2007-11-26 01:10:23 · 2 answers · asked by huskerrickinfl 2 in Business & Finance ➔ Credit
What have you done since you got your loan to FIX the dings on your credit score??? Some lenders may take into consideration the fact you've paid off those old debts and it just hasn't come off your score yet... Obviously, realizing you would need to refi, you've made sure NONE of your payments on anything were late, have made sure you haven't taken out new credit cards, are living inside your means, and have a savings account to show them you CAN make their payments when you refi... Good luck!
2007-11-26 01:23:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
To be blunt, if you have not worked on fixing your credit and if you made the mistake of financing 100% then unfortunately no. Unless you have saved enough to come up with a new downpayment in order to finance because in todays market you are out of equity. Harsh but that is happening to millions of people at the present time. With an ARM of 10.75 would venture to guess that this was 100% with not so good credit as that is not even a teaser rate. That is a beyond subprime rate for an ARM.. You basically have two options, get a second job and try to hold on to the home, or lose it. As stated hate to sound so cold, but the facts are just that.
2007-11-26 10:18:29 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