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July 11, 2006
Sub Prime Mortgage Tips: Home Equity Loan Consolidation for People with Less than Perfect
Refinancing your mortgage is an effective way to rebuild your credit, particularly if you have recently declared bankruptcy or otherwise have bad credit. With more relaxed underwriting standards, you may be able to get a home equity loan through a sub prime lender, sometimes known as "damaged credit" specialists, as early as six months after your bankruptcy discharge. Lenders classify borrowers into the following credit categories based upon their credit scores. These categories may vary slightly among lenders. Sub prime lenders offer B, C, and D credit, which means they offer credit to high-risk borrowers. For taking on these high-risk loans, sub prime lenders charge somewhat higher interest rates and
From Sub Prime Mortgage Tips: Home Equity Loan Consolidation for People with Less than Perfect
Posted by Russell at July 11, 2006 09:49 AM
