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Rhode Island Bad Credit Mortgage Lenders

Rhode Island is the smallest state and was one of the original thirteen colonies to declare independence from British rule. Rhode Island ’s estimated population is 1,076,189, which is a decrease of 3,727, or 0.3%, from the prior year and an increase of 27,870, or 2.7%, since the year 2000. These figures include a natural increase since the last census of 15,220 people and an increase because of the net migration of 14,001 people into the state. If you like the ocean, Rhode Island is a great place to live, with no point in the state being farther than 30 miles from the sea. Although the name suggests it, Rhode Island is not really an island.

First time home buyers are normally about to make the largest investment of their lives, and the terms of a mortgage can often mean the difference between a life of stress or a life of affluence. As such, it wouldn’t be a bad idea for people who are looking to enter into their first mortgage to look into exactly what they are signing up for. If a first time home buyer is unsure about their rights and responsibilities, there are agencies which act to help protect and inform home buyers and home owners from the possible dangers involved in buying a house.

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In Rhode Island, one of the more well known agencies in this area is Don’t Borrow Trouble Rhode Island. Don’t Borrow Trouble RI gives free advice to people who are considering taking out a loan and help for people who are in danger of losing their home.

The overall goal of Don't Borrow Trouble RI is to promote stability and success among families and individuals targeted by predatory lenders through a public education initiative in the state. Particular emphasis will be given to vulnerable populations, particularly families in a financial crisis, communities of color and the elderly.

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With the help of organizations like Don’t Borrow Trouble, and others like them, the process of becoming a home owner in Rhode Island should be as pain-free as possible. As a small state, Rhode Island has a reputation for looking after the little guy, and helping the underdog whenever they can. The median value of a home in Rhode Island is slightly above the national average, at $133,000 while the national average is $119,600 dollars. Despite the higher price of homes, Rhode Island is a great state whose population and economy is growing steadily every year.

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