Bad Credit Refinance

Is the era for affordable bad credit refinance loans coming back? Many of our mortgage lenders offer loan refinancing with bad credit from our FHA and subprime programs. Refinance to get access to cash or consolidate adjustable rate debt for lower payments and increased savings. Bad credit home refinancing can offer provide an opportunity for subprime borrowers with poor credit scores to get cash out, fix their interest rate or take out a second mortgage and consolidate debt. Bad credit is an unfortunate reality for thousands of homeowners across the country. It can be difficult waiting patiently for you credit scores to rebound so you can qualify for a better interest rate on your 1st or 2nd mortgage. Stop wasting your money monthly and get a no hassle quote for a poor credit refinance. There is no cost for a refinance quote and we can connect you with lenders have the ability to approve bad credit refinance loans that could give you a second chance.

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Refinancing with Bad Credit for Better Rates and Lower Payments

BD Nationwide will try and match you with trusted bad credit refinance lenders that have experience helping homeowners escape the hardships and stigma that come with having low scores from Trans Union, Experian or Equifax.

Some of affiliated lenders offer products for bad credit refinancing like FHA, fixed conventional mortgages and debt refinancing for homeowners with all ranges of credit scores. There have never been more opportunities to qualify for a loan with no equity or bad credit refinancing. The Federal government has extended new relief options to homeowners that have not been able to meet the standards and qualifications required by traditional lending companies. If you are looking for a bad credit mortgage refinance it would be wise to get more information about your eligibility.

Subprime & FHA Mortgage - Bad Credit Refinancing - Hard Money Loans

Discuss your situation with lenders that offer competitive refinance programs on first and second loans for homeowners with less than perfect credit who have been struggling with derogatory issues like past bankruptcies, foreclosures and collections. Our company provides bad credit refinance loans in an effort to improve your situation and save you money.

Our Nationwide lenders have designed mortgage refinance products for people with low fico scores and bad credit. If you have had problems in the past with your credit, but want to refinance bad credit like a home loan or second mortgage, then you have come to the right place.

Should I wait for my bad credit scores to rise or refinance my house now?
Bad Credit Refinance
Refinance and Save with Fixed 30-Year Loans Falling to Record Lows

Yes it is still possible to refinance with bad credit. You will need some compensating factors and demonstrate the ability to pay the new loan based on your present income. The timing for refinancing if you have less than perfect credit will vary. If your loan is already adjusting and your monthly payment continues to rise, then the sense of urgency is much greater to refinance than if your mortgage rate has not be fluctuate then you have the luxury of waiting for better credit scores or more favorable interest rates.

Refinance Bad Credit and Trade an Adjustable for a Fixed Interest Rate that Saves You Money!

Even with low credit scores, interest rates are low and FHA continues to insure bad credit refinancing. Nationwide has been helping consumers to refinance with bad credit scores as long as the homeowners have been able to pay their home loan payment on time over the last 12 months.

  • Sub-Prime Mortgage Refinance to Escape Higher Rates and Variable Terms
  • Refinancing Bad Credit Loans Often Makes Sense Financially
  • Poor Credit Loans to Reduce Housing Expenses from Bad Credit Refinance Lenders
  • Find Mortgage Refinancing for People with Bad Credit
  • Consider Alternatives to a Loan Modification


Linda's Advice for improving your credit before getting a refinance loan
Ask Linda?

Paying down any of your credit cards that are presently at their limit will increase your credit scores in most cases. Clearing up discrepancies on your credit report is another way to increase the credit scores. Bad credit refinance loans are often more accessible than most people realize. You will need to provide documentation to solidify your request. If you have the ability to prove that there are errors on your credit report, you should make an effort to get them removed. In many cases, rectifying mistakes on your report will increase your credit scores and provide new opportunities to qualify for a more affordable mortgage. Refinancing for bad credit can be a complex procedure that most homeowners do not have the patience to endure. The fact loan with a low interest conforming loan can save your thousands of dollars a year.

When Is The Best Time For A Home Equity Loan?

Equity home mortgages can be efficient tools for financing house repairs, refinancing revolving charge cards and even cash to jump-start investment opportunities. In some cases, credit lines can improve cash flow while providing the flexibility to access the funds when you want to, rather than in a lump-sum installment loan. Having a credit line can provide a safety net of cash reserves for family emergencies and investment opportunities. We suggest getting approved for now for a cash out loan or credit line when you need it least. Read more about equity and bad credit refinance loans at our blog that is constantly being updated for current loan guidelines and new mortgage products as they change.

Team up with the Bad Credit Mortgage Refinance Specialists
Whether you have poor, fair, or perfect credit, our lenders offer refinance programs that can help you lower your existing payment with a lower rate. Consider home refinancing with bad credit, even if you have fico scores below 600. There may be opportunities available to improve your financial state by minimizing your housing costs. Learn more about bad credit refinancing with FHA, VA and Freddie Mac.

Balance May Be key with Risky Mortgage Loans: I/O and ARM

A Report out of Washington, discussed the proposed federal guidelines released at the end of last year on non-traditional mortgage products. The goal is to offer consumers helpful info to protect consumers who don't have the experience to know all of mortgage products' risks. The NAR agrees that it's imperative that these federal guidelines don't go too and eliminate loans that offer significant benefits to homeowners when used properly. According to the organization refinancing with bad credit makes sense if you can get approved from a lender offering a lower fixed interest rate. In 2013, it was very difficult to find lenders that offer interest only or negative amortization options for refinancing with bad credit. It is our contention that these deferred interest loans are too risky so seek consultation from a financial advisor outside of the mortgage industry prior to making a commitment.

