How to Get a Mortgage With Bad Credit?

If you have a great credit rating, you won’t find it difficult to get a mortgage. Almost every lender will be more than happy to serve you. On the other hand, if your credit rating is low, you will face a hard time getting a loan to finance your new home.

Your credit reports and credit rating is quite important for creditors to find out if you are a good or bad candidate for a mortgage loan. Aside from this, the assessment of your creditworthiness allows lenders to get a better idea of the amount of money they can lend you with confidence. In other words, this can assure that that you will make the payments on time.

The credit reports and scores will help a lender know if you have paid back your previous loans without any missed deadlines. If you have had a lot of late payments, or payment delinquents, chances are that you have a poor rating. The mention of any of these can be a red flag to your prospective lenders. Since the goal of the lender is to make lots of money, they may take you as a risk.

Unfortunately, if you have changed your habits, they will still review your past to get an assessment whether it will be a good idea to do business with you. Similarly, if you have a credit score in the range of 750, the lender will still consider your debt usage. If your reports show that you have taking loans quite often, they may find it a bit too risky to grant you a loan.

First-Time Home Buyers

If you are a first-time homebuyer, getting a conventional home loan with poor credit rating can be a bit hard nut to crack. However, it’s not a goal that is impossible to achieve.

Tips to Qualify for a mortgage with Bad Credit

Given below are a few tips that you can use to improve your chances of qualifying for a credit rating. If you follow these tips, chances are that your application will be approved.

1. Make a Larger Down Payment

First, if you don’t qualify for a non-traditional loan, you can wait for a while and save money to make a larger down payment. The problem is that lenders consider borrowers with a bad credit score a great risk. Generally, lenders are willing to grant loans to lenders who can make at least 20% down payment. Therefore, if you can pay that much as down payment, you will be able to qualify.

2. Reduce Your Debt Usage

If you have poor credit rating and you are trying to get a loan, we suggest that you reduce your overall ration of debt-to-income. This ration allows a lender to figure out the amount of money you can afford.

3. Use Your Rental History

In most credit reports, you can’t find information about the user’s rental payments. But if you can, you can prove that you made all the payments on a consistent basis over the past 24 months. Aside from this, some other reporting tools can also. They may include RentTracki, Rental Kharma, and Rent Reporters, to name a few.

Before you go for a tool, we suggest that you do your homework to find out about the monthly charges and fees. Aside from this, you should find out if your private data can be protected and the steps you need to do if you cancel the service.

Keep in mind that these tools provide reports for only big credit bureaus. However, you can also find some that can send their reports to all of them.

4. Explain Your Circumstances and Credit Rating

Another good way is to write a letter to explain your situation. In the letter, you should mention the reasons of your negative points on your credit report. And you try to convince the lender that the mistakes won’t happen again.

Also, you should assure that that you are trying to handle the situation you are in. For instance, you can help them realize that you are looking for a job. Before talking to the lender, make sure you get documents to spell out the credit challenges you have been facing. Aside from this, if you can spell out the derogatory items on your credit history, you may be in a better position to get a mortgage.

When taking to the lender, make sure you are specific. You shouldn’t be afraid to provide details of your concerns and needs. This will save you from a lot of headache down the road.

Conclusion

Long story short, if you have a bad credit score but you are still looking for a lender to give you a loan for your first home, we suggest that you follow the tips given in this article. Make sure you also discuss the matter with your mortgage specialist or mortgage broker.

Employment Reference Checks – Best Practices When Checking Employee References!

