Friday, November 16, 2007

What is a Bad Credit Mortgage Loan?

Five Stars Mortgage has posted an article explaining the mysteries of the bad credit mortgage loan.

Below is an exceprt from the article:

"Bad credit mortgage is no different from an ordinary mortgage except for the fact that it's given to people having a bad credit history. A bad credit mortgage serves as a boon for people having a bad credit history that could have happened due to non payment of debts in time, bankruptcy, black mark from any credit agency, court cases, or even in accurate information or credit fraud. Bad credit mortgage is also referred to as adverse credit mortgage, sub prime mortgage, non standard mortgage, poor credit mortgage or credit impaired mortgage. These are the same as bad credit mortgage refinace, bad credit mortgage home loans, and foreclosure refinance situations. Lenders generally shy away from people having a bad credit. But the situation has changed rapidly and many home mortgage lenders and bad credit mortgage company have sprung up that offer bad credit home mortgages to people having a bad credit history, with almost the same interest rates (just a marginal difference) and terms as in a normal mortgage loan. "

To read the entire article on bad credit mortgage loans in Florida visit: