Sub Prime Mortgage Refinancing Options [mortgageapproved.blogspot.com]
For sub prime mortgage loans from private lenders, visit privatemortgagelending.ca or call 416 464 4113 and speak directly to private mortgage broker Joe Walsh
mortgageapproved.blogspot.com Sub Prime Mortgage Loans From Private Lenders
A bad credit rating may get a homeowner turned down for a mortgage refinancing or modification. Often times, homeowners who have bad credit do not even know where to start when looking for a refinancing. However, typical mortgage lenders and banks do not always help homeowners with bad credit. This means that a homeowner who wants to get approved for a mortgage refinancing should look for the proper lender, especially if you have bad credit.
Mortgage Refinancing Options with Bad Credit
With mortgage interest rates rapidly declining, many homeowners are looking at getting a home loan modification or refinancing. Mortgage rates, just a few years ago, were 9% while the same loan today would come with a 5% interest rate. Homeowners who are able to reduce their interest rates by refinancing will see big savings every month on their home loan payment.
The money that is saved can help a homeowner improve their financial position.Mortgage refinancing, even for homeowners with a low credit score, can mean a big savings. Sub prime mortgage lenders are companies which deal specifically with homeowners who have bad credit. Also, a sub prime mortgage lender can usually offer you a lower interest rate than a traditional mortgage lender or bank could, which makes your refinancing more beneficial.
Finding the right Sub Prime Mortgage Lender
Homeowners have the luxury of being able to use the internet to research potential mortgage lenders, and mortgage refinancing options. Most mortgage lenders and banks will actually have forms which can be filled out online.
Although relevant information such as tax returns, pay stubs, bank statements, and other related information will still need to be supplied.Mortgage refinancing is easier to get than ever. Homeowners have a wide choice of mortgage lenders and banks which would love to have them as a customer. Take action now and get yourself into a lower monthly mortgage payment.
More Sub Prime Mortgage Refinancing Options TopicsQuestion by edell999: I need to find a Hard Money/ Sub-Prime mortgage lender.? Just looking for a mortgage lender that lends money to people with low credit score and/or credit challenge due to recent problems such as bankruptancy, foreclosure, divorce-those kind of things. Info like fees, interest rates,points, loan terms and LTV will be appreciated. I live in FL, but an online company will be fine Best answer for I need to find a Hard Money/ Sub-Prime mortgage lender.?:
Answer by Orthodox_Ted
Try Countrywide - http://www.countrywide.com They support people in your situation although your interest rate may be a lot higher in the beginning.
Answer by John S
Email me and I'll send you a couple names.
Answer by Searchlight Crusade
Talk to a bunch of brokers in your area. That's the best way to end up with a good rate, no matter what your credit, but subprime makes it more so. Have conversations of at least half an hour with at least six. Tell them your situation completely. Don't try to get cute. Listen to what they all tell you before making a decision. And be aware that there are essentially no penalties for lying in order to get you to sign up, and sign up at least two different places. Gives you a way to hold their feet to the fire thirty days on when they have the loan and you need it.
