How to rebuild you credit⠀ ⠀

Bankruptcy Buying Home – How to rebuild you credit⠀

The good news of having a bankruptcy record on your credit report does not mean you can’t buy a home. Believe me or not but people who have gone through bankruptcy have been able to encouraged themselves to build credit by taking on debt again⠀

In order to mitigate the risk of providing that person a loan, the lender will charge higher interest rates than they normally would. For instance, an auto loan that might ordinarily carry six percent interest could come with an interest rate of eight percent or higher. ⠀

In summary, cash will solve this problem, for sure. However long it takes to gather that cash is how long it will take to get the house. ⠀

Start thinking about how you can make money in your spare time, selling on line at eBay, doing freelance work, or starting your own business.⠀

You can increase your chances by coming into the deal with a lender with as much cash as possible. The more money you can use as a down payment, the less risk for the bank. There is a level where they’ll lend you the money because the loan is secured by the house and the house is worth more than the mortgage.⠀
#michaelginarto #propertypreneur #propertyexpert #business #motivator #propertyinvestor #entrepreneur

Leave a Reply

Your email address will not be published. Required fields are marked *