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Holidays not the only factor in consumers' massive debt struggles
According to the website, the average U.S. household (including those that are deeply indebted) owes $15,270 on credit cards; $149,925 on its mortgage; and $32,258 in student loans. That's $197,453 per household in any “It's more

West Bank earnings rise 9.8% despite drop in mortgage fees
West Bancorporation Inc., the parent company of West Bank, overcame a steep drop in mortgage origination fees in the fourth quarter by expanding its loan portfolio and trimming the amount of money it sets aside for bad loans. The Texas ratio, a

Thunderbird community split by school's plan
Thunderbird community split by school's plan What brought Thunderbird to this crossroad was an extended period of financial struggles, with losses in nine of the past 12 fiscal years and debt in the form of the $25 million mortgage. For most of its “The alumni weren't fully informed,” said

PRESS SUDDENLY BULLISH ON IMMIGRATION: WashPost 2-col. lead, “House GOP may move on reform of immigration: WHITE HOUSE HOPES TO STRIKE A DEAL – Boehner will outline principles for party's caucus” … that President Obama is engaging in 'class

Bad Credit Mortgage Lenders Bad Credit Mortgage lenders provide financing and hard money loans refinancing nationwide. This story demonstrates the ...

Is Congress expanding credit for the poor or enabling high-interest ...

Ken Rees has made a fortune selling loans with triple-digit interest rates to borrowers with poor credit history or no credit history.

Over the years, he’s developed a knack for finding loopholes in usury laws in states that cracked down on so-called payday loans — a label that has morphed from describing short-term, small-dollar loans to include longer-term loans that carry sky -high interest rates but still can trap borrowers in a cycle of unsustainable debt.

Rees became the CEO of payday lender ThinkCash in 2004. The company spent its early years avoiding state laws prohibiting high-interest loans by working with First Bank of Delaware, a federally regulated bank that was exempt from state regulations outside its home state and could originate the higher interest-rate loans and retain a portion of the interest.

More than a decade ago, this so-called “rent-a-bank” arrangement was common among early payday lenders. Federal regulators ruled that the model was deceptive and took enforcement action against the most egregious violators. Since then, the industry has evolved, and it’s unclear what is legitimate and what is deceptive, leaving enforcement spotty.

How Renting Furniture In Texas Can Land You In Jail

When Melinda Sandlin walked out of Discount Furniture in Austin in late 2014, she was sure the store had put her on a payment plan to buy a new bedroom suite worth $2,750.

A year later, after realizing she had sent in more than $3,000 for her seven-piece set, she figured she was done. So Sandlin told the store clerk she wasn’t going to be making any more monthly payments.

“I already bought it out,” she recalls telling them. “And they're like, 'Oh no, read your contract. It's a rental contract. It's not a purchase contract.’ ”

That’s when her nightmare began.

Sandlin, 43, had signed a “rent-to-own” contract through a company called Acceptance Now — a division of Plano-based Rent-A-Center , one of the largest rent-to-own companies in the United States. Sandlin had no clue the company had embedded itself in regular furniture stores around the country.

Not only would Sandlin have to pay another $5,000 in order to keep her bedroom set — on top of the more than $3,000 she’d already paid — she found out the company has a legal hammer unique to the rental industry. And taped phone calls indicate the company threatened to use it on her.

Credit Check on Spouse Home Mortgage in TX?


My husband and I live in Texas and recently decided to make a home purchase. He became pre-approved with them only running him, since I have no income and bad credit (stupid decisions in my youth that I am still working on fixing).

I would not worry about it.
The lender may have your name but they do not have your social security number. They obviously cannot run your credit without it.