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I need to refinance but have bad credit(538) is there any help available

I currently owe 138,000 and the home is valued at 185,000. My current mortgage is a pledge share account. Meaning that there is 100 k in stocks as collateral holding the note.
  • June 04 2012 - Austin
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Answers (3)

Profile picture for user617580
I
  • June 29 2012
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Profile picture for user471793
Most of the bad credit issue is due to costly medical bills. I am one of the unfortunate who does not have health insurance. I do NOT have any credit card debt. I do NOT OWN a credit card. There are 15 negative items on my credit report .How can I get the deragatory items off? How long does it take? How much does it cost? I need to lower my interest rate. My husband has been laid off and i am the only source of income. I am paying 7.5%. Will I qualify for a home mod? Will a cosigner help?
  • June 05 2012
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No lender will refinance you with a 538.
You need to get to the bottom of WHY you have that score and make some changes.
1. Add good credit
2. Remove derogatory credit from the report that might be inaccurate
3. Pay your bills on time for a while


Many people get bad credit and think they are stuck. They do not try to rebuild. If this is you, then you can seek help for rebuilding your credit. I would be happy to point you in the right direction.
If you are just not able to pay your bills.... then you have other problems.
  • June 04 2012
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