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how do i refinance a mtg in my own name after a nasty divorce left me with damaged credit in IL?

Nasty divorce left me with sole possession of the marital residence but with damaged credit - score of about 600 or so. He was ordered to quit claim his interest to me and i went through a modification process for make payments affordable. I am current with my payments. However, I have a short window to remove his name from the actual mortgage note or he will be allowed to quit claim his name back onto the property but not have to contribute to the payments or upkeep.  How do i find a lender to work with me on refinance at a decent rate with dinged credit in Illinois?  I have a 5% interest rate through the modification and am making regular timely payments. However, his name was included on the modified note.
  • August 08 2012 - Yorkville
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Answers (1)

I would look at an FHA mortgage perhaps. They technically do not an credit score requirement, but most banks allow 580-600.
  • August 08 2012
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