Code, for bad news

Have you ever heard a statement like this?:bad credit mortgages

  • “It appears that you have ‘bruised credit’, due to a ‘non-performing loan’.  Because of this, we can offer you a mortgage at a ‘non-prime’ rate.”  

Here’s what it really means:

  • “You’ve got a terrible credit rating, because you defaulted on a loan.  We can still offer you a mortgage, but it will be expensive.” 

If you hear, or read a term that you do not completely understand:

  1. Stop dead in your tracks, and ask your Broker.
  2. Get a second opinion on what’s being offered to you.
  3. Look it up on Google.
  4. Go to to completely understand the definition of the term, and its implications for you.