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How to Acquire a Bad Credit Mobile Home Loan
By Admin | June 18, 2009
Though a few lending institutions have a preference to those who have established credit, there are many other institutions who are willing to lend to those people with bad credits. Most lenders require people to have a credit score of 620 and above, for those with less, credit can still be given but with higher interest payment.
The most easiest way to acquire a bad credit loan is to ask for equity loan because those who lend credit considers three main areas before processing the loan i.e. ability to pay, borrowers credit score and the collateral but the equity loan usually takes care of the third factor.
The lender can take the title deed of the mobile home property until when the loan will be paid. There is also a special loan called sub prime for those with bad credit
Topics: Credit & Bad Credit, Finance, Home Loans | No Comments »