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Mortgage Professor about purchasing mortgages for bad credit: | |||||||||||||||||||||||
The Worst Mistake of Mortgage Borrowers
February 19, 2001 ?What?s the worst mistake mortgage borrowers make?? The worst mistake by far is making decisions based solely on the affordability of monthly payments, without considering ... more... The Fully Amortizing Mortgage and Savings Discipline February 7, 2005 ?The equity from sale of our old house will cover the first 6 months of payments on the new one. To avoid spending this money, we plan to make 6 payments immediately, then we have 6 months to save enough from our current income to repeat the process. Is this ... more... |
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purchasing mortgages for bad credit related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... Credit Score Credit Score A single numerical score, based on an individual's credit history, that measures that individual's credit worthiness. Credit scores are as good as the algorithm used to derive them. The most widely used credit score is called ... more... |
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