Archive for the ‘Credit’ Category
How the results of a survey of bank credit in spain 2011
Funding requests for Spanish companies, especially Sees, will grow in the first quarter, but on the contrary, will reduce household for both house purchase and for consumption and other purposes.
This is one of the estimates included in the bank lending survey in Spain for January 2011 released today by the Bank of Spain.
It is added that the reduction in funding requests of the families will be “marked” about homeownership.
The same study also indicates that despite the tensions experienced in sovereign debt markets, the supply of loans in Spain remained “stable” during the last quarter of 2010.
How to get a mortgage
Bad credit loans are given to those borrowers who have bad credit history. Bad credit history includes arrears, defaults, judgments of the District Court, bankruptcy, etc. missing out on the repayment of loans or to repay the loan on time leads to bad credit score. Late payment affects the borrower’s credit score. The situation becomes even worse when a borrower to repay the loan.
Sometimes the debt problem is so serious that the borrower is forced to file for bankruptcy. Bankruptcy discharges the borrower from all his debts so he could start all over again. However, bankruptcy remains on the borrower’s credit score for many years and during all these years, the borrower cannot obtain a fresh loan. Even if he manages to get the interest rate is very high.
Lenders are not willing to provide bad loans because they consider borrowers with bad credit history as high risk borrowers. According to them, the personal are not fulfilled its obligations in the past, most likely do it again. This is even more difficult to get an unsecured loan bad credit. Such a loan to further increase the risks for the lender because it is not backed by any security. In this case, the lender must verify that a borrower has a stable income. It is easier to get a bad credit loan if the borrower offers collateral. Such a loan is called a secured bad credit loan. In this case, the lender does not care much about the borrower’s income and financial position. Read the rest of this entry »