Bad Credit Forum- Re: Best Way To Pay Down Debt and Raise Credit ScoreAlso be sure to check your credit report for errors. They really do happen. I had 2 entries for one credit card, for example, which made it look like I had more outstanding credit than I did. I disputed it, and it was quickly fixed. […]
- Re: Best Way To Pay Down Debt and Raise Credit ScoreThere is a decent article on credit card payoff strategies: http://www.over50web.net/finance/save-money-finance/credit-card-payoff-strategies/ The comments actually give some good information. Basically, you should pick a stategy that works well for you. That said, I do believe that paying off cards that are close to their limits will have a quicker impact o […]
- Re: Renting With Poor CreditAbsolutely, your best bet is to long for somebody who needs a room mate in their own home - if you need very cheap rent, there are older people who need some help around the house or transportation - and they may be willing to give you a big break on rent (or even free rent) in exchange for some services. Of course, you have to be responsible and do what you […]
- Re: Best Way To Pay Down Debt and Raise Credit Score
Monthly Archives: November 2008
Bankruptcy Relief with Today’s Laws
I just read an article on Womanwork.net about bankruptcy relief in the US, and have to agree with the – sort of cynical – outlook. The bankruptcy laws were changed a few years ago to make it much tougher, if not impossible, for Americans to declare personal bankruptcy. And yet, in the last few years, credit card companies have been allowed to be just as tricky and deceptive as ever with their ads and practices.
The article also makes a very good point about mortgages and bankruptcy. Note that a personal bankruptcy usually has little effect on a home loan or other secured debt. It may, however, free up money to keep the mortgage current.
Lease To Purchase Homes In a Tough Mortgage Market
Need To Buy, Sell, or Invest in a Home In Today’s Tough Mortgage Market?
This is a tough mortgage market all around the USA, but transactions are still going on, and people are still getting homes even when they do not have perfect credit. And sellers are able to find a larger pool of buyers by being a bit more flexible than they might have been a few years ago when real estate sales were booming!
Lease To Purchase Homes For Buyers and Sellers and Landlords
Prospers with L2P
Lease to purchase options provide advantages for sellers because they can find a much larger pool of potential buyers when they do not have to require the excellent credit that a traditional home mortgage may require these days. A lease to purchase deal may work out very well for buyers because they can get into a home that they may not have been able to qualify for with a traditional loan, and they have time to live in the home to check out the neighbhorhood before they make a final purchase. And some portion of the rent payments go towards the final purchase, which is an advantage for the buyer. In the meantime, the seller gets to keep their cash flow coming in, even if a house has not sold under a traditional home mortgage!
