View Single Post
Old 04-24-2003, 07:40 AM   #5
geof
Senior Member
 
Join Date: Oct 2002
Location: Cincinnati Ohio USA
Posts: 286
Default

Here, financing is not a problem-if your credit score is reasonably high-the problem in most cases with financing is the individuals Fair credit score is too low....If that happens, then the lending instutition can refuse-raise rates-require larger down payment-more insurance-co/ signers-and a many other hoops to jump through....one of my business partners who does re-finance and new financing, has about 50% of his current business with people who have a Fair Credit score of less than 350....they pay an ungodly interest rate....some in the double digits to own real property-cars-adult toys etc....It's kinda a shame that the people that really need financing have to pay such high rates-"but that's business"...the lenders have to cover their backsides as the risk increases....geof
geof is offline   Reply With Quote