House old, needs work, credit not good, need to refinance but can't . What help is there?I have an old 1910 house that needs LOTS of work. I would like to refinance so hopefully we can get some money to fix it. We are not underwater on the house but it has depreciated in value over 60,000 in the past few years just as all the houses around it has. Our credit is not too great and I doubt that anyone would refinance us with the issues that this house has, i.e. electric and plumbing. It does have a new roof and lots of potential. What advice would you give us? I don't think we can sell it in this condition. Do we just get it repossessed although that is a dire alternative that I wouldn't like to consider. Renting it out won't work until it is fixed. Is there any other type of mortgage we could try for that allows for fixing the problems with the house? May 09 2012 - Central00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.