Debt Consolidation

Custom Search
 

Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
Cheap Home Loans
Reverse Mortgage -
With Banks, Credit
Fixed Rate Mortgage
Refinancing First and
Home Equity Line
Benefits of Refinancing
Home Loan Refinance
How to Refinance
What are Mortgage
Mortgage Loan Negotiation
Does Paying Points
Mortgage Refinancing Tips
Mortgages - Points
Adjustable Rate Mortgages
Thought You Can
Mortgages. Higher Lending
Buy To Let
How to Qualify
Whats The Mortgage
Take The Time
Which Home
Taking on Home
The What and
Bad Credit Mortgage
Mortgage Brokers
Mortgage Brokers -
Balloon Home Loans
Pay Off Your
Home Loans -
Interested in a
Explaining Mortgage Loans
A Lenders Point
Benefits of a
Refinancing Your Home
Sitemap
Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
 
How You Can Get A Bad Credit Refinance
by Christopher Luck
Recently, my significant other and I decided to refinance our house. We were unaware of the fact that we had bad credit until we sat down with a mortgage lender who told us our credit scores were terrible. He suggested a bad credit refinance.

Recently, my significant other and I decided to refinance our house. We were unaware of the fact that we had bad credit until we sat down with a mortgage lender who told us our credit scores were terrible. He suggested a bad credit refinance.

There are a number of reasons you might have bad credit. The biggest cause of bad credit for most people is making late payments to various lending institutions on a regular basis. This tells most lenders that you cannot make regular payments to your other lending institutions, and that you are probably not capable of making regular payments to their institution. The later you are with your payments, the further your credit score plummets. Poor credit can also be caused by any type of bankruptcy. Whether you have used the type of bankruptcy that clears all of your debt or you have used the type that reorganized your debt so you could continue to pay it, most people use bankruptcy as a final option. It is sort of the last chance gulch for many debtors. No matter the type of bankruptcy you have filed for, the entry will remain on your credit report for seven years. It is a major signal to lenders that you are not to be trusted with loans. As a result, it can cause a very poor credit score.

There are lots of different reasons lenders give people with bad credit money. However, there is something you must remember. They are never, never doing this out of the kindness of their hearts. Their terms for bad credit refinance loans are often stiffer than regular loans. Lenders will typically charge much higher interest rates on any type of bad credit loans. This not only makes your monthly payments higher, it also makes the total amount you will owe the loan company substantially higher.

Even if you have bad credit, though, you may still qualify for a bad credit refinance. This is a great option for people who are interested in debt consolidation. Refinancing your mortgage can offer you the cash you need to pay off bills, take care of upcoming expenses, send your child to college, or take care of necessary home improvements. You will, essentially, be getting a secured loan by offering your home as collateral. This does, however, mean that if you screw this loan up, you will lose your home, no questions asked.

There are a number of different companies, primarily internet based, that offer bad credit mortgage refinance loans. Most of them offer fast, personal service. You can often get a loan decision in a matter of minutes via your e-mail account. This can be a refreshing change to people who are used to sitting down in a stuffy bank environments.

While obtaining a bad credit refinance can be more difficult, and they can cost more in the long run, it can help you to reestablish your line of credit after you have experienced credit problems. For us, a bad credit refinance was the solution to consolidating our debt. Perhaps when our credit report looks a bit sunnier, we can refinance again and leave the world of bad credit loans for the world of loans that offer better rates.

Christopher M. Luck has an extensive background with helping others that have terrible credit get a bad credit refinance and is now offering his free professional bad credit advice to the public. If you are at all interested in Christopher's bad credit refinance advice, tips, or secrets, you can visit his bad credit blog

 
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Beallsville village Balance of Mount Hope town Little Blue township Occoquan town (pt.) Liberal city (pt.) Negaunee Lignite San Joaquin Lake City borough Biddeford Hinsdale village (pt.) Freemansburg borough Noblesville Buckingham township Baldwin township Phippsburg town Pismo Beach Martins Ferry Balance of Remsen town Lawrence township Warrens village St. Paul town (pt.) Pilot Station Joliet township Buchanan County Ludlow town Newtonsville village Balance of Collingsworth County Califon borough Balance of Waldo County USA UK Australia Canada Benin Malaysia China, People's Republic of Brazil Comoros Sudan Vatican City Wake Island Liechtenstein Thailand Hertfordshire Northamptonshire Oxfordshire Ayrshire Buckinghamshire Orkney Nairnshire Angus West Sussex Staffordshire District of Columbia (DC) California (CA) North Carolina (NC) Minnesota (MN) Oklahoma (OK) Kentucky (KY) Marshall Islands (MH) Maine (ME) Georgia (GA) Louisiana (LA) Washington (WA) Virginia (VA) Georgia (GA) Illinois (IL) Missouri (MO) West Virginia (WV) North Dakota (ND) Northern Mariana Islands (MP) Rhode Island (RI) Tennessee (TN)