Consolidating mortgage arrears

When a customer comes along who isn’t absolutely straightforward it can be very difficult for them to find a lender, which is evidenced by the huge number of customers coming to us that have been declined through another broker (or offered extortionate rates), when they would have been eligible with more lenders than their old broker was aware of.


I know because I’ve been there and it was unbelievably stressful at the time.All of our lenders that we have in our system have to obey Fed and State laws regarding usury, and we have a watch-dog method of tracking their behaviors with borrowers that use this site.BUT, we count on our users to let us know if there is a lender that all of a sudden decides to start behaving like a predatory lender.As it played out, he had been using all of his credit cards to pay basic bills and get groceries for the family – and he didn’t have a way to pay them off at the end of each month.


It’s embarrassing when your credit card is declined for one carton of milk.

If you’ve had adverse credit in the past, a good mortgage advisor will want to review your credit reports before doing anything - this will give them a good look at the information lenders will be using to assess the application, in terms of the specifics of each credit issue.


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