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Hello, I own my own home but am in credit card debut. We are short every month. My credit score has dropped. I want to refinance

by mgarrett778 from , California. Feb 22nd 2016 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

More info needed, but in general, if you are currently delinquent on any payments, it's near impossible to obtain financing. If you're not behind on the payments, then it's possible, but if you need to pay off credit cards to qualify, the lender will also make close the credit card accounts. For your scenario, there are too many unanswered questions.. How much is your home worth? What is your balance? What are your credit scores? How much do you earn per month? What is your total monthly debt payments? etc, etc, etc.. without knowing this info, it's impossible to advise you properly.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Feb 22nd 2016
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

Lots more info needed to help you, and credit score will make a difference in your options. As stated already, if you're missing payments it will be very difficult to get a mortgage. You might contact a Consumer Credit Counseling Service (CCCS): Nonprofit (charitable) agencies that work with people and families to resolve credit problems, and they typically offer debt management programs. These are generally NOT the agencies that advertise on TV and radio. To find a CCCS agency, search by zip code at www.nfcc.org

Feb 22nd 2016
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Justin Murray (JustinMurray)
#102 ranked lender in Illinois - 172 contributions

We need to look that whole picture as soon as possible before the credit scores drop any further. I have access to equity loans that do not require a credit score, but we would need to look at the overall credit to make a decision. Feel free to contact me, thank you. Justin Murray / JMurray@WintrustMortgage.com / (312) 256-4065

Feb 22nd 2016
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Linda Thompson (LoansbyLinda)
#827 ranked lender in California - 32 contributions

There is much more info needed. Give me a call. I am in California and can work with you. 510 332 3282 Linda

Feb 22nd 2016
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 591 contributions

It sounds like a cash out refinance loan can help you out. With a cash out refinance loan we can use the equity in your home and pay off credit cards, car loans, student loan etc. I'm a mortgage lender in the state of California (BayArea) I can help you move forward with this loan. I can be reached at 510-704-3445I hope this helps, Jesse

Feb 23rd 2016
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Larry Gray (lgray_312_247)
#563 ranked lender in California - 1,127 contributions

I think perhaps you are the prospective loan consumer seeking a particularly mortgage loan consultant's phone number who seeks advice to get on the best and quickest path to qualifying? Some late payments can be forgiven with us if minimum credit score is 620, otherwise if lower you generally need to have 0 late payments in the past 12 months. I have worked with borrowers in improving credit scores as rapidly as possible over the years and so if you need another perspective/comparison...you might always get at least 3...give me a call! http://www.zillow.com/profile/lag343/ http://www.graylending.com

Feb 24th 2016
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