Are "regardless of bad credit" loans a scam?

Are "regardless of bad credit" loans a scam?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Will lenders look at my bank accounts?; What can I do if I am rejected for a mortgage loan?; How much of my monthly payment is considered interest? and more...

No, "regardless of bad credit" loans are not a scam. Nowadays, there are what are called subprime lending institutions that, if you do have a credit score at 520, or 540, you can still get mortgage money. You are definitely going to pay a higher interest rate, but it can be done. There are plenty of lending institutions out there nowadays that can give you a mortgage loan, even if you have credit issues, mortgage lates, credit card lates, or bankruptcies. I know a few banks I can go to right now with whom, if you're one day out of bankruptcy, I can get you a loan.