http://www.badcreditrates.com/articles/blog.htmBad Credit Rates Bloghttp://www.badcreditrates.com/articles/late_payment.htm"How do late payments affect me?"http://www.badcreditrates.com/articles/low_documentation_mortgage.htmLow Doc loans are loans that require less income documentations. There are basically three types of Low-Doc mortgages, Stated Income loans, bank statements as incomes, and No Ratio loans. Stated Income mortgages require the loan applicant to disclose his income on the loan application, but do not require any income documentations, such as paystubs and W2’s, to support his "stated" income. However, the lender banks will verify the place and length of the applicant’s employment with the employer.http://www.badcreditrates.com/articles/prepayment_penalty.htmA pre payment penalty requires a borrower to pay a fee if the borrower pays all or part of a mortgage loan before it is due.http://www.badcreditrates.com/articles/mortgage_after_bk.htmEven if you have had a recent bankruptcy you can still get a mortgage. Rebuilding your credit can be difficult. However it is well worth the effort.http://www.badcreditrates.com/articles/your_credit_history.htmA borrower's record of various personal debt ie: credit cards, consumer debt, etc. and whether payments were made on time. Mortgage lenders will review the borrowers' credit history to help determine their loan qualifications and the terms of the loan.http://www.badcreditrates.com/articles/subprime_lending.htmA type of mortgage lending intended to serve borrowers who do not qualify for prime loans because of credit problems or a limited credit history.http://www.badcreditrates.com/articles/50_year_fixed_rate_mortgage_programs.htmRecently some lenders started to offer 50 year fixed rate mortgages. This type of loan programs is for the borrowers who are not comfortable with the concept of the interest-only loan programs. There are pros and cons for this type of loan programs.http://www.badcreditrates.com/articles/fixing_credit_report_errors.htmYou have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file. When a credit reporting agency receives a dispute, it must reinvestigate and record the current status of the disputed items within a "reasonable period of time," unless it believes the dispute is "frivolous or irrelevant." If the credit reporting agency cannot verify a disputed item, it must delete it. If your report contains erroneous information, the credit reporting agency must correct it. If an item is incomplete, the credit reporting agency must complete it.http://www.badcreditrates.com/articles/closing_costs.htm"I was told there will be closing costs due at the closing. What are these, and who pays them?"http://www.badcreditrates.com/articles/mortgage_quote.htmRemember, the inital mortgage quote you receive from your loan officer or broker is just an estimate of what he or she believes you will be approved for based on information provided at that time. After your income, assets, credit, and employment are verified the loan could be above or below your mortgage quote.http://www.badcreditrates.com/articles/cash-out_refinance.htmWith a Cashout-Refinance the money you get at closing can be used for many purposes such as future investments, College, or debt consolidation. Money can be used to pay off current monthly debt which could lower your personal Debt to Income ratio. Consult a Mortgage Professional in regards to how much you should extract from the equity built into your home.http://www.badcreditrates.com/articles/pros_and_cons_of_an_pay_option_arm.htmIf you are considering an option arm there are many things that you should be aware of. Like any other type of loan it is very important to completely understand how the loan works, and what that will mean to you in the long run.http://www.badcreditrates.com/articles/apply_for_a_mortgage.htmApplying for a mortgage can be done as easy as 1, 2, 3. Mortgage application can be done in person, over the phone, online, or through email or fax. When you are applying for a mortgage be as truthful and honest as possible. This will help to insure a smooth and pleasant mortgage experience.http://www.badcreditrates.com/articles/50_year_loans.htmNew to the market is a 50 Year loan, this allows you to stretch out your payments over 50 years allowing for a more reasonable payment especially in areas of high market values.http://www.badcreditrates.com/articles/my_credit_score_is_around_500.htmMy credit score is around 500, is there anything that can be done with this low of a credit score? Can I buy a home? Can I refinance my home with bad credit? These are some very typical questions that are asked by consumers with low credit scores or bad credit. Yes there are many options for consumers with scores in the low 500's. There are even mortgage programs for people with scores below 500 but they are harder to find and qualify for.http://www.badcreditrates.com/articles/post_bankruptcy_credit_rebuilding.htmDuring bankruptcy your credit will be damaged from creditors updating account status as "account included in bankruptcy" These accounts will all have an unpaid balance. The first step in increasing your score after your bankruptcy is discharged is to update these balances with zero. Send out letters to the agencies indicating "included in bankruptcy, change balance to zero". Your score will increase for each account with this status change.http://www.badcreditrates.com/articles/subprime_borrower.htmA borrower with less than perfect credit. However, there are still many financing programs available to assist them.http://www.badcreditrates.com/articles/pre_payment_penalty.htmEven if your current loan has a prepayment penalty, it is possible to refinance your mortgage, consolidate debt, get cash out and still lower your overall monthly payment.http://www.badcreditrates.com/articles/credit_counseling_hurts_your_credit.htmYou may find yourself at some point getting behind on your bills and looking for relief. One route people have taken in the past is to use a consumer credit counseling company.http://www.badcreditrates.com/articles/purchasing_a_home_with_less_than_perfect_credit.htmIt is possible to buy a home with credit that is not perfect. It is even possible to buy a home with flawed credit or below average credit and put little to no money down. Millions of homeowners have bought homes while having credit that is somewhat flawed or below average. Consult a mortgage broker to find out how much of a home you qualify for, how much of a down payment may be needed and what types of home loan programs are available with your exact credit scores.http://www.badcreditrates.com/articles/reverse_mortgage.htmWhat is a Reverse Mortgage, who qualifies for it, and how does it benefit me?