There are many folk currently in the world who following the global credit problems that the banking industry have faced now find themselves classed as a bad credit risk.  This may be because they took out too much debt when debt was readily available, or it may just be down to unfortunate circumstances, but in either circumstances they have to deal with their current credit classification.  But life, of course, goes on and people still need to raise mortgages whether they have bad credit or not.  What these people need is for a mortgage company for bad credit to be established.  This of course will not happen, but all is not lost, there are still lenders out there who would be prepared to lend money secured against a property, even if you are a bad credit risk.