JJ Max asked:




If you need a bad credit mortgage loan, you should also try to improve your score. This is because your score can really impact how much you will pay for your home loan. Take a few steps to fix your credit, and you may be able to get a much better deal – and it’s not as difficult as you may think.

Check Your Credit Report

Look carefully for any mistakes. Do you see a bill that you don’t recognize or one that you thought you paid? Sometimes simple issues come up, that can be fixed with a phone call or letter to that credit card company or vendor. If you missed a $5 invoice, that could be dragging down your credit score by 30 points or more! This could mean the difference of paying hundreds of dollars a month more in higher interest charges.

Do not cancel any credit cards. To improve your score you should keep all cards open, even if you do not use them. If you cancel a card, it lowers your total amount of available money available to you, and your ratio of debt to total available debt worsens. Also, do not open any new cards or make any other large purchases. If more inquiries or large purchases hit your report, then it can negatively affect your score. So tread carefully with purchases or new cards right before you get a home mortgage loan or any other loan. Check out our website for more tips on improving your credit and getting a bad credit mortgage loan.

Connie

indy_64_99 asked:


I refinanced my home to get equity out of it. I closed on my loan and waited through the 3 day cancellation period. My new lender has excuse after excuse about why they are not paying! I now can’t cancel the loan as I a past the cancellation period but I also cannot get my equity money or the payoff of the original mortgage. Now what? Is this illegal?

DUSTY