How to Get a Bad Credit Mortgage

The problem with getting a bad credit mortgage is it's expensive.

The only people making loans to people with bad credit are the guys who are charging an arm and a leg for the mortgage. They can get away with it because as long as they follow state usury laws and people are willing to take their money, it's legal. For some borrowers, those who have gone through a foreclosure or a bankruptcy, a bad credit mortgage is better than no mortgage.

If you go that route, just don't plan on sticking with the mortgage for any long period of time. Make it a short-term solution . . . read more about taking out a Bad Credit Mortgage.

More Articles by Elizabeth Weintraub:

• What is a Hard Money Loan?
  
• How to Buy a Home With Bad Credit
  
• Buying a Habitat for Humanity Home

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}