Bad Credit Mortgage Refinance Loans

Recently, some investors created several alternative refinancing programs for bad credit so that homeowners with low fico scores or past delinquencies can find a second chance loan that yields more savings and lower monthly payments. We offer alternative mortgage refinancing opportunities for homeowners that are unable to meet the conforming guidelines. Talk with bad credit mortgage lenders that believe in 2nd chance refinancing and our underwriters know that there is more to a assessing a borrower's risk than the scores issued by the credit bureaus. BD Nationwide can match you with lenders that extend subprime and FHA refinancing options for borrowers behind on bills. Our lending team provides non-conforming refinance loans, as well as fixed rate mortgages, government loans, lines of credit and hard money for borrowers with a bad credit history. Our bad credit mortgage lenders want you to consider refinancing with a subprime or a FHA mortgage even if you are behind on your existing loans. If you have an adjustable mortgage loan that has an increasing monthly payment, it's time to get your loan approved and interest rate locked. Our experienced team always strives to get you the best loan that makes financial sense with your short and long term goals. Many distressed homeowners already have found out that a bad credit mortgage can be difficult to get approved, even if your house has equity. Get matched with private money sources that provide several refinance solutions for people with less than perfect credit.

New Opportunities with Mortgage Refinancing for Bad Credit from Lenders


Government Mortgage Refinance Spotlight

FHA refinancing has become one of the most popular tools for homeowners that have been struggling with credit or equity requirements. Nationwide offers a 15 and 30-year loan that is government insured. There is mortgage insurance, but very little equity is required with FHA loan programs. FHA discontinued the secure loan program but recently expanded the streamline loan for existing FHA customers that need to refinance but had been unable to qualify because their mortgage was greater than their home's value. The expanded streamline loan does not require an appraisal.

Also see popular government choices for people with low fico scores:
VA Refinancing with Bad Credit | FHA Loans for Bad Credit | FHA Refinancing with Bad Credit

FHA, Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac are also working towards stemming the tide of foreclosures. According to testimony submitted to the House Financial Services Committee, Fannie Mae's chief executive, Daniel H. Mudd, is expected to say that his company is altering its loan products so that lenders can qualify more high-risk borrowers for refinancing. Under a new campaign called HomeStay, Fannie Mae would allow mortgage lenders it works with to refinance homes without first having to clear up borrowers' unpaid bills on their credit reports. The most popular government mortgage relief today is with the "Home Affordable Refinance" and the Emergency Homeowner Loan Program.

Freddie Mac has also introduced additional loan programs for home refinancing to help troubled homeowners. It plans to buy about $20 billion worth of mortgages that would primarily refinance the loans of people in danger of losing their homes. With a stagnant secondary market for subprime lending, FHA may be your best refinancing option, because credit scores are not considered. Subprime homeowners have the ability to keep their homes, preventing foreclosure with the FHA Secure refinance program. The FHA loans offer competitive interest rates and with the recent drop in mortgage rates it makes financial sense to lock into a loan for 30 years.

Bad Credit Mortgage Refinance
Mortgage Refinance Less Than Perfect Credit:
Fixed rates and fixed monthly payments.
Includes additional options for lower monthly payments or lower interest rates, and potential tax savings. This fixed rate second mortgage allows customers to know what the payment will be for the entire life of the mortgage.

Which mortgage refinance is the best for you?
What is the purpose of the refinancing your mortgage? This is important, because there is always costs and risks involved in a loan and you need to weight the benefits against the risks every time you go through the process of refinancing your home.

Call now to speak with a friendly loan officer that is excited to help you qualify for a refinance loan that saves you money every month.

Mortgage Refinance Less Than Perfect Credit: Fixed rates and fixed monthly payments.
Includes additional options for lower monthly payments or lower interest rates, and potential tax savings. This fixed rate second mortgage allows customers to know what the payment will be for the entire life of the mortgage.

Ask a loan officer which loan makes more sense for you - Getting a mortgage refinance for bad credit or taking out a 2nd mortgage that permits cash back. If you find bad credit mortgage lenders you may be one step closer to uncovering the best solutions for your needs and eligibilities.

Nationwide Mortgage Loans Loan Spotlight

Sub-Prime Second Mortgage
Many homeowners run into some snags when making their monthly payments. We offer non-conforming and sub-prime 2nd mortgages to help people with poor fico scores rebuild their credit and save money by consolidating their adjustable interest debts.

Also see options for No Income Verification, Bad Credit Refinancing and Bad Credit 2nd Mortgages.

Strong commitment to customer service. Many homeowners are finding comfort with the fixed rate second mortgages that usually have lower rates than the adjustable rates that Prime is set at. Bottom line, at this moment the rates are lower on the fixed rate second mortgage loans than they are for the home equity lines. So the time couldn't be better to lock into a low rate 2nd mortgage and get a fixed rate that allows you to become debt free quicker. Fixed rate second mortgages allow you to budget easier because your payment is the same every month. 

Which mortgage refinance is the best for you?
One important determining question to ask is...What is the purpose of the loan? There has to be a benefit for refinancing. Refinancing should help you to save money, get cash out or trim time from your mortgage. At the end of the day, you need to be able save money or have benefits like additional money back or a shorter term. The benefits for refinancing are essential because you do not want to spend time and money getting a new loan that doesn't offer you tangible value. Discuss you goals with one of our lenders and they will help guide you to a loan program that best suits your needs.

 

 

Podcast: Loan Talk "Refinancing with FHA Mortgage Loans"

Press Play To Hear Podcast

In a recent interview, a spokesman for Nationwide Mortgage discussed mortgage refinancing with PR Web. The opportunity of getting approved for a bad credit mortgage refinance with FHA was discussed but the main issue focused on was that higher FHA limits could benefit homeowners looking for affordable refinancing. The raised loan amounts offered the ability for more borrowers to qualify for a conforming or FHA mortgage that guaranteed a lower fixed interest rate for 15 or 30-year terms.


Refinance News

Mortgage Refinance News
Top Mortgage Refinance loans in 2012

HARP Refinance with Loan to Value Limits

Secret to Refinancing High Rate 2nd Mortgage Loans

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 the refinance loan will take to get a return on investments for the mortgage loan costs.

Best Time to Refinance
How to Refinance a Mortgage

When to Refinance a Home

ARM vs. Fixed Rate Calculator
Learn how fixed rate loans compare to adjustable rate mortgages.

 

Additional Refinancing Pages:
Refinancing after a Bankruptcy | Adjustable Rate Refinance | Mortgage Refinance Options | 100% Refinancing | Cash Out Refinancing |
Subprime Mortgage Refinancing | FHA Mortgage | Loan Refinance | Mortgage Refinance Guidelines | Money Mortgage Refinance | Mortgage Help | No Credit Check Home Loans | Streamline Refinance with FHA | FHA Refinancing | Harp Refinance | Refinance Options for Homeowners in the US | Low Credit Score Home Loans | Bad Credit FHA Mortgage
Other Popular Loan Products:
Combo Mortgage Loans | Fixed Rate Home Equity Loans | No Income Mortgage | Bad Credit Mortgages | Zero Down Home Loan | Second Chance Mortgage
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 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. BDNationwideMortgage.com has no affiliation with any government entity. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. Nationwide is affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright 2001-2012 and Beyond, Nationwide Mortgage Loans - BDnationwidemortgage.com is a website and cannot make loans. All rights reserved. Please note that loan companies may change approval requirements on a mortgage refinance for bad credit.