A mortgage loan with bad credit can cause future problems with credit applications and other types of accounts that depend on good financial standing. The commitment of a borrower to maintain good standing by keeping monthly payments current will help prevent the need for a loan of this nature. However, once a transaction becomes predominant on a financial report, the effort to retain a valuable score becomes increasingly difficult. The higher the individuals rating, the more valuable their credit will be in the eyes of lenders. The end result of this situation will lead the individual to have a loss of privileges to obtain credit when most needed.
Dealing with the past history of a negative transaction can result in bringing the account into current status. Repairing the bad report due to negligence over a mortgage loan with bad credit will take years to do. The importance of maintaining good financial standing is preeminent with the use of credit and paying back loans of all sorts. However, if circumstances cause one to fall into unfortunate financial situations, the key issue is to prepare to take whatever measures are needed to make a comeback. The consumer should not allow the distress of falling behind in payments to cause further negligence in attempting to make a recovery.
When applying for a loan, the individual with poor financial ratings should consider the contract that is being made and honor it just as one would a vow to God. "When thou vowest a vow unto God, defer not to pay it; for he hath no pleasure in fools: pay that which thou hast vowed. Better is it that thou shouldest not vow, than that thou shouldest vow and not pay" (Ecclesiastes 5:4-5). Any contract a Christian makes should be kept with the utmost responsibility. Christians are what non-Christians see when they are looking for God, and He refuses to allow His character to be tainted by so-called followers. One can be sure that God will repay those who are selfish enough to take what has not been given and claim it as their own without honoring God who is the Provider. Choosing a mortgage loan with bad credit can be very damaging to an individuals witness to others.
Taking on financial obligations that go well beyond the means of the individual is simply a reflection of a person's shameful human nature that rejects God as Creator and Lord. Defaulting on a mortgage loan with bad credit reveals the lower nature of their soul that rules with covetousness and greed. These sins are those that cause more bad credit problems than any other. In order to overcome these sins and regain financial stability, one must acknowledge their sins of covetousness and greed and only take vows that they can be assured to keep.
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