Since Mr. Obama took office bad credit home loans have been a hot topic. In the last several years we have seen a large drop in credit scores nationwide and when credit scores drop, interest rates rise. This may be changing as our new presidential administration has been able to lower interest rates and has managed to keep them down as well.

If you have a bad credit score, banks normally see you as a risk and therefore in order to protect themselves they tend to charge higher fees as well as impose higher interest rates on mortgages. However because interest rates are on the dip, a bad credit home loan is not only possible it may be more affordable than you think. » Read more: Bad Credit Home Loans – Equity for You Not Your Landlord