Have you ever wanted anything so much that you were willing to put off your bills to get it? A lot of people have and some do it month after month. The worst part of this is that these same people wonder why they are having money problems.
I’m not talking about putting off the bills [...]
Those struggling to afford a home may be wondering how long their mortgage payments can be stretched out.
The new answer: a half-century.
A handful of lenders have begun offering 50-year adjustable-rate loans to buyers who need to keep payments low in the face of record home prices and rising rates.
With a good credit score an applicant will receive prompt response from many lenders, all of them offering low interest rates and low down payment options. The loan amount offered also may be high. On the contrary a low credit score would result in a lot of rejection from various mortgage financers. Because creditors wouldn’t come forward easily to give credit to individuals that have a history of difficulty in repaying existing loans. (more…)