Who in Australia will give me a Home Loan when No One Else Will? Contrary to pretty much everything you have ever heard about a home loan and bad credit, it is possible to get a home loan when no one else will, allowing you to purchase your own home. All of this regardless of the fact that you may find each or all of the following on your credit files: o Personal bankruptcies or Part 9 Debt Agreements [...]
Who will give me a home loan after a part 9 Debt Agreement? After completing a part 9 debt agreement in Australia, it can be challenging to secure a home loan, as your credit history will have been affected. However, there are still some options available to you: Non Conforming lenders: Cater to borrowers with unique circumstances or credit issues, including those who have had a debt agreement. They may consider lending to you if you can demonstrate that [...]
Why Poor Credit is No Barrier to a Bad Credit Home Loan in Australia Bad Credit Home Loans Guatanteed: In Australia, the idea of securing a home loan with bad credit may seem far-fetched, but it is not impossible. Despite having a bad credit history on your credit file, which might include personal bankruptcies, arrears on mortgages, repossessed houses, writs, judgments, and defaults, there are still options for those looking to purchase a home. Here are some reasons and [...]
Can you get a Home Loan if You are an Older Borrower? Home Loans for Older Borrowers: It is true that some lenders in Australia may have (unofficial) age restrictions when it comes to lending to older borrowers. However, there are still lenders who are willing to offer home loans for older borrowers as long as there is a clear exit strategy in place to repay the loan. What is an Exit Strategy for an Older Borrower? An exit [...]
Mortgage Arrears - What Should I do if my Mortgage is in arrears in Australia? If your mortgage is in arrears in Australia, it's crucial to address the situation promptly to prevent potential repossession of your property. Here are some steps you can take: Understand the situation: Check your credit file and mortgage documents and correspondence from your lender to understand the extent of your mortgage arrears and any penalties or fees involved. Communicate with your lender: Reach out [...]
Can you get a home loan after Bankruptcy? Buying a House After Bankruptcy: It may be possible to get a home loan after Bankruptcy, but it can be more challenging. Many lenders consider discharged bankrupts to be high-risk borrowers due to their credit history. However, some non conforming lenders specialize in providing loans to borrowers with bad credit, including discharged bankrupts. Here are some general points to keep in mind if currently discharged from Bankruptcy: Discharge period: You must [...]
Can I get a home loan in Australia if I am self employed and abn under two years? It is possible to get home loans in Australia if you are self employed and have an ABN registered under 2 years, but it may be more difficult than if you had two years of lodged tax returns or were employed by a company. Lenders generally prefer borrowers with a stable income and employment history, so self-employed borrowers may need to [...]
Can I get a Mortgage with a Judgement or Default on my Credit File? Mortgage with Bad Credit: Unless you are working in the area of bad credit and finance or have a judgement chances are you don't know what a Judgement on your credit file is. A judgement is a court order which instructs you to pay a certain amount of money to a creditor. Each judgement remains on your Credit File for five years, and if you [...]
Can I get a Home Loan with a Low Credit Score? You could be suffering from a low credit score and you need to refinance an existing loan. Fortunately, there are now many loan providers that specialize in offering and providing home loans for borrowers who have a Low Credit Score There are also numerous of them that provide bad credit refinancing. Do you have a low credit score? You should not worry about possibly getting a refinance loan. [...]
How to Consolidate Debt into a Home Loan Many people are deeply indebted in different forms of loan products these days. However, with the debt consolidation loans available in the market, more options in debt repayment are offered to the public. The most common form of these loans are consolidating debt into a home loan. Consolidating debt with a home loan is a popular option for borrowers. Home refinancing loans cover mortgages, which are secured loans that require surrendering [...]