Avoiding Bad Credit and Repair

Document Sample
Avoiding Bad Credit and Repair Powered By Docstoc
					Avoiding Bad Credit and Repair

            Staying in contact with your payments each month can help you
    avoid bad credit. If you research the marketplace before coming to a
    purchasing decision, you are well on your way to avoiding bad credit and
    repair credit hassles. You want to consider all applications, including
    credit cards, student loans, mortgages, and car loans carefully to avoid
    being overcharged. Making the wise decision ahead of the game is the
    ultimate solution to maintaining good credit. Most people when taking out
    a home mortgage loan are not aware of the options available to them.
    Many will walk in the bank door, fill out the application, and accept the
    terms & conditions when offered to them. If you ever heard the many
    reports that swept the pages of newspapers, television and other
    advertising sources…families and individuals are filing bankruptcy
    because they cannot afford their homes anymore. This is because these
    people did not take the time to check the marketplace first and searching
    the options available to them. As you can see, the millions reported are in
    debt and searching for a way to repair their credit. The solution then to
    avoiding bad credit and repair is to research, invest wisely, make good
    decisions, and budget. Being informed and educated is two of the best
    tools offered to us. There are mortgage loans that offer overpayments and
    underpayments and these loans include vacation packages and lump sum
    payments to the borrowers. There are also other loans available that offer
    low mortgage monthly installments and low interest rates with insurance
    policies attached that will pay your mortgage if you are sick, unemployed,
    in an accident and so on. On the other hand, there are mortgage loans that
    have high interest rates, high mortgages, and balloon payments attached.
    When balloon payments are attached to home mortgages it is almost
    guaranteed in a few years you will be searching for a solution to repair
    your credit. There are very few home lenders willing to tell you the truth
    about the variety of home loans available. Most of the lenders are making
    money and you are a source of income. It is important to scope the terms
    & agreements carefully as well as reading all fine prints on any loan
    contract before you sign. If you want to avoid bad credit and repair, you
    want to stay on the right path. Loans are agreements that are made
    between two parties and attached are interest rates and other fees. If you
    are applying for a home loan and want to avoid bad credit, it makes sense
    to learn what the fees include and how much those fees are. Anytime you
    take out a mortgage loan there are upfront fees attached. In some cases,
    you can get a home for little or no cost. Searching the marketplace can
    save you time and money.
        Some home loans offer an ‘acceleration clause’, which covers you
if you miss mortgage payments. The lender will apply the clause by
allowing you leniency providing you make payments the following month
on time. This type of loan is great for avoiding bad credit, foreclosures,
and repossessions. The marketplace is swarming with realtors and other
sources that will help you get a mortgage loan affordable to you with
benefits included.


       Car Loans
       If you are applying for a car loan, it is also important to research
the marketplace carefully before agreeing to any terms & conditions.
Make sure that your find the best deals affordable to you.

        College Loans
College I learned a golden rule that applies to everyone. This rule is that
most car dealers up the fees on cars 15%. This means if you negotiate with
the dealer you can get a reduction on the vehicle up to 15%.

       Credit Cards
       Another word of advice is when applying for credit cards you want
to sway away from cards that have fees attached and high interest rates.
Avoid credit card offers that have upfront fees offer a high line of credit.

        Student Loans
        You also need to consider student loans. You may be qualified for
a student grant from the government. This is the first place you want to
start before committing your self to a loan agreement.

				
DOCUMENT INFO
Shared By:
Tags: credit
Stats:
views:16
posted:5/26/2012
language:
pages:2