Posted on: 20th Feb, 2009 07:46 pm
can we still get a mortgage company to refinance our loan with late payments and low credit score?...we bought our home in june 2006 then we fell behind in 2007 due to job loss and such.. our current mortgage comany did not want to work with us till like 2 weeks before the home was suppose to be sold at sheriff sale and now are credit is screwed and they have our payment higher than it was before and we are wanting a lower payment.. can we get help anywhere else...
Welcome benjaminburkhead,
Lenders will not refinance the property if you have a low credit score or if you are late in your payments. You can contact your lender for a loan modification. This will help you in saving your property but there are chances that the lender will add the past due payments which may increase your monthly payments.
Lenders will not refinance the property if you have a low credit score or if you are late in your payments. You can contact your lender for a loan modification. This will help you in saving your property but there are chances that the lender will add the past due payments which may increase your monthly payments.