Credit Repair Articles

As the term suggests, a secured loan is a form of financing that is guaranteed by the submission of collateral. The collateral can be a home or other valuable asset that matches the value of the loan. By pledging collateral, the lender is given assurance that in case the borrower defaults payments, an available resource [...]

A home purchase is probably one of the biggest buys that a person can make. And because it is such a big investment, mortgage lenders often require good to excellent credit history before granting a loan approval. What if you have a history of bad credit? Can you still afford to buy a home?

Having a record of bankruptcy or foreclosure in your credit report is obviously a negative remark and can send out a bad impression to future lenders. Does this mean that you can never get approved for another home loan? The good news is, you can still acquire a new loan despite a history of bankruptcy or foreclosure.

Lenders do not simply approve mortgage loan applications. Lenders also want to make sure that the money they will be lending will be paid back. Naturally, lenders would check on the borrower’s credit worthiness by examining their credit report.