Credit-challenged borrowers can bring opportunities for mortgage professionals, finance companies, and leasing companies in 2014
2014 seems to be the year where many who were financially challenged due to the economic downturn are now ready to get back into the purchase or refinance market. Since many articles have been published this year in the main stream media regarding major banks stepping into subprime lending we have seen an influx of more damaged credit clients looking to purchase, refinance, and apply for a lease then anytime over the past ten. These credit-challenged individuals that are now financially healthy and aware of the loosened regulations are in need of improved credit scores and a solid education of what requirements must be met in order to gain success and save in fees for real estate purchases, mortgage loans, credit cards, car loans/leases, equipment leasing, and even business financing.
Potential tenants and home buyers who sat on the sidelines working to improve their financial situations after a short sale, foreclosure, loan modification, bankruptcy and more have a great opportunity NOW to enjoy the historically low interest rates before they rise and home pricing begins its cyclical journey of sky rocketing.