My husband and I need to refinance our home to lower our monthly payments. We are paying 9% right now. We both have bad credit. About 4 years ago we started getting behind and couldn’t make credit card payments. It was either pay them or pay our house payment. So I just didn’t pay them. We also have some unpaid medical bills that our insurance didn’t cover after the birth of our daughter. The creditors are always on our backs. In May we will be eligible to refinance our home (we had a prepayment penalty clause in our mortgage agreement). What chance do we have of getting a lower interest rate and lower monthly payments? Any help is greatly appreciated!
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
Bought a home in April 07, with a sky high interest rate, due to lack of credit. How long before i can refinance and get a lower rate? Thanks
Whenever your credit is good enough to get a lower rate.
Now may be the time for you to jump off the sidelines, and refinance your mortgage as rates are near all-time lows, leaving lenders swamped with people trying to refinance. KXLY4’s Tori Brunetti reports.
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Just wondering if anyone had any information about being able to refinance a home equity loan to receive a lower rate and if so, how to go about doing that.
Hi there,
When it comes to refinancing a home equity loan you reall have to shop around to make sure you get the best deal. You your deciding on your option you make to make sure you get the following
*Competive Rate
*Lower you repayments
* Great Customer Service
You must not forget the last point, remember your the customer and the customer is always right !!!!
Give these guys a go, I think you will be pleasantly supprised
http://tinyurl.com/yqnx37
In this video I give you the highlights on the governments HARP-Home Affordable Refinance Program
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I am trying to refinance my home but a lien with the courts is putting a stop to it. Just trying to figure out if their is a way around it without having to pay it off which isn’t an option.
No, the lien is there to prevent just this, you can not access your equity without paying the lien off. There is absolutely no way to remove it other then paying.
So my fiance and I loaned his mother $10,000. She has to refinance her home and is paying us back when that is all finalized. Her house has already been appraised and she has done it before. Her bank says that she qualifies.
She is going into the bank on Monday or Tuesday to finalize thngs.
How long should it take to get the money?
Shouldn’t take too long at all. Maybe a week and a half?
If there’s a judgment on the title of a home, the title company has to order a demand for payoff on that judgment before a home can be refinanced. Find out how a per diem interested can be charged in this scenario with help from a financial services manager in this free video on refinancing homes.
Expert: Matthew McKillen
Contact: www.excelmortgage.com/
Bio: Matthew McKillen brings 21 years of industry experience in arranging loans for his clients.
Filmmaker: Christopher Rokosz
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With no money down? This is our first home and we’ve owned it for 4 years and looking to refinance.
Very bad idea. You take unsecured credit card debt and a car loan and put that all into your mortgage and you’ll be paying on it for the next 30 years. Stringing it out means you’ll pay a lot more interest.
Many people do this but turn around and run the credit cards right back up. And of course, you will need to buy a new car long before that mortgage is paid off. Now you have that bigger mortgage and all theother debt. If you can’t keep up, you could lose your home.
If you refinance, do it to lower your interest rate. That will lower your payment and free up cash to throw at that credit card debt.
http://car-model-08.blogspot.com/ To get more interesting videos…. This video is about Refinance Home Mortgage ( Zhou Ding Wei I Will Not Sing Avenue Part 3)
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