No matter how BAD is your credit score...
In less than 3 weeks, we will refinance your current mortgage loan
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Bad credit score or poor history is OK
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Self employed is OK
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Recent bankruptcy or foreclosure is OK
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Any other challenging situation is OK
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If you have tried to get a home mortgage refinanced with bad
credit scores, you know how challenging it is. Forget about refinance mortgage
loan with full cash out, even ninety percent or eighty percent loan-to-value
refinance seems impossible. Every mortgage broker who initially claims to
specialize in bad credit mortgage refinance..... ultimately fails to deliver.
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Please don't get MAD at your mortgage broker
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My suggestion is that you don't get mad at your mortgage
broker. The truth is that it's simply not easy to get a refinance mortgage loan
when you have a bad credit score. Your mortgage broker gets you a refinance
loan by working with big banks and institutional lenders. They banks have very
rigid credit score criteria. So if the bank or the lender says NO, the mortgage
broker is helpless. And the reality is that the bank WILL reject your mortgage
refinance loan application if you have a bad credit score, even if you have
excellent income.
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How did we solve this problem?
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The answer is Private Refinancing. Private refinancing
is a refinance mortgage loan provided to you by a group of small, private
investors. Conventional refinance mortgage loans are provided by banks and
lenders, which have very strict credit score criteria. Unlike such banks,
private investors are not restricted by credit score criteria.
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Private Investors make their own rules
....because its their own money !
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People with bad credit are perfectly OK with private
investors. All private investors care about is your ability to make the
payments. That's why they can give you a refinance mortgage loan when your
mortgage broker cannot. Private Investors will make refinance mortgage loans in
the following situations where mortgage brokers may not:
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Bad credit score or poor credit history... is OK
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Self-Employed...is OK
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Not Enough Down Payment... is OK
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Can't Afford Closing Cost... is OK
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Recently Switched Job or First Job... is
OK
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Little or No credit history... is OK
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Recent or prior Foreclosure...is OK
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Recent or prior Bankruptcy... is OK
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Recent or prior Divorce... is OK
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Prior Collections...is OK
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...or any other challenging situation... is
OK
In fact, most of our company's clients have been rejected by traditional loan
companies due to bad credit. So if you have been rejected before, don't wait to
take advantage of our "Bad Credit Mortgage Refinance" program.
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You can refinance your current mortgage loan in less than 3
weeks
....using our innovative techniques
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| To get started with our company's bad credit mortgage refinance program, please
fill out the following information:
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| Please note that due to the high demand of our home loan program, it might
take us up to 3 business days before we can get back to you.
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Bad Credit Home Loans by state |
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Why does it make sense for people to get a bad credit mortgage refinance?
There are various reasons why credit challenged people would like to get their home refinanced:
- Reduce the interest payments from other loans: Since home loans are at usually a lower interest rate than other types of consumer loans like credit card debt, car loans etc, people with bad credit can reduce their payments by getting a refinance mortgage. In addition, home loans have a longer repayment period therefore its easier to reduce your payments on other loans by refinancing into a mortgage loan. This is because the payment is spread over a longer period of time.
- Consolidate debts into one easier payment: People with poor credit usually have a lot of unpaid loans like car loan, credit card loan, cable, utility bills etc. By refinancing their home, people with bad credit can pay off other smaller loans by using the money received from the refinance. This way bad credit people can consolidate their debts and reduce the number of payments they make to various lenders.
- Get out of higher-risk adjustable rate mortgage loans: People who have poor credit can reduce their financial risk by refinancing their adjustable rate mortgage loans with a fixed rate mortgage loans.
- Get cash for other expenses: A bad credit mortgage refinance may give people access to ready cash for other expenses like home improvement, new car, vacation money etc
- Reduce taxes: Interests on mortgage payments are tax deductible while interest on credit card loans and car loans are not. People with poor credit can refinance to use this strategy to increase their tax deduction which will lower their taxes. This strategy may also move them into a lower tax bracket.
- Improve FICO scores: You get more credit by Experian, Trans Union and Equifax for making timely mortgage payments to your lender then making timely payments on credit card or car loans. This helps people with poor credit to get back on track faster.
- Avoid Bankruptcy or Foreclosure: Sometimes a bad credit mortgage refinance loan can help people to avoid bankruptcy or foreclosure. The extra cash from the home refinance can be used to delay or avoid foreclosure or bankruptcy. This extra time can give people a second chance to get back on their feet without totally damaging their credit.
By now its obvious that people get a bad credit mortgage refinance for various reasons. We have tried to list a few commons reasons for a mortgage refinance. However, to list all the reasons is an impossible task. This should be just taken as a guideline in order to decide if a bad credit refinance is the right solution for you in your situation.
Bad credit refinance mortgage is a lot faster to get compared to a bad credit home purchase loan. When getting a home purchase mortgage loan, there is a lot of time consumed in finding the right home once the borrower is pre-approved. And unless the borrower is not pre-approved they don't know what price home can they afford. So they have to wait to get pre-approved before they can start their house hunting. On the contrary, when applying for a bad credit mortgage refinance there no house search involved. So the subprime lender can move a lot faster. Once the appraisal report is in the only hold up is the time the underwrite takes. Therefore in general we can get your bad credit mortgage refinance a lot faster.
Our bad credit mortgage company has been helping people to refinance with a successful track record. In fact, most of our company's clients have been rejected before by other other lenders and mortgage brokers. So if you have been rejected before do not feel like all your refinance options are closed. Most likely our company will be able to help you.
To get started with our bad credit mortgage refinance company, please fill out the following |
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