When I worked as a loan officer, it was not for me of people with no luck, because he had thought of bad credit are unusual.
This is not really the case, even if it is fair to say that you are not able to go to your local bank, have a place in the manager's office and go with a mortgage.
However, there are alternatives, and you have a choice.
When you contact a broker, tell them your situation, to be honest and forwardwith them, otherwise you are wasting your time and yours, and believe me, whatever your situation, they have heard worse. Nine out of ten they will be able to help.
conventional banks are not the only ones to lend money. The agents have access to hundreds of banks with a variety of programs for people in foreclosure situations unique to the buy-out, 100% financing with bad credit scores.
I speak from experience because when I was aLoan Officer I'm loans for people in special situations.
The buy-out of foreclosure, bankruptcy, late payments on the status of the loan, the list goes on.
I sat with my clients, get information as much as possible in presenting their information to many different lenders to write for them. Most of the time I found one with a program to help my clients.
Remember, with unique situations, there is a risk from the bank, so they can not expect to getthe best rate in the world. But if it makes sense and should be the situation has developed, as it is worth.
So if you think your credit card or a bad situation prevents you from getting a loan, think again, there is probably a program out there for you, you have nothing to lose.