Those Seeking Home Loans for Bad Credit May Hit Dead End

If you have a short sale, foreclosure, or bankruptcy on your credit, it is not likely you will be able to qualify for a home loan for awhile. Depending on how much time has passed since the bad mark actually dinged your credit, you could be waiting years to get a home loan.

For those with bad credit, it’s not like you can simply go down to your local ‘title loan’ company and get home loans for bad credit. Such lenders simply do not exist for aspiring homeowners with bad credit. Well, at least until now.

We have seen the demand growing in recent years for a non-bank, private money mortgage loan product for aspiring borrowers just like these. And with new laws that just went into effect in January of 2014, the government went ahead and gave us a new definition of what qualifies for a mortgage. The bad news about this is that now most people can’t qualify under these new definitions/standards imposed by the government. For this reason we decided to go ahead and launch our private money mortgage in 2014 in answer to this demand.

For example, under this new private money mortgage program, we accept credit scores from 500. We also determine how much income a borrower has without using the traditional W-2s and paystubs. We can use business bank statements or personal bank statements to qualify you from an income standpoint. If you or someone else you know is struggling to find home loans for bad credit, read more here:

http://privatemoneyutah.com/private-money-mortgage-alternative-home-loans-bad-credit/

Posted by Corey Curwick Dutton