Do You Need a Bad Credit Mortgage
Loan?
Imagine it: A home, with a bedroom for
each of your wonderful children; a yard with a pool
and a place for the kids to play with the family dog;
a patio with a picnic table to eat outside; family get-togethers
at your beautiful home. Isn't that a wonderful picture?
Then you look at your credit report, and the picture
is torn to shreds and you are left in tears in your
run down two bedroom apartment. Don't you wish you could
own a home? Don't you wish you could apply for a loan
and hear that magic word that brings tears of joy to
your eyes: "ACCEPTED"? Stop dreaming and make
it happen. Get that mortgage loan! Buy your home! Don't
take "no" for an answer! Don't be a victim
of your past and let your credit stand in the way of
such a beautiful dream! Apply for that loan and read
those words:"ACCEPTED!" Keep reading to learn
some tips towards getting a bad credit mortgage loan
to get "Accepted!"
First get a copy of your credit file from all the major
credit bureaus. If you do nothing else, get these. They
are the most important tool you have. With these you
will know exactly what the banks know. This is the only
thing they use to determine whether or not to risk giving
you the loan. Level the playing field by seeing exactly
what they see. That way you are not caught off guard
by anything. If you have some black marks on your file,
try to take care of them. Call the creditors and see
if you can negotiate with them. Call a credit counselor
and see if they can negotiate with them. If you can't
do either one, write out a statement about every black
mark you have. Include in this statement how you plan
to rectify the debt and/or black mark. When you apply
for the loan, be ready to defend your credit. Make them
want to give you the loan.
It is true that your credit report is about 90% of
the decision making process. There's that other 10%
that you need to use to your advantage. You are selling
yourself to the bank. You have bad credit. You want
a loan. Why should they take such a big risk on you?
They don't care about why your credit is bad. They just
see that it is. Don't let them stop there. Convince
them that you are worth the risk of giving a bad credit
loan to.
Look at all your black marks and negative things and
think of everything you can to turn it around. Practice
with a friend until you can go into the bank and have
an answer for anything they ask you. Go in confident
and well dressed and prepared and there will be no reason
for you to come out empty handed. Sell yourself to the
bank. The right package and right advertisement is what
they want to see, so bring it to them. Get your home.
Make your dream come true with a bad credit mortgage
loan and Start today!
