Refinance With Bad Credit

Question: Where to go for a jumbo loan refinance with bad credit :)????help!!!!?

(Posted by: tristanmcgovern on 2008-03-19 09:02:09)

Posted by: ibu guru on 2008-03-19, 09:13:35

First talk to your current lender and see if they are willing and able to work with you. With bad credit a refi elsewhere is highly unlikely. Nobody wants a bad credit risk these days as they already have too many on the books!

Posted by: lepr0kan on 2008-03-19, 09:14:52

You aren't going to find anyone to refi a jumbo loan with poor credit. Jumbo loans are already very risky and require high scores now. Your only shot is to stick with your current lender and see if they'll negotiate with you.

Posted by: Aileen T on 2008-03-19, 10:58:59

Bad Credit Does Not Mean You Cannot Get A Loan.One of the most popular resources for researching bad credit loans is the internet. Almost all lenders have web sites that provide guidelines and information about their bad credit loan programs, and some even offer online <!--application processes. As noted above, though, don’t fill out large numbers of applications or you may damage your credit rating further. One way to avoid this is to use an independent loans brokerage, who will make applications on your behalf only where they know you are likely to be successful. You may find a bad credit loan here, best-loans.awardspace.com/ Do some research before you submit any loan applications. Check out several lenders, ask about their interest rates and loan terms, and find out more about their loan process. Be careful, though, not to submit a flurry of applications in a short period of time. Activity such as this can actually-- >make your credit rating worse, so make sure you learn as much as possible about each lender’s program before deciding whether or not to complete an application. You can also work with an independent loan broker to help determine which lenders have programs that fit your individual circumstances.