|
Bankruptcy Articles |
|
Expert Author: Carrie Reeder | Summary If you have filed bankruptcy recently, you may wonder if you can get approved for a home loan. You may also wonder if buying a home after a recent bankruptcy is a good idea for you. Expert Author: Carrie Reeder | Summary If you have recently filed bankruptcy, you may wonder if its possible to get auto financing again. There are more and more loan companies all the time that have new programs to help finance people with bad credit. An auto loan is easier to get financing for than a personal loan or an unsecured loan because the lender can use the car as collateral against the loan, in case the borrower ever defaults or doesn't make the loan payments. Expert Author: Carrie Reeder | Summary Even with a Chapter 7 bankruptcy in your credit report you can still qualify for a sub-prime mortgage. Once approved, you can then use your mortgage to improve your credit history, qualifying you for lower interest rates in the future. Expert Author: Carrie Reeder | Summary Bankruptcy can make getting any kind of financing much more difficult. However, it's not impossible anymore to get financing, even a few days after the discharge of a bankruptcy. But, is getting a loan soon after a bankruptcy a smart thing to do? Expert Author: Carrie Reeder | Summary If you have a recent bankruptcy and are looking to buy a home, be careful of unethical or predatory lenders. Whether you are looking online or offline for a mortgage lender, it is becoming increasingly more common that subprime lenders are taking advantage of bad credit borrowers. Expert Author: Carrie Reeder | Summary Have you filed bankruptcy since you bought your home? Are you now looking to take advantage of lower interest rates by refinancing your home? You will probably soon realize how much more difficult it is to finance or refinance a home after a recent bankruptcy. It is not impossible though. There are many companies online that will help you refinance your home. Expert Author: Carrie Reeder | Summary Many people believe that once they file for bankruptcy they will have a difficult time getting a mortgage loan. However, there is still hope for being approved even with a recent bankruptcy. If you have bad credit and apply for a mortgage loan, more emphasis will be placed on your income your down payment. Expert Author: R. Lawrence Anderson | Summary Finding the best credit card after bankruptcy is not that difficult, if you know where to look and what to look for.
Let’s start by talking about secured and unsecured credit cards. When it comes to applying for a credit card after bankruptcy one question that a lot of people seem to have is: Should I apply for a secured credit card or unsecured credit card? Expert Author: R. Lawrence Anderson | Summary Here are three "Building Credit After Bankruptcy" strategies you can use to increase your chances of being approved for auto loans, credit cards, and home loans if you have a bankruptcy on your credit report. Expert Author: Carrie Reeder | Summary Individuals interested in purchasing their own home strive to maintain a positive credit rating. This is achieved by paying bills on time, having a low debt to income ratio, and so forth. Nevertheless, several lenders are eager to offer home mortgages to individuals with bad credit. These mortgages have a higher interest rate, which increases the monthly payment. Expert Author: R. Lawrence Anderson | Summary When it comes to credit repair after bankruptcy you have essentially three options:
1) Hire a credit repair company 2) Buy credit repair software 3) Do it yourself (free!) Before we go further, for the purpose of this article "credit repair" means the removal of any inaccurate or obsolete negative information from your credit report - not the removal of accurate non-obsolete negative information from your credit report. Expert Author: Frank Hague | Summary There are 2 sides to the changes in bankruptcy rules. It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate.
For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run). Expert Author: R. Lawrence Anderson | Summary If you are planning to apply for a car loan after bankruptcy, there are two key items you need to focus on:
1) Increasing your chances of qualifying for a car loan after bankruptcy 2) Reducing the interest rate on the car loan after bankruptcy Let's look at each item in more detail... Expert Author: R. Lawrence Anderson | Summary When it comes life after bankruptcy, most people are concerned with how it will affect their credit rating – and their ability to qualify for credit and loans as a result.
It’s a legitimate concern and one that should be addressed. With that in mind, this article will discuss life after bankruptcy, and what you can expect. Expert Author: Carrie Reeder | Summary After a recent bankruptcy, your loan options are limited. Those needing quick cash for home improvements, wedding expenses, or college tuition may be unable to secure the necessary funds. However, if you own a home, getting approved for a home equity loan following a bankruptcy is a realistic option. Expert Author: Carrie Reeder | Summary After a recent or past bankruptcy, most people want to get on the path toward establishing good credit. To accomplish this goal, some choose to purchase a home. While a new home purchase is a good way to rebuild credit and increase your credit score, purchasing a home after a recent bankruptcy may result in higher interest rates and fees. Expert Author: Carrie Reeder | Summary After a bankruptcy, you can get approved for a home loan. Just be prepared to pay several points above conventional rates. However, if you have a large down payment or wait two years, your mortgage rates will improve to near conventional rates. Expert Author: Carrie Reeder | Summary A 2nd mortgage loan after a bankruptcy is the easiest way to access cash. With online sub prime lenders, you can qualify for a mortgage as soon as your bankruptcy closes. But for near conventional rates, it is better to wait two years and build a solid credit history. Expert Author: | Summary Congress recently passed the most sweeping bankruptcy legislation in more than twenty five years. The Bankruptcy Abuse prevention and Consumer Protection Act was written to make it harder for most personal bankruptcy filers to have their debt swept away through a Chapter 7 filing. The new law will require that potential bankruptcy filers pass a ‘means test’ and most will not qualify for the Chapter 7 filing. Expert Author: Carrie Reeder | Summary After a recent bankruptcy, many people assume that purchasing a new home is impossible. No doubt a bankruptcy is extremely damaging to your credit history, and most lenders are not eager to loan you money or extend credit. However, there is good news for the millions of people who file bankruptcy each year. Contrary to popular opinion, homeownership after bankruptcy is very attainable.
|
Complimentary Industry Resources
We are pleased to offer you this exciting, new, and entirely free professional resource.
Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines,
white papers, webinars, podcasts, and more.
No credit cards, coupons, or promo codes required. Try it today!
No credit cards, coupons, or promo codes required. Try it today!