Bad Credit Mortgage Refinance by:Jennifer Hershey
If you are looking to refinance your mortgage but believe you will be unable to because
your credit may be challenged by late payments, bankruptcy, charge off's, or unpaid medical bills to name a few, don't worry, there is hope.There are literally thousands of lenders across the United States that specialize in all different types of mortgage programs for people who have challenged credit.
They are not the typical banks you find down the street from your house that deal with perfect credit only. Nor are they hard money lenders that charge outrageous mortgage rates. They are known as wholesale lenders.
Wholesale lenders work closely with mortgage brokers. Mortgage brokers are the people who work with people looking for mortgages in the way of counseling, educating, and locating a loan for people who find themselves in a unique situation and have trouble finding a loan on their own because their needs may be special.
Keep in mind, wholesale lenders are out there by the thousands, and they are very competitive. So be sure to shop around. Just because you have bad credit, it does not mean that you should be at the mercy of mortgage companies. There are plenty of lenders out there who have programs to lend money to people with bad credit.
The best place to begin your search for a bad credit mortgage refinance would be the internet. Make an attempt to contact no more than four lenders, allow for them to assess your situation, than base your decision on the one that offers you the best deal that meets your needs and budget.
About the author
Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of http://www.explainingmortgages.com/, a mortgage resource site devoted to making mortgage terms and products easy to understand. Why You Should Outsource Your Business Writing Projects by:DJ Nelson Standing Out From The Crowd by:Steve Madsen Your Own Credit Repair Business by:Jay Conners Buying Foreclsoure in Auction - Great Fortune by:Shawn Daren Be Relentless by:Bill Hirst The History of Income Tax by:Richard Chapo Mortgage Broker Strategies 101: Back to Basics by:Shane Brooks Yahoo Publisher Network (YPN), Adsense, And Other PPC Oriented Websites. Where To Start? by:Chuck Crawford Getting The Biggest Benefit From Tax Help by:Stephen Kreutzer Creating Wealth in a Home Based Business by:Nicole Matoushek MPH, PT On Google's Franchise (and McCormick's) by:Geoffrey Gannon Planning For Retirement by:Stephen Kreutzer Bad Credit Unsecured Loan— Despite, Financial Respite by:Andrew Baker