Posted on: 06th Jul, 2011 12:03 am
I'm looking for a mortgage in order to buy a property of my own. I have a bad credit and can't find a lender to approve me a loan. One of my friends informed me about B, C and D paper loans. What are these loans?
Hi Liz,
As far as I know, B, C and D paper loans are various types of alternative or non-conforming loans. These loans were available to borrowers who had poor credit scores. However, now-a-days such sub-prime loans are hardly available. In my opinion, it will be better if you could take steps to improve your credit score and then look out for loans. To know about steps to improve your credit score, check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Thanks,
Jerry
As far as I know, B, C and D paper loans are various types of alternative or non-conforming loans. These loans were available to borrowers who had poor credit scores. However, now-a-days such sub-prime loans are hardly available. In my opinion, it will be better if you could take steps to improve your credit score and then look out for loans. To know about steps to improve your credit score, check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Thanks,
Jerry
Hard money or private lenders is who may be able to help you. For private lenders you need 30-35% down payment. good luck
