Home buying and poor credit

Its been a tough few years for home buyers, the market is right for buying yet few can get the loans, especially for the people who have poor credit, subprime loans are part of what caused the market crash so its understandable that banks would be wary of lending such loans, but I personally think they’ve actually gone to the opposite extreme, making it difficult for even those with few blemishes on their credit history.

Ideally what needs reforming is the credit rating system, it needs to focus more on a persons payment history, if someone hasn’t missed a payment in the last 2 years they might still have poor credit but that’s a reliable customer. Bonuses which fuel sales people to make more deals than they need to also need to be looked at.

Del Monkson writes about loans for poor credit ratings helping people to better their chances of getting a loan.