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Can I refinance a mortgage with bad credit?

Written By: jacob on November 13, 2009 5 Comments

I have been in the house 8 years and have a rate of 7 for 30 years. I have terrible credit and wonder if it would benefit me to refinance to a lower rate?

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5 Responses to “Can I refinance a mortgage with bad credit?”

  1. Everyone Say PEACE! on: 13 November 2009 at 4:36 pm

    See http://www.esuperfind.com/lowermybills.phpp?id=hra0tt16koo9 the actual firm is an Experian company BBB approved so very safe.
    They might or they might not. It depends on many factors and how huge the debt is.

  2. XYZ on: 13 November 2009 at 4:36 pm

    No.

  3. Realtoratheart on: 13 November 2009 at 4:36 pm

    Tom only a lender can tell you for sure.

  4. infinite crisis 247 on: 13 November 2009 at 4:36 pm

    depends on what you mean by "terrible" credit. most places won’t even talk to you without a score of 620 or higher these days. best case would be a streamline refinance, but again if you have terrible credit they won’t want to touch you. there is also the issue of what is the value of your home vs. what you still owe on the loan? if the numbers don’t jive the refinance isn’t happening anyways.

  5. Michael on: 13 November 2009 at 4:36 pm

    buildcredit.ifastnet.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

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