Who Said Bankrupts Can't Be Home Owners

Image by Getty Images via @daylife“If you’re bankrupt now or ever have been, there’s no way you can ever own your own home.” This has long been the belief of the greater public and we have the media, the big lenders and the majority of mortgage brokers to thank for it. With bankruptcy on the rise in Australia, along with bad credit, any wonder there are so many people around, feeling completely helpless when it comes to their home ownership prospects!
The Myths about Bankruptcy and Home Ownership
As a bad credit mortgage expert, I know what can and cannot be achieved when it comes to bad credit and home ownership. I am now giving you written permission to ignore all of the following regarding bankruptcy and home ownership, because they are myths:
•If you are a discharged bankrupt, home ownership is impossible: This belief that if you are a discharged bankrupt, you cannot get a home loan is baseless. Take one look at the wonderful things bad credit mortgage brokers are achieving and you’ll realise this in an instant. The banks will say no, but bad credit mortgage brokers will say yes – how can we help you?
•If you are still bankrupt, you cannot get a home loan: This is such a widely held belief, however if you enlist an experienced bad credit mortgage specialist, it is possible to secure a home loan even if you haven’t been discharged as a bankrupt. They are tricky to secure, however it is possible. If you aren’t able to secure a loan, even when working with a bad credit mortgage specialist, before you have been discharged, a good expert will help to get your mortgage ready. Experienced specialists do this all the time, and they can do it for you also!
•If you are or have been bankrupt, any loan offered to you will have incredibly high rates of interest: Many people believe that any loans that bankrupts can secure will be impossible to afford due to the high interest rate. This is a myth, however it is true that the interest rate on a home loan for a bankrupt will be higher than the bottom rate. Even so, it is possible to secure a loan that has a reasonable rate that will be affordable. A good team of bad credit mortgage brokers will work with people who are or have been bankrupt, to ensure that each client achieves financial control, so that when they do secure the loan, they can pay it off with ease and be well on their way to a financially secure future.
Even today when bad credit mortgage brokers are achieving so much for their bad credit, bankrupt clients, most people will still stand firm on their beliefs as stated above. Part of this is largely due to the fact that bankruptcy still has a significant stigma attached to it and the myths are literally coming out of the mouths of ‘experts’. People never think to question them, and simply take their word for it.
The Best Way to Secure a Loan if you are Bankrupt
First of all, you need to understand that bankruptcy isn’t the end. In my opinion, it is best for bankrupted people to see it as an opportunity to pursue financial control with fervour! The best way to secure a home loan if you are or have been bankrupted is to see an experienced bad credit mortgage broker. They deal with bankrupt clients all the time, and know who to talk to and how to turn the financial lives of clients around for the better. To secure a good home loan that you will be able to afford, forget the banks and the majority of mortgage brokers. They just can’t help you. Specialists can though, so dismiss the negative propaganda our media, big lenders and most mortgage brokers churn out so well! Be the proof that these messages are myths and talk to a bad credit mortgage specialist today!
Julian Thornton is a Melbourne-based mortgage specialist who owns and operates the highly successful Designer Mortgage Solutions Pty Ltd. Although specializing in the field of bad credit mortgages and debt elimination, Julian can help anybody into their own home and prepare them for financial success. Julian can be contacted by email at julian

Announcing a Breakthrough in Bad Credit Loans

Image via WikipediaAll of those negative messages you hear about bad credit and mortgages! I'm talking here about how it is commonly believed that if you have bad credit it's virtually impossible to get a home loan, and if you do happen to get a home loan, then the interest rate will be so high it will be a feat in itself just meeting the repayments. In Australia, every Tom, Dick and Harry will tell you that bad credit is bad news when it comes to your prospects for a home loan, however, there is has been a breakthrough in the bad credit mortgage industry. To date, nobody has been brave enough to reveal it - until now!
The Breakthrough in Bad Credit Loans
Forget those negative messages you no doubt have been inundated with, compliments of the media, big lenders and the majority of mortgage brokers! As a bad credit mortgage expert, I can honestly say that the negative messages are false. Here is a summary of the bad credit loan breakthrough:
oA mortgage is possible with bad credit: If you are suffering from the symptoms of bad credit (defaults, writs, repossessions, bankruptcies, judgements, etc), you can get a mortgage. The major lenders and most mortgage brokers will say you cannot, because they can't help you. In their eyes, you're too difficult to help. These guys simply want to nail the quickest, easiest sale and with bad credit, more running around is needed on their part to secure the loan that best suits your needs. A mortgage is possible with bad credit, because I secure them all the time and so do other good brokers who specialise in the area of bad credit mortgages.
oThe interest on a bad credit loan won't kill you: No doubt you have heard the messages that a bad credit loan will have huge interest rates that will cripple your already wounded money situation. The good news is that this isn't the case. Due to the fact that bad credit is on the rise in Australia, the area of bad credit mortgages is more competitive, and that means the interest rates for such loans will also be a lot more appealing. It is possible to secure a bad credit mortgage without incurring huge interest rates. For instance, it has been possible to secure a bad credit mortgage with an interest rate of 5.79% in the first year, and 7.79% after the first year. Rates like these are good!
Taking Advantage of the Breakthrough
Mark my words: you won't be able to secure a home loan through a big lender or the majority of mortgage brokers. To secure a loan that works well for you, you will need to work with a bad credit mortgage expert. If you are suffering from bad credit and you're looking to get into a home of your own, now is the time to take that first step towards a financially successful future. Reputable bad credit mortgage experts work with bad credit clients each day, and they secure competitive loans for them each day. Find out how you can as well and do something about your situation today!
Julian Thornton is a Melbourne, Australia-based mortgage and debt analyst specialist. Julian specializes in the field of bad credit mortgages and personal money management coaching. Julian can help literally anybody into their own home and prepare them for financial success. If you need financial relief and desire control of you personal finances then Julian can help you. He is the author of "How To Get A Mortgage When No-one Wants To Give You One!"
© Julian Thornton, Designer Mortgage Solutions Pty Ltd, 2006.
Article Source:http://EzineArticles.com/?expert

