Bad Credit Mortgage Lender - What to Look ForWritten by Carrie Reeder
Continued from page 1
3. Is my mortgage broker being too pushy? If you feel your broker is being too pushy, there may be something in loan that is not in your best interest. Ask a lot of questions and don't be afraid to start searching elsewhere. When getting a mortgage loan, you don't want to be in too big a hurry. 4. Can I afford payment even I am not able to refinance for a lower rate within 2-3 years? Many people get into a sub-prime mortgage loan with a higher interest rate, just because they are happy to get approved, only to feel suffocated later, when they cannot refinance and get out from under high payment. If you don't think you could make payment for at least next 2-3 years with no problem, then you shouldn't be getting into loan. 5. What are my closing costs going to be, exactly? Bad credit mortgage lenders and mortgage brokers know that person they are extending loan to doesn't have as many options. These lenders and brokers can sometimes take advantage of that fact by upping fees at closing. Make sure you see what all of your fees are going to be in writing before you commit to loan. Compare those fees with other lenders and make sure they are comparable. If there are a little high, try negotiating with your mortgage lender or broker. They will usually be able to make changes there if they choose to. It helps to choose a sub-prime mortgage lender based on a referral, one who has a good reputation. Choose a company with a long standing reputation and make sure you feel comfortable working with them.
Carrie Reeder is the owner of www.abcloanguide.com. Her website is informational about mortgage loans. Her website also offers a list of recommended lenders for bad credit mortgage loans.
| | Parent LoansWritten by Vanessa McHooley
Continued from page 1
Types of Parent Loans Once you have determined your parents’ credit and their willingness to help you pay for college through loans, you must then find a loan. One option that you have is through a bank or other financial institution. Most institutions have some type of loan available to parents and students wishing to pay for college. Another great option is Federal PLUS loan, available through U.S. Department of Education. Simply fill out an application for this PLUS loan through your school’s financial aid office, and you can receive financial aid up to any amount left uncovered by other financial aid. Whatever you decision is, be sure that you and your parents discuss your loans options beforehand, and make sure that you have a plan for repaying these loans once college ends. This article is distributed by NextStudent. At NextStudent, we believe that getting an education is best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to get Parent Loans at http://www.NextStudent.com .
My goal is to help every student succeed - education is one of the most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD.
|
