Like many people, you may have bad credit, yet still desire to own your own home or refinance For some discovering that you have bad credit is a total surprise and for others they are fully aware of it, but it could not be helped, as it was the result of a business failure, unemployment, a separation or a critical illness or accident in the family.
Over the years Kim Lyons has helped so many clients who have had a glitch with their credit or repayment history. What he has found is that it is best to lay all the cards on the table and look at how we can resolve the situation. This may mean that a loan has to be arranged to repay all the outstanding debts so you can start afresh. By consolidating your debt, you clean up all the details and make repayment more simple and effective.
Often dealing directly with your debtors and negotiating a full and final settlement is the best solution. Kim can help with this and significant discounts have been arranged on behalf of his clients.
Now bad credit issues do have varying degrees of seriousness with lenders. You will often not have to worry about for example unpaid incidental bills. Now we often see collections relating to Gym memberships, these too are not a major.Things such as gym subscriptions are a case in point. The red flags will raise for lenders if there appears to be a pattern of non-payment over an extended period of time.
But, the good news is that if you have at least say 25% to 35% equity in your property, or as a deposit, there are still options available, even in these difficult times when there are so few lenders in the market.
Initially, what you need to do when looking for a mortgage for bad credit.is take an honest look at all the bills that need paying.} The key really is honesty. You are going to have to face up to the problem before you can solve it! The next thing to do is write down an explanation on why things went wrong and what you can do better in the future so that you do in fact start on a new path. When you know why things went wrong, then you can do things differently in the future to get the result you want. If you have no idea on what went wrong, then Kim could help you.
What are you waiting for? If you want to refinance, buy a home, consolidate debt or get a mortgage for bad credit, Kim is always prepared to listen.
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