By now everyone know that the economy is near to collapse. As per market survey report, most of banks and lending institutions are responsible for the mess. It was created by greedy lenders preying on those with poor credit scores. In the late nineties and early 2000, loan became available to just about anyone with a social security number, and some cases even to those who don’t. Mortgage Loan and unsecured housing loans were instantly available and approved in just simple process without checking proper repayment history and other parameters and it closed easily cached to people with poor credit score or existing defaulters. The downside of this easy credit is that common sense evaporated when lenders started giving loans to those with bad credit. Unfortunately, those with credit problems had to pay much more for the credit team to be able to access the loans. No one in the credit industry was concerned with the fact that easy credit prevents the poor from ever achieving a better way of life. As result when the news was leaked that slowdown is on the way and everything going to dead and economy about to fail and no one save it, kind of news made the economy defaulter.
Mortgage loan Providers Company came in to trouble and they were not able to survive in market. They closed their services in across USA. Credit card companies preyed on the lower class and those with credit problems by giving cards to these people. In India banks funds above 700 CIBIL score for all loans like secured mortgage loan funding as well as unsecured funding along with taken co borrowers.
At the same time in India, all the banks and financial institutions were doing very hard credit for mortgage loan, home loan and personal loan even in terms of credit cards. Banks were really funding very tightly and this is the biggest reason we could save our economy. RBI played the lead role in saving Indian economy from the largest worldwide slow down . Indian Mortgage loan NPA book are not more than 5% and same time less than 5% of bucket 7 & 8 defaulters pools. It is a situation under control for Indian banks and NBFCs who are funding secured and unsecured loan for helping people.
Mortgage loan for bad credit score are available for salaried and self employed customers , Loan Against property in Pune, Loan Against Property and Mortgage Loan. Check your mortgage loan eligibility and compare the best Loans.
Your credit report is one of the most important factors when it comes to deciding your eligibility for a particular loan.
We provide credit reports for free so you can understand the health of your credit history.Get Credit Report