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Bad Credit Mortgage Refinance
Author David Schneider | May 23,2007
The Hanson's son was going off to college in three months, but they didn't have the money to cover his tuition. They did, have a significant amount of equity built up in their home. The Hansons decided to refinance their home in order to cash out their equity. At the lender's office, the lender told the Hansons that their credit was not bad, but it was also not high enough to qualify for a prime rate mortgage. Fortunately, they did qualify for a bad credit mortgage refinance program.
 
Bad credit mortgage refinance programs are not just for people with a lot of credit card debt. These are for people who have credit ratings that are slightly under the prime credit rate. Bad credit mortgages are great for people who need to cash out the equity in their homes to pay college tuition, to make home repairs, to pay for medical bills or to pay off high interest rate credit cards. To qualify for a bad credit mortgage, you will usually need a credit score over 620, you will need to have income that can be documented and you will need to make enough money each month to cover your mortgage payment.
 
If you are interested in a bad credit mortgage refinance, then you need to find lenders that both offer this type of loan and that offer qualification criteria that you can meet. To help you with your search you can go to QuoteMatch.com and fill out a mortgage quote request form. QuoteMatch.com will match your search information with the lenders in their database. The lenders that match your requirements will develop a quote and email it to you. Don't let less than prime credit stop you from refinancing your home. Go to QuoteMatch.com today.
 


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