Bad Credit Mortgage Refinancing – Refinance High Interest Mortgage With Poor Credit
With bad credit, you cant afford not to refinance a high interest mortgage. Working with the right lender, you can trim your loan costs and help your monthly budget. You even have the option to cash out part or all of your equity to pay off high interest credit card debt. Subprime lenders can help you secure financing and reestablish your credit.
Ways To Reduce Your Rates
Even with poor credit, you can lower rates on a future refi loan. Adjustable rate mortgages offer lower initial rates than fixed rate mortgages. Often for two to seven years, rates can be guaranteed. After that, rates are based on an index fund, so they may increase. But with most lenders you can either lock in rates earlier or refinance.
Some lenders will also further reduce your rates if you opt for automatic payment. Your monthly mortgage payment is deducted from your checking account, so you dont worry about getting a payment in the mail.
The surest way to find low rates is to compare loan quotes. Each lender will offer you a different loan package with varying rates and fees. Base...
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