Everywhere we go, we come across advertising. Advertising information comes at us at every turn, and few of us can completely ignore it and not read what the ads are telling us. The problem, however, is that such messages also bend our own ideas about the world. For example, if we see here and there that today anyone can get a mortgage for anything at very favorable terms, we suddenly feel that it is very easy to get money, and if we can\’t come up with the money, nothing would be easier than going to the bank and getting a mortgage . Many of us have this distorted view of the world. When you suddenly find yourself in real need of money and step into your first bank for the purpose of arranging a mortgage there, you will probably get a big shock. You will realize that the money is not in your hands as you thought it would be, that you will have to prove a million facts to get it, and that it may not work out after that.
In fact, banks check applicants thoroughly before lending money to anyone. And they check as thoroughly as they can. And any applicant who does not meet even one of the established criteria, such as having a criminal record or a low income, is immediately turned down for a bank loan. He is on the risk list and there is no way to move him.
He can borrow from a non-bank. Certainly the loan terms are not as favorable as with banks, but it is a reasonable way to borrow money, even if he has a criminal record and a low income. In this case, you can get a non-bank mortgage without a registryor proof of incomeand still have enough money for your personal and business needs.