where can i get a mortgage loan with poor credit?

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3 Comments
  1. Reply
    joe g
    April 29, 2011 at 9:08 pm

    I need to know the answer to that one!

  2. Reply
    Dawni Do Right
    April 29, 2011 at 9:57 pm

    Guido & drug dealer loans (stated income) are all but gone since the sub-prime took a dookie last August.

    All lenders have tightened their lending guidelines. It’s not to say you would be totally unfinancable, but if your credit is bad now, chances are you will end up in a default situation a year or 2 from now, in a loan that has an escalated interest rate you can no longer afford & it cost you a fortune to get it.

    If it sounds too good to be true, it usually is a scam.

    Work with a reputable lender to start repairing your credit now & you will be further ahead than most in your situation. They can assist you in explaination letters, negotiate lower payoffs, etc. Maybe in a year’s time, you’ll have improved your credit to the point of being financable with a loan you can live with for years.

  3. Reply
    Mike L
    April 29, 2011 at 10:00 pm

    I would look into a mortgage broker. They have access to many lenders and are paid by the lender who will finance you. This way you get the lowest possible rate for your lower credit score because they “shop” around for you. You shouldn’t have to pay a cent to a mortgage broker.
    Try to get a fixed rate instead of a variable rate so you will know exactly what your payment will be, so you can budget accordingly. Hope that helps.

    PS: What kind of mortgage brokers in the two people’s question (oceanicloan_investments and clarksonloaninquiry) have yahoo email addresses? Sound like scam mortgage central to me.

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