Organized Financially - Your Own Home Faster With Bad Credit

Image by Getty Images via @daylifeDefaults, repossessions, judgements, bankruptcy...forget everything the media, the big banks and the majority of mortgage brokers have ever told you about these financial issues and mortgages! I guarantee what you have heard is negative, and enough to drive a person with bad credit to "Despondency Central"! The great news is that it's all wrong! Completely false! There is hope for the financially wounded in Australia, and yes, contrary to popular belief, they can own their own home. All it takes is some preparation, but it isn't as hard as people make it out to be.
It's Best to Purchase Sooner Rather than Later
In most cities in Australia, perhaps with the exception of Sydney where the property market is a little flat, property prices are on the up. All in all, it's a good time to buy - to get in before the prices get any higher, or to take advantage of stagnant property prices. Given the current situation, the time to start preparing for mortgage readiness is now. Forget the issue of bad credit. I've already told you home ownership is possible if you have money problems.
Come on...I know you want to Purchase your own Home
I've spoken to many people with bad credit, and although they have written themselves off when it comes to buying their own home (thanks to the negative lies of the big banks and most mortgage brokers), deep down they want to own their own home. We all have our reasons for wanting to purchase our own home. If you can relate to any of the following, then it's time to start pursuing the home ownership reality for yourself:
oYou wish to live closer to your family and friends;
oYou wish to live closer to your work, school and social activities;
oYou wish to achieve the greater freedom and independence that comes with home ownership; and/or
oYou wish to increase your self esteem and sense of security.
Getting your Reality Check
Buying a home is no cheap feat. In fact, it can be expensive. I can say without a doubt that buying a home will represent the most significant purchase of your life. Once you decide to pursue home ownership for yourself, you need to ask yourself a number of key questions:
oDo I have money for a deposit?
oCan I easily get out of my current rental lease?
oWhere do I want to live?
oWhat can I afford?
Be realistic! It's easy to get swept away in the excitement of home ownership, however if you get real about things, you're setting a good foundation for yourself.
Get Organised Financially
Sometimes it takes some preparation to get mortgage ready, and chances are if you are struggling with bad credit issues, a good specialist in bad credit mortgages will have to work with you to prepare you for home ownership. A mortgage is a big responsibility, but with professional help, you'll be able to handle it well, and set yourself up for a financially secure future. That's because bad credit mortgage specialists work with you to examine your current credit situation, clear up any debts and settle you into a saving routine, so you will be in the best financial position for mortgage success.
Get Pre-Approved
After working with a bad credit specialist to get your financial house in order, it's time to determine how much you can afford to borrow. Experienced bad credit mortgage expert know what our clients can and cannot afford, and they find clients the best loan to suit their situation. Such specialists will work with you and explain the options and detail exactly how much of a deposit you will need (whether you require a 5% or 10% deposit or no deposit), and what you will be paying once you secure your mortgage. Once your specialist broker obtains pre-approval from a lender, you can then confidently look for the property you want to buy, knowing that you have the finance all approved.
Do Business with Reputable Real Estate Agents
So many people have had their house hunting experience ruined by a less-than-credible real estate agent. I recommend that you search for properties listed by credible agents, so you can be assured of a pleasant home buying experience.
Get Mortgage Ready Now!
You've read this article, so you have reason to ignore the negative messages regarding bad credit and home ownership. You can own your own home with bad credit! Take your first step towards owning your own home and getting financially secure by getting in touch with a reputable bad credit mortgage expert today!
Julian Thornton is a Melbourne-based mortgage specialist who owns and operates the highly successful Designer Mortgage Solutions Pty Ltd. Although specializing in the field of bad credit mortgages and financial coaching, Julian can help anybody into their own home and prepare them for financial success. Julian can be contacted by email at julian