One of the most effective means of building credit is to apply for a second mortgage. Did you know that you can obtain a mortgage after you have cleaned up your debt problems or received a discharge in bankruptcy. It usually takes about two years of clean credit to get a mortgage after bankruptcy

The reason you can get a mortgage is that it is usually quite a bit easier to pay bills in a timely manner after you have gotten out of debt. A record of paying bills on time again is the key to getting a home loan after debt. You need to have established a new credit history of good credit, instead of your old credit history of bad credit. Get more info about equity loans.

If you can come up with a hefty down payment, say 25 percent or more, the bank will ignore your past credit problems. The bank does not document your credit history for this type of loan, which is why it is called a no-documentation loan.

Choice Personal Loans, Inc. offers a variety of mortgage products for people with poor credit. Click the link to apply for a bad credit home equity loan!

Related Reading:
Credit 101
Getting Credit with a Secured Credit Card
Building Credit When You Have No Credit
Mortgage After Bankruptcy
Personal Loans for People with Bad Credit
Credit for Those Under 21 - How to Teach My Child About Credit






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