Bad credit home loans

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Bad Credit Home Loans
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What is a bad credit home loan?

• A bad credit home loan is a type of mortgage that
  is offered from a non-conforming or specialist
  lender
• that can consider all situations, in particular
  for those of you with black marks on your credit
  file. It is
• designed to help outside of the box
  applications from regular people who dont meet
  the banks
• guidelines.

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Who can qualify for a home loan?

• Bad credit home loans are generally suited for
  people who have had something bad happen to them
  such
• as a divorce, loss of job, injury or business
  failure which has resulted in black marks on
  their credit file.
• Lenders dislike people who did not want to pay
  for their defaults or those who keep having
  ongoing credit
• problems.

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Below is the list of the basic qualifying
criteria

• Small paid default If you have a small default
  for less than 500 and it has been paid more than
  six months ago then we can help you borrow up to
  90 of the value of your property.
• More than one small paid default If you have
  less than 1,000 in paid defaults from financial
  institutions (e.g. banks) and less than 500 in
  paid defaults from non-financial institutions
  (e.g. phone companies) then you can borrow up to
  85 or possibly 90 of the property value.
• Major paid defaults If you have up to 3,000 in
  paid defaults we are able to help you borrow up
  to 80 of the property value with a prime lender,
  or up to 100 of the property value if you have a
  security guarantee from your parents. Larger paid
  defaults up to 10,000 can be considered on a
  case by case basis if you have a very good
  explanation which is backed up with strong
  evidence.
• Unpaid defaults If you have any unpaid defaults
  then you can only borrow 80 of the property
  value, this is with a non-conforming lender.
• Judgments / court writs If you have any
  judgments / court writs then you can only borrow
  80 of the property value, this is with a
  non-conforming lender.
• Part IX agreement Please refer to our Part IX
  agreement page for more information.
• Bankruptcy Please refer to our bankruptcy
  mortgages page for more information.