Employment reference checks are considered as one of the best tools to inquire about a prospective employee. Reference checking has always been an important factor for all the companies who want to make the informed decision of hiring the right employee.These days’ applicants are asked to provide employment references, such as previous employers or coworkers, whom employers can contact to learn more about the candidate. Employment reference checks are used to verify truthfulness and accuracy of information applicants provide about themselves and to reveal negative job-related background information hidden by the applicants.Unfortunately, previous employers are increasingly reluctant to provide references or background check information for fear of being sued by previous employees for defamation. If former employers provide potential employers with unsubstantiated information that damages applicants’ chances of being hired, applicants can (and do) sue for defamation. As a result, 54 percent of employers will not provide information about previous employees.This situation is very discouraging for employers as it creates a hindrance in their fair selection process and in determining the true value of an employee. But as we know that there is always a way to handle things with care to get optimum results without a problem. So by remembering the basic goals and using best practices in employment reference checks cannot only save time but also relieve all the fears of defamation.Two Essential Goals for Employment Reference Checks:
To discourage applicants to hide something. An applicant with a serious criminal conviction is less likely to apply in the organizations that announce pre-employment background and referencing.
To encourage applicants to be very honest in their applications and interviews. Since applicants are told there is a background check, they have a motivation to reveal information about themselves they feel may be uncovered with a probable reference check.
Best Practices When Checking Employment References: Employers have a number of options with regard to checking the references of a prospective employee. These can change from having the human resources person or the hiring manager call the former supervisor directly to check the reference, to third party to collect background information on a candidate, including checking references, and then reporting back to prospective employer.If an employer decides for employment reference checks than they should be looking into the following guidelines:
Include a statement on the application for employment directly above the applicant’s signature line stating that all information on the application on the application is subject to verification and that any false or misleading information may result in refusal to hire or, if already hired, the immediate termination of employment.
Require every applicant for employment to sign a waiver and consent form authorizing the prospective employer to check references and authorizing all former employers, supervisors, and managers to release information in response to a request for a reference and/or verification of employment.
Establish a written procedure for reference checking including when in the hiring process reference checks will be conducted, who will conduct the reference checks, and what kinds of documentation will be kept of information obtained through reference check.
Limit questions to information that is job-related; don’t ask for medical information, information about physical characteristics, and/or other personal information that is not related to the employee’s conduct on the job.
Consider preparing a list of job-related questions that will be asked of all finalists for a particular position. This may help avoid claims of discrimination or claims that prospective employer inquired about the information that it was not legally entitled to have.
Be fair and consistent.

