If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
The Pre-Approval process involves you speaking with a Mortgage Lender about your financial situation, what you'd like to accomplish, and any concerns you have. Armed with that information, a Mortgage Lender can obtain an approval from a lender up to a specified loan amount and provide you with monthly payment information and closing cost information. There are many benefits to getting Pre-Approved. First, Realtors will spend more time assisting you with your home search if they are confident youll be able to obtain financing once youve located a home youre interested in purchasing. Second, Sellers will take your offer more seriously since they know you will be approved for a mortgage -- and they wont risk taking their home off the market only to find out the deal is going to fall through 30 days later. Finally, since you know youve been approved and much of the paperwork has already been processed, youre in for a much less stressful experience. Why is it important to do this as early as possible? Many loan officers report that over 50% of the credit reports they see have inaccurate information listed. This inaccurate information could be the difference between you getting a loan or not getting a loan - getting a rate of 5% or getting a rate of 7.0%. The earlier these errors are found, the sooner they can be corrected. So, what do you need for the Pre-Approval Process? Here a list of documents your Mortgage Lender will want to initially see copies of:
- W2's from the last 2 years
- Tax Returns from the last 2 years
- Pay stubs from the last 30 days
- Bank & Brokerage Statements from the last 3 months