Bad Credit Auto Loans – Bad Credit Car Loans Blog

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I’m not sure how the the idea that dealerships can sucker people into high interest rates got started. This idea though is at minimum, outdated. Sure their are dealerships that are not on the up and up, these days, with all of the regulations though, it is hard for a dealer to do shady business, but this almost never carries over into the loans for one very important reason.

As far as I can see, the “Making Home Affordable Refinancing Program or HAMP, is intended to allow mortgage holders to refinance their mortgage by missing several payments or only paying a portion of the balance to bring the mortgage to a near default stage. Once these homeowners are in that magical near default stage, the lenders, by way of the Making Home Affordable Refinancing Program are highly encourage by Obama’s new policies to refinance at a much lower rate. The result is a very lower interest rate reward for the homeowner.