Posts Categorized: Credit Tips

How to Get a Home Loan With Bad Credit

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You can still find a mortgage for your home even with bad credit, but you'll need to look at alternative sources of financing.

It is truly disappointing that basic classes in finance and accounting have yet to be added as mandatory coursework for our nation’s high schools or colleges. When it comes to preparing America’s youth for life in the adult world, lessons like managing accounts, balancing budgets, and building credit are paramount for financial success. And yet, we release youngsters into the world without so much as a single lesson pertaining to saving money, spending wisely, and properly utilizing credit in preparation for the future. The end result, as expected, is a lot of adults trying to dig themselves out of debt and learning the hard way…
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How to Overcome Common House Flipping Issues

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House flipping may seem like an easy way to get rich fast, but there are many factors that can throw your plans into chaos.

Flipping homes is big business in America and can be fairly rewarding when done correctly. A lot of people jump into the industry without knowing much about the technicalities, however. Magazines and shows make house flipping seem rather easy, but there’s much more to flipping houses than simply buying and selling. And unless you’re rich, you’re going to need loans to help fund your flipping venture. Some people have had financial issues in the past, so naturally they are worried about being able to obtain home loans with bad credit. Today, you can find a lot of bad credit mortgage options, making buying a home with…
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Benefits of Private Lending and Hard Money Loans

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Consider taking out a loan with a private lender instead of with a bank to save you time and money.

Unfortunately, not everyone on this earth is qualified to receive a loan from the bank. A history of bad credit, no credit and high debt in your portfolio can really stack the cards against you, lowering your chance of being approved by most financial institutions. So what should a person do if they can’t receive money in the “typical” way? Those that often have a hard time borrowing money often turn to private lenders which are also referred to as hard money loans. So what exactly are the benefits of private lending? Glad you asked. Read on to learn the benefits of private lending and…
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Paying debts doesn’t always help your credit score

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It is generally accepted that if you pay off your debts, your credit score will go up. This is believed because it makes sense logically. If you pay off a debt, you owe less and you are more able to handle your other obligations. However, there are some instances where paying a debt actually hurts your credit score. Here’s why. When you have a collection account or a judgment on your credit report, the impact it has on your score is directly related to the age of that account. Unfortunately, when there is any activity on those types of accounts, they are treated as if…
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