Jody Hale's Advice

This is a common occurance.  At the time you do that, there will be a title agent preparing the documents.  They will fully explain to you.  Not sure what state you are in, each state has different laws about property posession and how you take it.   Be sure to ask the agent before you sign what your exposure is and how it benefits you. 

I personally lived there for 12 years in the area.  Pinellas Park is a nice family area west of tampa, South of Clearwater, quick access to Bradenton aand Sarasota.  It is north of St Pete.Another nice area closer to Clearwater though is Dunedin.  I believe it is east of Clearwater.the beauty of Pinellas Park is that there are waterways, you are west of tampa with quick access to the airport, 15 minutes from everywhere!Good Luck to you

Yes, you are so close, typically a 7 point increase can be achieved.  homeownership is quite a responsibilty.  Have you really looked at your budget to eliminate things you do not need right now that would allow some room to save?  Homepath has a special until October that might work for you, and you would have to increase another 7 points.  Look at the special on the HomePath site. Then search properties by zipcode that you are interested in.  Homepath does not require an appraisal - so that will help you reduce your upfront costs going in.  I would be happy to work with you.

My understanding is that you cannot charge for rapid re-score costs.  I too have seen wonderful results within 10 days and closed the purchase.

573 is your mid score - work with a credit repair specialist - reputable firms have free consultations and charge you after they perform with positive results.  In our state, licensing is required for repair and counsel of credit and I have seen wonderful results!

What would it take to raise your score?  Have you talked to a professional about what it would take to improve your score and the time frame?  What exactly is causing the score to be so low?  Moving forward, improving your score is a win-win.  It is not that hard to get things back in line.  I would suggest getting to the bottom of the problem and fixing it.

Lending institutions are no longer offering a no doc loans.  Private investors and family members would be the direction you need to go to seek a no doc loan. 

Tara brings up the two most important factors, Cost basis and eligibility.  The time for this conversation is before you put it on the market and there is always a cost to refinance which you may not recapture unless you sit for a while. 

Did your plans change from two years ago?  A mortgage advisor can help by asking the right questions and keeping emotions out of the equation.  Why did you do an arm when you refinanced, you were aware at the time that your rate would rise.  What has changed from the time that you closed that transaction and today?

Start with your local credit Unions, often times they can help you.