Bad Credit Mortgage Lenders Approve You Today

• Approvals with 30,60,90 Day Late Payments
• Approvals with Past Foreclosure, Chapter 7 or 13 Bankruptcy,
• Approvals with Collection accounts!
• Approvals With Charge Offs, Judgements!
• Approvals With Medical Collections!

Bad Credit Mortgage Lenders Law On Primary Homes

The Dodd-Frank Act fully is known Consumer Protection Act is the United States federal that law created in 2010 after the housing crash that places the burden bad credit mortgage lenders to document and prove the borrower’s ability to repay. Finally, the final rule requires bad credit creditors to retain evidence of compliance with bad credit mortgage applicants ability to repay the loan for up to (3) years after a loan is consummated.

Bad Credit Mortgage Lenders Waiting Periods

The Bad credit mortgage lenders must analyze the Bad credit mortgage applicants delinquent accounts and payment history to determine whether late payments were based on a disregard for financial obligations, an inability to manage debt, or extenuating circumstances. The Bad credit mortgage lenders must document this analysis in the mortgage file. Any explanation or documentation of bad credit payment history must be consistent with other information in the file. Bad credit mortgage lenders approval of a Bad credit mortgage applicants must meet the satisfactory credit history, only if the bad payment history was related to extenuating circumstances beyond the bad credit mortgage applicants control.

What Do Bad Credit Mortgage Lenders Look For?

• This is not true.
• We approve first-time bad credit mortgage applicants and move up mortgage seekers with past Foreclosure, Bankruptcy, Short-Sale, and repossessions, 30,60,90 day late payments every day!
• There are many bad credit mortgage lenders that specialize in helping first-time mortgage applicants seeking a bad credit mortgage.
• Bad credit mortgage seekers with medical collections, charge-offs, tax liens are getting approved for a mortgage every day!

Mortgage Lenders Want To See After Bad Credit?

Mortgage lenders must examine the Bad credit mortgage applicants overall pattern of payment behavior, not just isolated unsatisfactory or slow payments, to determine the mortgage applicant’s payment history.  The mortgage lender must evaluate the bad credit mortgage applicants payment histories in the following order:

1. Previous housing payments. Verified rental history will help you get approved!
2. Installment debts. Like car mortgage payments and car payments.
3. Revolving accounts. LIke credit cards, you can charge up and pay down over and over.

Requirements For  Bad Credit Mortgage Lenders

1. Bad credit mortgage lender may consider a Bad credit mortgage applicants to have an acceptable payment history if the Bad credit mortgage applicants have made all housing and installment debt payments on time for the most recent 12 months.
2. Bad credit mortgage lenders may consider a Bad credit mortgage applicants to have an acceptable payment history and no more than (2) X 30-day late mortgage or installment payments in the previous 24 months.   
3. The Bad credit mortgage lenders may approve the Bad credit mortgage applicants with an acceptable payment history if the Bad credit mortgage applicants has no major Bad credit on revolving accounts in the previous 12 months.