freedom mortgage bad credit.

freedom mortgage bad credit. Credit is the amount of funds lent by the bank to another party, whether it is an individual or a business entity, in which in the process made a credit agreement that will bind both parties with various provisions and obligations that have the power of law. In the credit agreement, a debtor (borrower) will be required to make repayments and repay all of the loan along with interest and various fees charged by the bank, which must be done on time and in accordance with the initial agreement set forth in the credit agreement.

In the process of submitting credit, will be done several stages as below:

freedom mortgage bad credit. Prospective debtor applying for credit to the bank. This can be done after all conditions determined by the bank, can be fulfilled and attached in the application of credit application.

The bank will conduct verification, either via telephone or by conducting a survey directly to the residence and workplace of prospective borrowers. This is done to ensure the correctness of data that has been given by the debtor and check the debtor's eligibility in receiving the credit.

The Bank will make a decision regarding the credit application, if the debtor is found to be feasible and meet all sorts of criteria that have been established, then the bank will approve the credit application.

When the loan will be disbursed by the bank, then both parties will make a credit agreement that aims to bind both parties in a credit agreement. In this agreement will be loaded various credit conditions, such as: credit period, the amount of installments to be paid by the debtor, interest on credit, penalty fees, penalties and various other expenses. This Agreement shall also contain all sorts of obligations of both parties and any other consequences if at any time one party is negligent and / or does not perform its obligations.

As a party acting as a creditor, it is fitting for banks to have criteria and classification of the quality of credit they spend. This is intended to facilitate the process of classification and handling of various problems that may arise in a credit agreement that has been done. The classification of credit quality conducted by banks aims to calculate potential loss reserves that will affect the bank portfolio and become one of the indicators of bank health assessment conducted by Bank Indonesia (BI) and the Financial Services Authority (OJK).

About Freedom Mortgage

Freedom Mortgage Corporation is a full-service national mortgage banker with retail operations, wholesale, correspondent, and commercial origination and services. The company is licensed in all 50 states, DC and Puerto Rico. Freedom Mortgage maintains an A + rating with the Better Business Bureau and is known to use the most advanced technology and deliver world-class services to its clients, borrowers and partners. The company was founded in 1990 and is headquartered in Mount Laurel, New Jersey. For more information, please visit www.FreedomMortgage.com. 800-220-3333

Forward-looking Statement

Freedom Mortgage Corporation is a private company. This press release may be deemed to contain forward-looking statements, subject to the safe harbor terms of the Private Securities Litigation Law Reform Act of 1995, including a statement regarding the expected benefits to consumers from using the Freedom Mortgage Corporation service. Readers are cautioned that these forward-looking statements are predictions and may differ materially from future events or actual results due to risks and uncertainties. Any forward-looking statements in this release are based on the limited information currently available to the Mortgage Free Corporation, which is subject to change, and Freedom Mortgage Corporation will not always update the information.