mortagesandforeclosures

by The Willy Brothers

Did you realize there are government agencies to help you obtain government grants and loans? Even if your credit score isn't great you could still qualify for loans and grants that can help you build your credit history or even repair build.

Of course to qualify for a loan, you have to follow some specific guidelines. For example, you have to be turned down by two different lending agencies before the government can step in and grant you a loan. To give you an idea, if you need a used car and you are turned down by two distinct used car dealerships, you could qualify for a loan from the government for a car through the appropriate agency.

There are all sorts of government grants and loans available, such as money to help you start a business, grants for a single parent or if you have to care for a foster child. There are grants and loans available to help you pursue a higher education at a university, college or technical schools. Government grants and loans can be a hassle to get because of all of the red tape, but if you qualify often the interest rate is very low so its worth it.

Once you qualify for a grant or loan you have a responsibility to pay it back in a timely manner or be faced with harsh penalties and flagged for the next time you apply. Nothing will be safe because the government has the right to go straight into your bank account and take their money even garnishing your paycheck. Even that inheritance, your great uncle just left isn't immune. When it comes to paying back your debt to the government you should always remember to honor your responsibility. Always remember that the long arms of Big Brother can reach far and wide.

The government also offers grants to help people get back on their feet and pay off their creditors. A grant is free money which does not have to be paid back, which makes them even more appealing. However, if you use the money for anything else other than its intended purpose and they find out, down come the penalties. You may even be prosecuted for fraud so please heed the warning.

A bill passed by Congress offers some help to those who've lost their jobs due to the bad economy and cant pay their creditors. The bill entitles the qualified applicant the right to use legal aid and greatly reduced legal fees, accessible across the country. If you're having trouble negotiating with your creditors, there are government agencies that can intervene on your behalf. Free credit counseling is also available which is really handy if you need it.

Housing nd Urban Development or HUD can help in the short term, if you're temporarily having problems paying your rent. If you're a first-time home buyer with credit that's not so great, HUD can also help you buy a house. Even with less than stellar credit you can still borrow up to 500K at low interest to purchase a home, protected under the Home Buyers Bill of Rights.

When the whole world seems to be against you just because you got into a bad situation, there is hope. Contact your lenders and ask them how you can qualify for help acquiring a government loan or grant.

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Applying for government grants doesn't have to be difficult. Just visit our free resource site with tons of tips on how to get grants.

Get all the information and photos:: http://mortgagewide.info/government-grants-and-loans-info/