Having,trouble,refinancing,eve finance, share, loan Having trouble refinancing even if your credit and finance p
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
By: Zeng Han Jun, CPCG, Singapore There are many factors that the bank will take into consideration when assessing your application for a refinance. Sometimes, your application is rejected, even when you feel that your credit and finance profile are pretty good. If that is so, what is the reason that is preventing them from accepting your application? One of my clients, Mr. AAA, has excellent credit profile and is financially strong which was why I rated him as AAA. He requested for my assistance in refinancing out of his present home loan to a better rated home loan product. Very soon, it was made known that his property refinancing application was rejected and I had to bring the bad new to him. What exactly happened? There are numerous people who are looking to refinance now, mainly because of the low interest rate that is being registered right now. However, banks and lending institutions are extremely selective of their housing loan applications right now. In times of an economic slowdown, some properties valuation has dropped significantly faster than those from other areas. Mr. AAAs house, which sadly belonged to the former category, was bought last year with a 90% home loan, has suffered from a significant drop in the valuation. If he were to refinance right now, he will have to top up the difference! Of course, to some privileged few, this difference of money might not make any difference to them at all. However, to the majority of most Singaporean, this is not a very wise move to execute at all. During a refinance, the banks do not just look purely at your credit and finance. There are some other factors that they take into consideration and they might played a part in the rejection of your application. This article from CPCG is currently being protected by Singapore and International Copyright Laws. However please feel free to republish this article, provided that you include working links to our website: http://www.cpcgonline.com and http://www.cpcgonline.blogspot.com. We appreciate your kind gesture. For any enquiries, please email us at [email protected].
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