The Price of Bad Credit Loans : Paying to much in Credit Fees?

nospam@example.com (Tripp) — Thu, 14 Aug 2008 15:51:25 -0700

What is the Price you are already
Paying for Bad Credit?

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If you are making payments on a car, you are probably paying between $5,000 and $9,000 more in interest just for having bad credit. This added interest shows up every month in a higher payment.

Credit Status	Rate	Payment	Over 5 years	Monthly Cost of Bad Credit
Perfect	10%	$424.94	$0.00	$0.00
Mildly damaged	14%	$465.37	$4,722.54	$76.17
Damaged	20%	$529.88	$8,593.30	$138.60

Bad credit in auto financing can really hurt, but it is nothing compared to the cost of bad credit when a home is involved. A typical home can cost between $50,000 and $130,000 more in interest if you are buying the home with bad credit, as indicated below.

Credit Status	Rate	Payment	Over 30 years	Monthly Cost of Bad Credit
Perfect	7%	$655.30	$0.00	$0.00
Mildly damaged	9%	$804.62	$50,155.24	$139.31
Damaged	12%	$1,028.61	$130,791.63	$363.30

If you are looking to make a major purchase in the next 6 to 12 months you should obtain copies of your credit reports from all three credit agencies ASAP. You can learn more about obtaining and reading your reports as well as a variety of ways to dispute negative information by ordering your copy of "Give Yourself Credit". Tips for Loans
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Items you may need to get a Loan
You will need to bring a Legal description of the property.... the Contract to purchase the property.... supply your Choice of closing attornies.... Address of employers....
Previous landlord's name and address....
** if you lived there 2 years....
Previous employer's name and address....
** if you have been employed by your current employer less than two years....
All of your checking account numbers.... All of your savings account numbers.... All of money market account numbers.... Loan numbers for all loans, you may bring name and address of lenders and Monthly payments & balances on all loans....
Bring all credit card account numbers, balance, and monthly payments.... Any Monthly payments on real estate debt.... Monthly income on investment property Copy of divorce....
Two years taxes if self employed.... Year-to-date taxes if self employed....
Two years' tax returns if self employed or also if 5% or more of your income is received from investments.
W-2 and current paystub.... W-2 and current paystub if self-employed

Bad Credit Debt Consolidation Loans Help for Free - Cost of Bad Credit

The Price of Bad Credit Loans : Paying to much in Credit Fees?