dean graziosi teaches you how to get mortgage loan after filing for bankruptcy
Post on 11-Jul-2015
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Dean Graziosi Teaches You How to Get Mortgage Loan After Filing For BankruptcyA mortgage is defined as any real estate property that is collaterally pledged with the lender. In this type of loan, the interest on a property is transferred to the lender of the loan. However, today the term "mortgage" is used in many forms. Before we proceed with our topic, let us first define the term mortgage.
According to Dean Graziosi, mortgage loans are also known as mortgage financing. In mortgage, the bank or loan provider, gives the borrower money equivalent to the amount of property the borrower is willing to purchase. The real estate property purchased with the loan is a collateral property of the lender and the borrower. Legal documents are used to pledge the property as a mortgage property. In most of the mortgages, if the lender fails to pay the debt of the lender, the property is automatically transferred to the lender.
Mortgage Given After Bankruptcy:As the name suggests, it is the mortgage given after the borrower is announced bankrupt. Primary process of bankruptcy mortgage is similar to usual mortgage.Following are given important characteristics of a bankruptcy mortgage. According to Dean Graziosi, after bankruptcy a person's credit score goes to lowest level, which is 300 if expressed in numerical. Some of the companies or banks might refuse to offer mortgage after bankruptcy. However, if the borrower has a financial backup, say he has a good job or income resource, then there are good chances that the banks or lending companies will give a mortgage. Mortgage after foreclosure is almost similar to the mortgage bankruptcy. If your application for bankruptcy mortgage is rejected, you can try once again after establishing a secure income (job or running business). The interests and installments of bankruptcy mortgage are usually calculated on the basis of borrowers current income. The chances of a bankrupt business or corporation to get bankruptcy mortgage are low as compare to an individual applicant for bankruptcy mortgage.Dean Graziosi believes that if you improve your overall credit, the chances of getting mortgage after bankruptcy increases. Dean Graziosi is a real estate millionaire. He started his career with dealing motor parts. He started his first business at the age of 16. This young entrepreneur entered in to the field of real estate at the age of 18. His first real estate project was a run-down apartment building.He renovated the building and sold it on a good profit. After that, he officially took real estate as a career path. He has an experience of over two decades. He is a famous entrepreneur; he conducts seminars and live events. American people are seeing and appreciating infomercials of Dean since 1998. When this soft-spoken person, convincingly delivers informative sermons people found them bound to listen to him. Today Dean lives in a very well built and well equipped home at Phoenix, Arizona. He was not born as a millionaire; neither had he belonged to a Richie rich family. He belonged to a lower middle class broken family. His mother served day and night just to earn 90$ a week. This courageous man never took harsh circumstances as a hurdle in his way. Instead, he used his conditions to climb up the stair of success.
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