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What is the meaning of a “bad credit loan” in Canada? First of all, it is a way for people with less-than-perfect credit rating to borrow money.
In an Aug. 15 letter, the Federal Housing Administration (FHA) added economic events to its list of extenuating circumstances and reduced the waiting period between foreclosure and loan qualification from 36 months to 12.
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A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral. A mortgage loan is a very common type of loan, used by many.
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