Stop! My Kid Can’t Eat That: Food Allergies In Children

In the middle of the night in Atlanta, I got a frantic call from my daughter in Chicago. “Daddy, I’m so sorry to wake you, but Michael just ate a little piece of cashew and now his face is swollen and he’s breaking out in a rash all over his body.” Once I realized that her voice wasn’t just part of some bad dream, I gave my doctor’s orders: “Give him Benadryl and take him to the emergency room immediately!”As a board-certified allergist for 25 years, I recognized that my grandson was having a potentially serious allergic reaction and that his symptoms could get worse-much worse. Fortunately, by the time they arrived at the hospital, the swelling had subsided and his hives had resolved.Even though my grandson’s diagnosis was easy to make, food allergies can be one of the most frustrating and complex allergy issues facing physicians, patients, and families. If you consider the unlimited number of foods and additives we consume today, the variable time between ingestion and allergic reaction, and the varied and often-subtle symptoms, it seems miraculous when an allergy-triggering food is actually identified.Food Allergies In Children: A Disturbing TrendAsk anyone who raised children 25 years ago if they ever heard of food allergies back then, and the likely answer will be no. Yet today, who doesn’t know a child-if not several kids-who have severe food allergies? Pediatricians and allergists are observing first-hand that food allergies in infants and children have increased to epidemic proportions over the last few decades. Studies have shown that in the under-18 age group, the prevalence of reported food allergies increased 18% between 1997 and 2007. Approximately 4% of Americans are estimated to have food allergies. That’s more than 12 million individuals. The prevalence of food allergies is even higher-6% to 8%-in infants and young children under three years old.Any type of food can trigger an outbreak, yet the “Big 8″ account for more than 90% of all cases: milk, eggs, peanuts, tree nuts, fish, shellfish, soy, and wheat. Sesame is quickly becoming another common cause of allergies, especially in those with Mediterranean diets. The good news is that the incidence of documented food allergies decreases with age, probably due to the development of tolerance in children allergic to milk, wheat, soy, and eggs. Of the 2.5% of children allergic to milk, approximately 80% will “outgrow” their allergy by age five. Kids with peanut or tree nut allergies aren’t as lucky: Recent studies have shown that only about 10% to 20% of children will lose their allergy as they age.Pediatric Food Allergies: Instantaneous Outbreak Of the two main types of allergies, the “immediate hypersensitivity reaction” gets the most hype, probably because you can see the symptoms (whether it’s hives or swelling) right away. The other kind is aptly named “delayed hypersensitivity reaction.” Otherwise known as IgE-mediated, the immediate allergic reaction is the best understood and the most easily diagnosed. Yet it can also be the most serious. When the proteins in an allergenic food come in contact with an IgE antibody (located in the skin, gut, and airways, or in the blood), a cascade of cellular events occurs resulting in the release of histamine and a multitude of other chemical mediators. The rapid release of the histamine and other chemicals is what causes the allergic reaction. The outbreak, which generally occurs within minutes of ingestion, can be relatively mild or severe. Moderate symptoms might include a rash, generalized itching and redness of the skin, facial or eyelid swelling, abdominal cramping, vomiting and/or diarrhea. These can be treated with a quick-acting antihistamine and tend to run their course over a few minutes to hours. The most severe reaction is called anaphylaxis, which can occur instantaneously or a few minutes after ingestion. As a general rule, the quicker the onset of symptoms, the more serious the reaction is likely to be. Symptoms of anaphylaxis might include those mentioned above, but can also rapidly progress to breathing difficulties and chest tightness (due to bronchial constriction and swelling of the airways), a drop in blood pressure leading to shock-and even death. Epinephrine (also known as adrenalin), which is available for self-injection in the form of an Epipen and other auto-injectors, must be given immediately and repeated if necessary. Foods that commonly cause severe reactions include peanuts, tree nuts, fish, sesame seeds, milk, and eggs. The most serious reaction I ever witnessed resulted from the ingestion of a single pine nut. That tiny seed (it’s not really a nut) transformed a healthy teenager into a critically ill patient within a matter of minutes. Fortunately, the patient recovered, but anaphylaxis can be fatal if not treated immediately and aggressively. If your child has ever had an immediate allergic reaction to a food, you should consult with a board-certified allergist. To identify or confirm the symptom-triggering food, the allergist will likely give a few tests, either through the skin or blood. From there, you and your allergist can come up with a plan to eliminate the food from your child’s diet and discuss prevention and management of future reactions.Delayed Allergic Reactions: Subtle Yet ElusiveWhile less dangerous in terms of one’s immediate health, the “delayed allergic reaction” can be much more difficult to diagnose and treat. As the name implies, it can take hours or even days after ingestion for the symptoms to show up, making it harder to establish a cause-and- effect relationship. The typical symptoms can involve several organ systems and may be quite subtle in their presentation. In addition to the classic allergy symptoms (think nasal congestion, a runny nose, and a rash), delayed reactions may also present with very vague and nonspecific symptoms, such as frequent headaches, recurrent or chronic abdominal pain, fatigue and lethargy, irritability, dark circles under the eyes, leg pains, and recurrent ear or sinus infections.Part of the difficulty in diagnosing these food reactions is that there’s no reliable allergy test that can accurately identify or predict a delayed outbreak. Skin testing and blood tests aren’t helpful because they only measure the IgE antibody, which is responsible for immediate reactions. Research has not yet identified the antibody or antibodies responsible for delayed reactions, although there has been considerable interest and research in the possible role of the IgG antibody. Blood tests to measure this antibody are available, but its reliability as a predictor of delayed allergy has not yet been established.So how can you figure out if your child’s symptoms are the result of something he or she is eating? The best method we have right now is to eliminate the suspected food (or drink) from your kid’s diet for four weeks. If you notice a significant improvement in symptoms, you’re ready for the challenge phase: Serve the food in question for several days straight. If the symptoms