most bad credit. It will not help if your idenity was stolen by your evil twin, as happened to one of my customers, really, but it has been beneficial for everyone else I've ever advised.
  • muresan | | 19 Jan 2017, 09:08 AM Agree 0
    Hello,


    I am Direct Bank & Provider Mandate of BG,SBLC.MT103,MT799,MT760,Discounting
    and Project Funding,and can work hand in hand with Brokers and financial
    consultants around the world.

    We await your interest.

    Thanks

    Muresan.andrei
    107 George Street, West Central,
    London, W1S 2FD.UK <http://2fd.uk
    Pathlease.muresan@gmail.com
  • natasha | | 14 Feb 2017, 05:56 AM Agree 0
    My name is Jennifer Lora me and my husband are here to testify about how we
    use Lisa ATM CARD to make money and also have our own business
    today. Go get your blank ATM card today and be among the lucky ones. This
    PROGRAMMED blank ATM card is capable of hacking into any ATM
    machine,anywhere in the world.It has really changed our life for good and
    now we can say we are rich and we can never be poor again. You can withdraw
    the maximum of $ 10,000 daily We can proudly say our business is doing fine
    and we have up to 20,000 000 (20 millions dollars in our account) Is not
    illegal,there is no risk of being caught ,because it has been programmed in
    such a way that it is not traceable,it also has a technique that makes it
    impossible for the CCTV to detect you..For details on how to get yours today, email her on : [ lisaatmcard@gmail.com ]
    or call her on
    ( 12678734910 )

    NOTE: She is giving out the blank ATM card for free now
Post a reply