Traditional lending sources will limit their programs to those with a score above 500. Many borrowers have scores that are near or below this level. What can you do if your score goes below 500?
The sad truth is that the only loans available for these borrowers is through private sources, sometimes referred to as “Hard [...]

Popularity: 8% [?]

The California Association of Mortgage Brokers (CAMB) has issued a warning to homeowners to beware of advertisements claiming they can relieve you of your high payments and can qualify you for a 1% interest rate even with bad credit. This is simply not true.
It takes good credit to qualify for a 1% teaser rate (which is [...]

Popularity: 2% [?]

It seems you can’t go to an internet site that doesn’t have some sort of banner prompting you to click to find out what rate you can get. They will use bait and switch tactics from advertising rates that are not available unless you pay ridiculous fees to hiding points and calling them something else yet claiming “no [...]

Popularity: 2% [?]

Today New Century Mortgage announced it is filing for chapter 11 bankruptcy which is no surprise given recent trends. Since January of this year they were cut off by major lenders and have now announced criminal probes into it’s practices.
As with the corporate meltdown on Wall Street a few years back, I believe this will [...]

Popularity: 2% [?]