start recurring, you can be relatively sure that a cause-and-effect relationship has been established. Even after avoiding the food culprit, it can still take a few weeks for symptoms to completely disappear, so be patient.By far, milk and other dairy products are the most common cause of this type of reaction. Over the years, many teenagers have walked into my office with their parents complaining about stomach discomfort and profound tiredness. By the time they’ve come to see me, they’ve usually been through various tests and have seen multiple physicians, including gastroenterologists, and have often been diagnosed with irritable bowel syndrome. After hearing about their saga and symptoms-and seeing the dark circles under their eyes and their pale, sallow complexion-I can usually tell that it’s a dairy allergy. Fortunately, many responded dramatically to a few weeks off of milk. They couldn’t believe that the innocent act of drinking milk and eating dairy products could make them feel so ill-and that avoiding these products could restore their good health and vitality in such a short time.Food Allergy Cross-ReactivityIf you’re like me, you may have a food allergy that’s directly connected to your sensitivity to tree and weed pollens. Called “oral allergy syndrome,” this condition shows up when there’s a cross-reactivity between tree or weed pollens and corresponding foods that share a common allergen. For example, because ragweed pollen and foods in the gourd family share a common allergen, people allergic to ragweed may exhibit symptoms after ingesting foods such as melons (watermelon, cantaloupe, and honeydew), zucchini, cucumber, and bananas. Because I’m allergic to ragweed pollen, I cannot eat melons or ripe bananas without developing intense itching in my throat. If you’re sensitive to birch tree pollen, you may react to apples, pears, and apricots. Celery may be a problem for those allergic to mugwort pollen.The typical symptoms, which are generally mild and transitory, are itching of the throat, mouth, and tongue. That aggravating throat itch often compels sufferers to rub their tongue against the soft palate, making a characteristic “clucking” sound. The vast majority of patients experience symptoms within five minutes of ingestion. Depending on the time of year, the presentation can be affected by the particular pollen season. The upside of this condition, which is the most common food-related allergy in adults, is that symptoms are only caused by the ingestion of raw or uncooked fruits or vegetables. The heating process that occurs during cooking breaks down the allergic protein, so you can eat boiled, baked, fried, or roasted fruits and veggies without triggering symptoms.Allergies In InfantsBecause of their age, newborns and infants can be especially sensitive to food allergies. Symptoms may include colic, irritability, excessive spitting and vomiting, rashes (including eczema or hives), nasal symptoms (such as congestion and runny nose), coughing or wheezing, and other gastrointestinal symptoms (diarrhea, bloody stools, or constipation). There can also be poor weight gain. Allergies in infants up to age one are almost always caused by food-most commonly cow’s milk. Yet a baby doesn’t have to drink milk straight for symptoms to break out: The proteins in cow’s milk can enter the baby’s system through some commercial formulas, as well as by passing through the mother’s milk during nursing. A small percentage of milk-allergic babies are also allergic to soy.In recent years, researchers have devoted themselves to understanding the disturbing rise of food allergies, especially in infants and kids. What they have discovered is leading allergists and physicians to dramatically revise recommendations on how and when we introduce foods to infants. For many decades, the time-honored and well-established approach was to delay the introduction of highly allergenic foods into the infant’s diet to prevent the emergence of food allergies. For example, solid foods are generally not recommended until six months of age, cow’s milk until one year, eggs until two years, and peanuts, tree nuts, and fish until three years. There is also a widely accepted notion that breast feeding alone for the first six months of life will minimize or delay the onset of food allergies and other allergic diseases (including asthma), as well as atopic dermatitis or eczema.The latest medical evidence, however, is debunking these age-old theories. Indeed, the recommendation to delay the introduction of foods to infants as a means of preventing food allergies may be the wrong approach altogether. Recent studies have revealed very credible scientific evidence to suggest that the common practice of delaying the introduction of cow’s milk, eggs, peanuts, and other foods may increase the child’s risk of developing food allergies. And, even more importantly, there is evidence to suggest that the early introduction of allergenic foods may actually prevent the development of the allergy to that food. As an example, a recent study demonstrated that children in England were ten times more likely to be allergic to peanuts than children in Israel. One very strong hypothesis to explain this finding is the fact that Israeli infants are introduced to peanuts, generally through Bamba (a Peanut flavored snack that is used as a teething food), at about six months of age. On the other hand, children in England are generally not introduced to peanuts in any form until approximately three years of age. This study is just one of many that strongly suggest that an early introduction to certain foods can help babies build desensitization, thereby decreasing the risk of developing a food allergy.Managing Severe AllergiesHistorically, the treatment of serious food allergies has consisted of avoiding exposure and ingestion of the allergenic food, and making antihistamines and epinephrine immediately available. Total abstinence is indeed difficult and often impossible, as evidenced by the large number of accidental ingestions and allergic reactions that have resulted in emergency room visits. Even with strict avoidance measures, the potential for sudden and life-threatening outbreaks can lead to extreme anxiety in both the child-and the parent.Fortunately, medical research has now proven that orally-administered immunotherapy can result in a significant degree of desensitization, or tolerance, to a given food in most allergic patients. This form of therapy, however, is associated with a significant amount of risk and should only be performed under the watchful eye of a board-certified allergist experienced in oral tolerance induction. Presently in the United States, this form of desensitization is being performed at a few highly-acclaimed medical centers.An Allergy-Free FutureWith all the time and money being put into food allergy research, there is excitement in the medical field about the possibility of new breakthroughs in the near future-both in prevention and treatment. I, for one, am optimistic that a safe and effective treatment is close at hand.