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Avoiding Bad Credit and Repair
By Barry Gilbert
Author: Barry Gilbert
Staying in contact with your payments each month can
help you avoid bad credit. If you research the
marketplace before coming to a purchasing decision, you
are well on your way to avoiding bad credit and repair
credit hassles. You want to consider all applications,
including credit cards, student loans, mortgages, and car
loans carefully to avoid being overcharged.
Making the wise decision ahead of the game is the
ultimate solution to maintaining good credit. Most people
when taking out a home mortgage loan are not aware of the
options available to them. Many will walk in the bank
door, fill out the application, and accept the terms &
conditions when offered to them.
If you ever heard the many reports that swept the pages
of newspapers, television and other advertising
sources families and individuals are filing bankruptcy
because they cannot afford their homes anymore. This is
because these people did not take the time to check the
marketplace first and searching the options available to
them. As you can see, the millions reported are in debt
and searching for a way to repair their credit. The
solution then to avoiding bad credit and repair is to
research, invest wisely, make good decisions, and budget.
Being informed and educated is two of the best tools
offered to us. There are mortgage loans that offer
overpayments and underpayments and these loans include
vacation packages and lump sum payments to the borrowers.
There are also other loans available that offer low
mortgage monthly installments and low interest rates with
insurance policies attached that will pay your mortgage
if you are sick, unemployed, in an accident and so on. On
the other hand, there are mortgage loans that have high
interest rates, high mortgages, and balloon payments
attached.
When balloon payments are attached to home mortgages it
is almost guaranteed in a few years you will be searching
for a solution to repair your credit. There are very few
home lenders willing to tell you the truth about the
variety of home loans available. Most of the lenders are
making money and you are a source of income. It is
important to scope the terms & agreements carefully as
well as reading all fine prints on any loan contract
before you sign.
If you want to avoid bad credit and repair, you want to
stay on the right path. Loans are agreements that are
made between two parties and attached are interest rates
and other fees. If you are applying for a home loan and
want to avoid bad credit, it makes sense to learn what
the fees include and how much those fees are. Anytime you
take out a mortgage loan there are upfront fees attached.
In some cases, you can get a home for little or no cost.
Searching the marketplace can save you time and money.
Some home loans offer an 'acceleration clause', which
covers you if you miss mortgage payments. The lender will
apply the clause by allowing you leniency providing you
make payments the following month on time. This type of
loan is great for avoiding bad credit, foreclosures, and
repossessions. The marketplace is swarming with realtors
and other sources that will help you get a mortgage loan
affordable to you with benefits included.
Car Loans
If you are applying for a car loan, it is also important
to research the marketplace carefully before agreeing to
any terms & conditions. Make sure that your find the best
deals affordable to you.
College Loans
College I learned a golden rule that applies to
everyone. This rule is that most car dealers up the fees
on cars 15%. This means if you negotiate with the dealer
you can get a reduction on the vehicle up to 15%.
Credit Cards
Another word of advice is when applying for credit cards
you want to sway away from cards that have fees attached
and high interest rates. Avoid credit card offers that
have upfront fees offer a high line of credit.
Student Loans
You also need to consider student loans. You may be
qualified for a student grant from the government. This
is the first place you want to start before committing
your self to a loan agreement.
About the Author
We are committed to helping you to get your credit back
on track, OR get loans or cash that you need. Loans,
Credit Repair, Filing Bankruptcy, Government Grants,
and Government Auctions etc.
http://www.auctionbusinesssite.com/credit
This article may be reprinted if the resource box is left
intact.
Article Source: http://www.simplysearch4it.com/article/16760.html
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| Some other articles by Barry Gilbert | |
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