Can I get a loan with bad credit and on disability?

Collateral Loans

You use your home as collateral when you borrow money and “guarantee” the financing with the value of your home. This means that if you do not repay the financing, the lender can keep your home to cover the repayment of your debt.

Refinancing your home, getting a second mortgage, taking out a home equity loan or a home equity line of credit (HELOC) are common ways people use their home as collateral to obtain home equity financing. But if you can’t repay the financing, you could lose your home and the mortgage amortization you’ve accumulated. The accumulated amortization on your home mortgage is the difference between what you owe on your mortgage and how much money you could get for your home if you sold it. High interest rates, finance charges and other closing and credit costs can also greatly increase the cost of borrowing money, even if you use your home as collateral.

Loans secured by deeds

This is the contract signed between the Intermediary Financial Institution (IFI) and the beneficiary. Through this contract, the IFI grants the beneficiary an amount of money for the exclusive purpose of financing the construction or acquisition of the home, the home that is purchased or built is mortgaged in favor of the IFI as a guarantee of the aforementioned loan.

In the event of noncompliance with the obligations agreed in the contract, the IFI will initiate a process of execution of guarantees, which will allow the sale of the property. The proceeds from the sale will be used to pay off the unpaid debt, plus accrued compensatory interest.

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Techo Propio is a program created under the Ministry of Housing, Construction and Sanitation whose main objective is to promote, facilitate and/or establish adequate and transparent mechanisms that allow the popular sectors to have access to decent housing, in accordance with their economic possibilities.

The main benefit of the program is the Bono Familiar Habitacional (BFH), a one-time subsidy granted to the beneficiaries, with no restitution charge, which constitutes an incentive and complement to their savings and construction efforts.

A person with a disability can be sued for

The permanent or prolonged functional alteration, physical (motor, sensory, organic, visceral) or mental (intellectual and/or psychic) that implies considerable disadvantages for family, social, educational or labor integration.

It is the process of adapting or readapting the individual, through the application of medical, social, psychological, educational and labor measures, and actions for the elimination of the disadvantages of the environment in which he/she lives, with the objective of achieving the highest possible level of capacity and social inclusion of people with disabilities.

It is the part of the rehabilitation process aimed at enabling people with disabilities to obtain and keep a job, especially through vocational orientation and training, and selective placement.

Hospitals and mutual insurance companies of the National Integrated Health System may not discriminate in the affiliation or limit the assistance to disabled persons and must inform, advise and guide those who need it of the various possibilities of care.

Laws that protect the disabled in colombia

Answer: This is due to the right to reserve and confidentiality that every financial consumer has. This right establishes that any information related to the financial operations of each person can only be known by the owner or by those persons who have his authorization, in addition to the cases established in Article 473 of Law No. 393 of Financial Services.

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Answer: The financial institution is obliged to divide national currency bills into smaller cuts or coins in its central offices, branches, fixed and mobile agencies in the national territory.

The term of validity of the required certificates will be established by the issuing competent authority, in case the certificate does not have such term, its validity will be of ninety (90) calendar days from its date of issue.

Answer: The contribution certificates are the representative titles of the contribution and membership granted by a cooperative, establishing the quality of the member. They are nominative, individual, equal in value and unalterable. They are not mercantile documents, nor can they circulate in the stock market; in this sense, their return implies the voluntary withdrawal of a member.

Can I get a loan with bad credit and on disability?
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