If you are in the market to purchase a house or you are planning on refinancing an existing mortgage, you need to keep a watchful eye on your debts. Sometimes, however, circumstances require you to take out a new debt, whether it is due to a medical emergency, car trouble or any other personal disaster. When you are faced with several different methods of obtaining the cash … [Read more...] about Which Debts Affect your Credit the Least?
bad credit refinancing
Old debt can come back to haunt you, even several years down the road. If it has been a long time since you have made a payment and the credit card company has done everything possible to obtain the payment from you, they may charge the debt off. This does not mean that the amount no longer reports on your credit report; it actually reports as a charge-off, which is much worse … [Read more...] about Should you Pay off Those Old Debts Before Applying for a Mortgage?
Refinancing your mortgage might seem like a great idea when rates are low. You might see dollars signs in your head thinking of all of the money that you are going to save each month. Before you jump head first into a refinance, however, there are a few things that you need to consider, including whether or not your mortgage has a prepayment penalty, what the closing costs will … [Read more...] about 3 Things to Research Before Refinancing your Mortgage
The housing crisis of the last few years has put a damper on the number of home equity loans that are approved. This fact does not mean that it is impossible to get a home equity line of credit, but it does make it a little more difficult. If you have poor credit, you could wind up having to pay much higher fees or interest rates than you would have paid had you possessed … [Read more...] about Is a Home Equity Loan Possible with Bad Credit?
When you refinance your mortgage, you have what is known as a 3 Day Right of Rescission. This is a 3 day period that allows you to go over your mortgage closing papers and consider whether or not you want to keep the loan. If you decide during that time that you have changed your mind, you have the right to cancel the loan. The right to cancel is subject to certain regulations … [Read more...] about 3 Day Right of Rescission: Know your Rights