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Collateral loan with low credit scores

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07ladyleo31 Joined: 07 May 2010 Posts: 1 1.00 Dollars($)	Posted: Fri May 07, 2010 4:58 pm    Post subject: Collateral loan with low credit scores Like 0 Dislike 0 I purchased 1994 Fairmont Mobile home in June of 2009. My mother took out two seperate personal loans with two titles.I would like to get out from under these loans also,because I am paying interest on both. Making my payments at 273.00 a month.I do have the title for the mobilehome. What I am interested in doing is to pay the two loans off and combine my car loan into one payment. I have a 97 Honda Civic. I purchased it thru a local dealer that does that buy here,pay here type deal. that payment is 60.00 a week. I have been at my job 1 yr. June 1. My income is 8.50 an hr. It is a secure job, I had worked for the company before. Is there help for me? I am also a single parent household.
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Fri May 07, 2010 10:02 pm    Post subject: Like 0 Dislike 0 Hi ladyleo, I don't think you would be able to combine your car loan as well as your home mortgages into one. However, you can definitely refinance the two home loans into one. You will have to contact your current lender and apply for a refinance. However, in order to get a refinance, you should have a good credit score. In order to get a FHA loan, you should have a score of 620 and to get a conventional refinance, you should have a score of 720. Thanks

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