Bad Credit Mortgage Loans – How To Get Approved

Written by Carrie Reeder


Persistence isrepparttar key working toward getting approved for a bad credit mortgage loan. There are many factors that you, as a borrower have control over that can help you get approved faster and easier. There are guidelines that most sub-prime lenders go by that, if you know them, can help you move throughrepparttar 135093 process without getting stuck, unable to get financing.

If you have a bankruptcy or foreclosure, even if they are recent, do not despair. Many sub-prime or bad credit mortgage lenders have what’s called, guidelines for bankruptcy or foreclosure seasoning. That means that they have a set amount of time that must go by fromrepparttar 135094 time of a bankruptcy or foreclosure before they will lend to a borrower. Usually this time is 2-3 years, but many sub-prime lenders have no seasoning time, which means, if your credit score is above a certain point, you could get approvedrepparttar 135095 day after your bankruptcy discharge. Other sub-prime lenders have bankruptcy or foreclosure seasoning of 6 months or a year. The biggest factor here will be your credit score.

Sub-prime or bad credit mortgage lenders will look closely at your credit score. In order to get 100% financing with bad credit, lenders will usually need to see you have a credit score of at least 600 or higher. There are quite a few things you can do to raise your credit score to be above this 600 mark. Here are a few suggestions:

1. Check your credit report for inaccuracies. Make sure all accounts included in bankruptcies and foreclosures are reporting accurately. If they show up as an open collection or unpaid account, charge-off or something else, this could be unnecessarily hurting your credit score. It will look like another, separate credit blemish instead of justrepparttar 135096 one. Make surerepparttar 135097 bankruptcies and foreclosures are reporting accurately. Make sure accounts that are paid off, show up as being paid off, or accounts that are closed, show up as being closed. 2. Pay-off any small collection accounts or past due accounts that you can. Every account that you pay off will help boost your score. Once you have done this, get a letter of notification thatrepparttar 135098 account is paid off and talk to your lender. Most lenders have programs where they can, for a $75 fee per item, provide proof torepparttar 135099 credit bureaus that an account has been paid off and have your credit and credit score appropriately adjusted within a day or two. This program is sometimes called a “wrap it up” service. If you are in a hurry to get financed, this may be worth it to you. 3. Pay down open credit line balances. If you can even pay downrepparttar 135100 balances on any open lines of credit, this will boost your credit score. Your credit score is lowered when lines of credit are maxed out. You can make good use of your money by paying down credit card balances to boost your score.

How to Prevent Identity Theft

Written by John Mussi


The best way to prevent Identity Theft is always to be vigilant. Never assume or take things for granted. Here are examples of some ofrepparttar steps you can take to protect yourself against Identity Theft:

•Buy a shredder – they are readily available from any office supplies company. They are also relatively cheap compared torepparttar 135013 cost of having your identity stolen.

•Do NOT throw bank statements, cheque books, utility bills or old credit cards inrepparttar 135014 waste or rubbish bins. Always shred them or cut them up by using a pair of scissors.

•When paying for goods at a shop or withdrawing money from a cash point machine always protect your passwords, codes, PIN numbers from prying eyes.

•Protect your personal information within your own home.You may be careful about locking your doors and windows, and keeping your personal papers in a secure place but an identity thief may not need to set foot in your house to steal your personal information. You may store your financial records, tax returns, birth date, and bank account numbers on your computer. These tips can help you keep your computer - andrepparttar 135015 personal information it stores - safe.

•Virus protection software should be updated regularly, and patches for your operating system and other software programs should be installed to protect against intrusions and infections that can lead torepparttar 135016 compromise of your computer files or passwords. Ideally, virus protection software should be set to automatically update each week. The Windows XP operating system also can be set to automatically check for patches and download them to your computer.

•Do not open files sent to you by strangers, or click on hyperlinks or download programs from people you don't know. Opening a file could expose your system to a computer virus or a program known as "spyware," which could capture your passwords or any other information as you type it into your keyboard.

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