Can you refinance your house with terrible credit?

Ammie
i got laid off from a big communications company about a year ago. when i got laid off it was about 6 months before i could refinance my adjustable apr on my house. when i got late on payments for a couple credit cards i couldnt even try to get a loan through my broker. my monthly payment has now went from 440 to 850!!! i am single and am working a full time and part time job every day to make ends meet because of this. i have no one to help me refinance this or i would have already. any suggestions?

Williams
Yes, you can, depending on other factors.If you have a large amount of equity, you may be able to get a decent loan.If you haven't been more than 180 days late on your mortgage, you may qualify for another ARM loan with a lower start rate than what you are currently paying.Talk to a reliable national mortgage lender, not a broker, to discuss your options.

Deeanna
If you try t refi, with worse credit history than the original mortgage, then you will either get denied, or a higher interst rate which won't help. You ned to stop trying to borrow your way out of debt, and pay off your debts. Your credit got hosed because you can't manage your money, and if you do get a refi, you will be in the same boat your in now in a couple of months. You don't need to see a credit counselor, you need to see an accountant, and learn how to budget and spend your money... Then you will be able to pay your morgage, and your credit will become good again.

Lorena
Though refinancing your home loan to get extra cash and pay off your credit card debt might be a good idea. It is not the best solution. This serves best the credit card interests and not yours. Because even if you get your debt settled and eliminate it for good, if you don't change the way you spend, you'll keep accumulating debt once again and maybe next time you won't be able to resort to your home equity. Get all information about it at: http://www.credit-card-gallery.com/artic…

Emmitt
yes, my husband and i had the same problem. countrywide home loans helped us. you can now finance upto 40n years, which will lower your payments, then when you get on your feet again you can refinance to shorten the length of the loan. call your local branch or on line. good luck, there is light at the end of the tunnel. they deal with challenged finances everyday

Colin
I recommend Smart Choice Mortgage. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a Smart Choice loan officer will contact you within 24 hours. Good luck.

Bridgett
I am chinese, in china, i cannot refinance my with credit due to my poor salary.for buying a house of 300 square foot, i must be saving all my salary for 30years.

Ka
well how bad is your credit, what is so wrong that is making it bad, you dont pay on time, owe too much, credit score is low, there are many reasons your credit score is low but it doesnt take much money or time to raise it all you need is patience a bit of cash and a brain.if you do your own credit repair and are willing to put the foot work you can raise your score in 90 to 120 days but like i said it takes work. email me if you need more help or counseling i am a credit counselor and repair specialist with lots of custumers and references achef22@yahoo.com good luck

Alta
There are many vendors at the moment who can meet your circumstances. Check online for interest rates and make an application to see how you go. My profile has more information under finance if you need for information.

Charlsie
if you refianace u are paying someone probaably 10 thousand dollars just to switch your loan to them, Dont do it!!!

Adelaide
I can help you refinance! Shoot me an email to msmith@premierloangroup.com, and let's chat!Marty