Does anyone know of a good mortgage company who will refinance a home with credit scores in the 560 range?

We own a home worth @ $200,000 and only owe $80,000. We need to refinance to pay off some tax debt. Can anyone reccomend a good reliable company?





Thanks!Does anyone know of a good mortgage company who will refinance a home with credit scores in the 560 range?
You never know until you talk with a mortgage professional who can get your full financial situation, but due to your credit score, your options may be limited. Part of the reason is that regulations for less than perfect credit loans have seriously tightened in just the past few months. A mortgage that you would have qualified for in April may not be available today.





So, If you can wait, then I suggest trying to improve your credit score. Here are a few ways you can do that:





1. Pay your bills on time. Even if you've had delinquencies in the past, over time, they will count less if your recent history shows timely payments.





2. Keep your credit card balances low. The higher your outstanding debt, the lower your score will go. Pay down high credit card balances, starting with the highest interest rate first.





3. Check your report for inaccuracies. You may have errors on your report that can easily be cleared up. You can request a free copy of your credit report every 12 months.





4. Pay off debt rather than move it around. Consolidating your debt onto fewer cards will not improve your score because you'll still owe the same amount. It is better to work towards paying it off.





5. Have credit cards, but manage them responsibly. Having credit cards that are paid on time is better than having no credit cards. It shows that you can soundly manage your debt.





6. Don't open multiple accounts too quickly, especially if you have a short credit history. This may look risky because you're taking on a lot of possible debt. It also shortens the average age of your credit history.





7. Don't close an account to remove it from your credit record. Accounts show up on your credit report for seven years whether they're open or closed. Closing accounts can actually hurt your credit score if you're not paying down debt at the same time.





8. Don't shop for a loan from different lenders over a long period of time. Try to keep it to within 30 days or less. Credit bureaus disregard inquiries for your credit report made within 30 days of each other and consider requests made within a 14 day period as a single request.





9. Don't open new credit card accounts you don't actually need. This might backfire and lower your score.





10. Contact your creditors or consult a legitimate credit counselor if you're having financial difficulties.





Good luck and feel free to contact me through my profile if you need more information.Does anyone know of a good mortgage company who will refinance a home with credit scores in the 560 range?
try going to eloans.com they are able to help people with all sorts of credit, or at least that's what their commercial states.





www.elaons.com
Most important, make sure you don't let too many people pull your credit as this will greatly hinder your chances of getting the refinance done.





You should have no problem getting this loan done.





If you need further assistance and if you are in a state that i'm licensed I would love to give you some options on this.
I recommend First National Banc Corp. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a First National loan officer will contact you within 24 hours. Good luck.
You would probably be able to get a conventional loan (excellent rates) or an FHA loan (excellent rates also for credit challenged people). If you can find a mortgage company in your area see if you can first go Conventional, if not then see if they have an FHA license to get you a government loan. The rates are pretty much the same. I don't know a company for the state that you are in though.
Most of the above answers has been post for marketing purpose. If you really serious about your question, Try





http://www.mortgagerefinancingatlowrate.鈥?/a>
Deme is on the right track. Fannie Mae or FHA should actually be pretty easy for you to qualify for, even with your scores that low. Your loan-to-value is so low, there's a good chance you'll get their best rates.





I don't know how much you need to cash out, but find someone who will run you through Fannie Mae's underwriting system. You'll get a 30-year fixed rate loan, instead of a subprime 2 year ARM. And you'll get rates ranging from 6.5-7.5%, depending on the approval level Fannie Mae issues (they do some A-minus pricing for lower scores sometimes, but they look at the total picture - credit, assets, loan to value, debt-to-income).





With a decent debt to income ratio (ideally under 40% total), some assets (find a way to have 2 months of your future mortgage payment at minimum as cash reserves), and a loan to value under 70% (under $140K for you), you should get a great deal.





Shop a few lenders to find out for sure. Refuse anyone who tries to offer you a subprime 2 or 3 year fixed ARM. If that's what they offer you, they don't know how to do their job properly.
The best answer you are going to get here is for me to tell not to ask it.





There are way to many con artists and scammers on here looking to take advantage of people with credit problems. Just sit down with a lender you know and talk it over.