Can A Payday Loan Modification Suit A Sub-Prime Loan?
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As you know, mistakes credit score can make it more tough to qualify funds. However, since a second mortgage is often a secured loan, it shows that your lender does have some security in deal - namely the equity with your home available as collateral. Therefore, the fact that you have a low credit score does not come into play as much. You may pay a higher interest rate, but all of your qualify to borrow money.
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With a loan, the borrower doesn't have give any type of security for that loan. An unsecured loan typically comes at higher interest rates than a comparable secured student loan.
