home loan or mortgage

Do you want home loan or mortgage while you have bad credit score?

 

Yes.

 

What's the difference between home loan and mortgage?

 

It looks too good to be true. Well, I don't know how about you, but the market of loans is a bit complicated and there is still lots of scam. When I see such ads when some guys promise to give the money to people who have bad credit score, I feel that it is a sort of scam. In most of the cases tha bank interests are extremely huge. I don't know, maybe this is an exception from the rule, but in most of the cases such ads have hidden hazards.

 

Yes Please tell me suitable offer.

 

Let me see if I understand the proposition you are suggesting: A person has a bad credit score which means that s/he is not able to keep up with current bills and debt. Now, this same person is being offered the opportunity to take on even more debt with a big mortgage or home equity loan? Not a recipe for success.

That said, there are financial planners who help people with multiple, high interest rate debts (e.g., credit cards) consolidate their debt into a single, low interest loan as a way to dig out of the mess they are in. This approach can work if they own a home and can take out a loan on it as collateral, but then they need intensive counseling to change to their spending habits, etc. This does not seem to be what you are posting about.

 

Mortgage = Monetary loan to the "home owner."
Home loan = "Home owner" loans out his home to someone else to live in.

 

I got used to think that it directly depends on your personal wishes and laws of your state. If you have a bad credit score, then there is a very low chance that if you apply to mortgage, it will be approved. So, I personally prefer home loan in this case. Everything you need is just to apply to the regional center or bank, in order to calculate chances of approving mortgage for you. The best option for you in this case is to rent an apartment or house, until your credit score will be fixed. Banks should be convinced that you now have enough money to pay mortgage.

 

Hello All, I have been turned away from many banks to obtain home equity loans. Can someone help me find the financing I need?

 

Taking out a loan to buy a car is a bad idea. Cars depreciate the moment they leave the lot. Save up to buy a used car (in today's world even a used car can cost a fortune). I'd advise you against buying a new car and especially taking a loan to buy one.

I know banks can be a pain in the butt, but if you were turned down by "many" banks, you need to rethink your strategy when it comes to buying a house. Not knowing the details, my guess is you don't have savings. You need to keep saving up till you're able to make a down payment. Some banks don't care how much you make a month, they want to see your savings (or other assets).

 

I would choose the mortgage for sure

 

Hello All, I have been turned away from many banks to obtain home equity loans. Can someone help me find the financing I need?

 

Well, looky here. Not only have the banks banned him, but even DP has banned him.

 

Saving him from getting scammed.