The guidelines direct lenders to assess borrowers' ability to repay a loan not just during the introductory period, when rates are at their lowest, but later in the loan term when the rate is fully indexed and fully amortizing. Lenders should also be sure borrowers can repay loans when any balances added through negative amortization are included.

The use of nontraditional mortgages, such as interest-only, pay option and variable interest mortgages has grown in recent years, with lenders and brokers increasingly offering them to sub-prime and other borrowers who have trouble accessing conventional financing. NAR, long an advocate for the careful use of risky mortgages, recently teamed with the Center for Responsible Lending to produce a consumer brochure, "Specialty Mortgages: Shopping for a Mortgage? Do Your Homework First".

In its comments to the proposed guidelines, NAR will stress the need to keep nontraditional mortgages available to appropriate borrowers, particularly in high-cost areas. Having the option to complete a home refinance with bad credit will help reduce foreclosures and loan defaults.

Get a Quick Bad Credit Refinance Quote from the Team at BD Nationwide. If you need to get cash out for paying off high interest loans and credit card debt, now is the time to consolidate your debt. Did you know that a bad credit home refinance is one of the quickest methods for homeowners to increase their cash flow? We have helped countless homeowners realize their dreams with reduced payments and affordable loans for house repairs, construction, 2nd home purchasing and of course consolidating unsecured debt. Find out if you meet the standards of a mortgage refinance for bad credit.

Improving Your Credit Scores and Refinancing Bad Credit

Most homeowners understand the impact of not paying your bills in a timely manner. If you are late mortgage payment, you can expect your credit scores to drop 50 to 100 points. Late loan payments will adversely affect your credit rating. It is also very important to keep your balances to a minimum for revolving credit cards. Credit experts agree that it’s better to refinance or pay-off credit card debt rather than play games moving your outstanding balances from one credit card to another.

Save Money Now and Refinance with Bad Credit!

The new credit score model is good news for consumers because Trans Union, Experian and Equifax no longer penalize applicants for applying online for a mortgage. Until recently applicants were hindered with reduced scores every time a lender ran their credit. Now consumers can shop home loans online without being worried about having their credit scores lowered. For more credit score insight check out the Holden Act that was created to ensure "fair lending."
Get a Free Credit Report
Go online and get a tri-merge credit report at no cost. (annualcreditreport.com)

Just Say "NO" Loan Program for Refinancing with Low Credit Scores

  • NO Mortgage Insurance
  • NO Verification Of Mortgage
  • NO Verification Of Rent
  • NO Verification Of Deposit*
  • NO Assets Verification*
  • NO Requirement for Tax & Insurance Impounds
  • NO Bankruptcy Seasoning
  • NO Full Tax Returns Needed For Self Employed
  • NO Seasoning Of Reserves*

Mortgages for Bad Credit

Credit Refinancing
* Bad credit refinance program terms and interest rate are subject to change. Loan to value and minimum credit score requirements are two critical factors in most loan programs.

 

Resource Tools


Refinancing Calculator
Analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.

Not Sure How Much Money You Need for Remodeling? Set up a Home Equity Line of Credit that provides funds when you need it. Did you know that you are only charged interest on the portion of the credit line that you access?

Compare New Subprime Products Online Now. Find out what is needed to pre-qualify home equity lines or refinance loans for people with bad credit scores.


Free Refinance Guides & Helpful Consumer Reports

Take advantage of these free guides and disclosures that assist homeowners with their quest to secure a mortgage refinance with bad credit scores.

Understanding Credit Scores
ARM Rate Mortgage- Guide


Keep up with today's interest rates. Current Refinance Rates


Recent Mortgage News

Bankruptcy Next Step for Refinance Lender? When Ally took over GMAC Mortgage, also known as "ResCap" they were not thinking bankruptcy.  However since they acquired the lender they are considering filing for bankruptcy protection. The high risk refinancing and no equity 2nd mortgages have seen a dramatic rise in defaults in recent years.

Refinance Applications Rise – The 1st quarter saw a 4% rise when compared to the first quarter of the previous year. Low interest rates ad an easing of guidelines were the reasons that volumes spiked on good and bad credit refinance programs. The rate for applicants getting approved remained low because lenders have not been able to make the transition of approving refinancing for poor credit borrowers. Nationwide continues to maintain a higher approval rate on refinancing with homeowners that have low fico scores.

FHA Expands Streamline -
After much talk, the Obama Administration and Housing of Urban Development requested that the Federal Housing Administration expand their popular streamline refinance program to include underwater mortgages. New legislation suggests that the Home Affordable Refinance Program will enable borrowers that have underwater loans are insured by the FHA to be refinanced with no "loan to value" restrictions. Finding a lending source for a FHA bad credit refinance has not always been easy, but BD Nationwide has simplified the process of shopping for sub-prime companies that are more willing to take risks on homeowners with a checkered credit history.

Refinance with Bad Credit
There has been a lot of talk about more loan programs becoming available 2014 and 2015 to help more people refinance with bad credit scores. Many mortgage lenders have discussed introducing some subprime programs to provide refinancing for underwater mortgages and borrowers that have less than perfect credit.

Additional Refinancing Pages:
Refinancing after a Bankruptcy | Bad Credit Mortgage Refinance | Cash Out Refinance | Subprime Mortgage Refinancing | Home Refinancing with Bad Credit | VA Refinancing with Bad Credit | Home Loan for Bad Credit

Apply Now | Disclosures and Terms | How to Refinance with Bad Credit
BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024

Please be aware that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. Loan programs subject to change without notice. This website cannot make loans or guarantee approvals for bad credit refinancing. Nationwide is affiliated with a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright 2001-2013 and beyond, Nationwide Mortgage Loans, BDnationwidemortgage.com. All rights reserved. Do not duplicate in any form. In some cases lenders may choose not to approve all applications for the bad credit refinance.