Bad credit a term which gives chills among home loan borrowers, means the borrower has a bad reputation of default in repayment schedules. Loan amount taken for home purchase has to be repaid along with interest at certain timely period over the years. Not being able to pay the EMI’s and interest regularly and delayed payments make the borrower a defaulter. Failing to repay the loan Emi on regular basis gives bad reputation as a loan taker and in future other lender will hesitate to lend money to such an individual. This is in no way meaning that the borrowers are bad or do this on purpose. There may be an emergency or unplanned expenses due to which this situation has arisen. Here the bad credit loans come as a breakthrough for the individual. Bad credit home loans simply mean that the past history of loans of the individual borrower has a history of penalty charges, late payments, cheque bouncing history and so on. They are the ones whom lenders hesitate and turn down for future loa...