Second Chance Mortgage Loans

Since we started originating 2nd chance loans twelve years ago, we always tried to offer solutions for bad credit mortgages. BD Nationwide can match you with subprime, hard money, FHA and home equity programs for borrowers looking for second chance mortgage programs. We understand the growing demand of alternative finance programs as millions of American borrowers do not qualify for the traditional loan programs offered by Fannie Mae and Freddie Mac. We offer a wide variety of non-conforming second chance home loans for buying and refinancing residential real estate in all 50 states.

Learn More About 2nd Chance Home loans for All Types of Borrowers

Our team members always make every effort to get you approved for a mortgage that makes the most sense for you financially. Many applicants have turned to us after being rejected from multiple banks and finance companies. Our 2nd chance mortgage lenders understand the difficulties in finding a loan program if your credit scores are low or your house is underwater with a mortgage that is greater than your property's value. Our lending affiliates offer several different programs for borrowers with low fico score or who lack equity needed to qualify for traditional loans. Get a free quote today with a great rate and discounted lender costs.

Second chance loans provide a new opportunity for consumers to reduce their housing expenses with lower interest rates and discounted monthly payments. Many of our clients have been able to consolidate debt and reestablish their credit at the same time. With so many applicants being turned away from banks and credit unions these days, it is imperative to have alternative home financing for good borrowers who just don't happen to fit perfectly within a guideline matrix. Now is a great time to shop and compare quotes for competitive pricing and terms for subprime and 2nd chance mortgage programs.

2nd Chance Loans for Bad Credit and Underwater Mortgages

2nd Chance Loans

Many people lost equity in their house during the recent housing crisis. Many homeowners found themselves stuck in an underwater mortgage. Many of participating lenders offer several second chance loan solutions for upside-down refinancing with the harp 2.0 and the streamline.

We provide 15 and 30-year terms with most of our subprime and FHA insured programs. We have been offering help to borrowers that need a jumbo or high balance mortgage as well. The second chance mortgage rates are great and our requirements are more flexible than ever before.

Also see these other popular programs for borrowers with less than perfect credit.
FHA Loans for Bad Credit | Poor Credit Home Loans | Bad Credit Home Equity Loans


FHA Offers Second Chance Loans For People With a Foreclosure

The simple truth is that there are a lot of people out there who have a credit history that is less than perfect. When the financial crisis hit a few short years ago, there were very few people that weren't affected in at least some way. Many individuals lost their homes because of predatory lending practices or subprime loans that ballooned out of control and left them with a mortgage payment that they simply could not afford. Other people may have found that the flood of foreclosed properties in their area cause their own home value to drop, making it difficult to sell a property that they were no longer interested in keeping.

With a wide variety of different situations out there, it is good to know that there is a second chance home loan for individuals who have a foreclosure or other credit problem in their recent history. While not everyone will qualify, there are a surprising number of options available for individuals who feel that the time is right to go about purchasing a new home.

A new initiative known as the "Back To Work Program" from the FHA is designed to help borrowers who have had recent problems with their mortgage. Specifically, this program is designed to help individuals who suffered problems because of an economic issue that was beyond their control. In order to qualify for this program, an individual must have been involved in one of the following events:

  • Forbearance agreement
  • Loan modification
  • Chapter 7 bankruptcy
  • Chapter 13 bankruptcy
  • Foreclosure
  • Short sale
  • Pre-foreclosure sale
  • Deed in lieu

An individual that is able to provide proper documentation of a 20% drop in their income will then be required to go through a counseling session that lasts about one hour before essentially being forgiven of their history by the FHA.

Mortgage News

2nd Chance loans with FHA

Mortgages for People with Bad Credit Scores

2014 Home Refinancing Programs

Mortgage Loan for First Time Home Buyers

Second Chance Mortgage


Resource Tools

ARM vs. Fixed Rate Calculator
Learn how to compare home mortgages with fixed and adjustable interest rates.

 

Additional Refinancing Pages:
Refinancing after a Bankruptcy | Bad Credit Refinance | Bad Credit Mortgage | 100% Refinancing | Cash Out Refinance | Subprime Mortgage | No Credit Check Home Loans | FHA Refinance| Harp Refinance | Interest Only Mortgage Refinance | No Documentation Refinance | 30-Year Mortgage Refinance | Home Loan for Bad Credit | Home Refinancing with Bad Credit | Mortgage Refinance for Bad Credit | Low Credit Score Home Loans | Bad Credit FHA Mortgage | No Credit Home Loans
Other Popular Loan Products:
No Income Mortgage | Bad Credit Second Mortgage | Zero Down Home Loan | VA Refinancing with Bad Credit
Apply Now | Disclaimers and Terms | Home Loans
BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please note that this is not an advertisement for credit. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and BDNationwideMortgage.com does not make loans or guarantee the approval of "2nd chance" loans. Nationwide was affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright © 2001-2013 and Beyond, BDnationwidemortgage.com is a website and cannot make loans. All rights reserved. Please note that rates and program guidelines may change on second chance mortgage loans.