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Refinancing Home with poor credit?

I purchased a home 3 years ago on an adjustable rate. The rate is getting higher and my payment is over 200 more than it started. I really need to refinance my home but my credit is poor around 520 credit score. I also owe a large student loan. I am currently on an 80/20 loan with 12.5 on the 20 and 9 on the 80. This is the first home I have bought and did not understand the terms of the loan. Does anyone have any ideas or suggestions. I really do not want to sell the house because I am not sure that I can buy another…….

The 80 will not lock until 12.5


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6 Responses to "Refinancing Home with poor credit?"

  1. achef22 says:
    what has happened to you happened to me also with a large amount of dept, but think that everything is repairable even bad credit, i can help you as i do credit repair i dont charge a lot and have references my techniches are 100 %% legal . they just take time and patience it involves you writing your own letters to creditors , credit bureau, disputing charges and delinquent accounts doing it in a way they wont ignore you as time goes by you will see a gradual change its not over night but it works most people are not educated on how the credit game goes i do they got me once but never again good luck and help your self sleep better
  2. Anonymous says:
    Unfortunately, with a 520 credit score there’s not much you can do unless your house has appreciated drastically. With only three years of payments on a 100% LTV loan you probably don’t have much equity.

    You might have a chance to refinance with a lower interest rate FHA loan, depending on your credit history over the last twelve months and your current debt ratio.

  3. tenacious 1 says:
    You have had 3 YEARS to repair your credit and have not done so.I am an EXPERT on credit and credit repair also.Don’t blame your not being able to understand the loan and its terms as part of the problem.The REAL issue is you do NOT know how to MANAGE moneySounds like you will be foreclosed on sooner or layer which is probably for the best.Your credit score is so bad that a foreclosure is not going to do any worse damage.Rent for a few years and when you get your credit cleaned up and LEARNED how to manage money better and you are out of debt,then yo could buy a home again.Once a future creditor sees your past credit issues AND sees them resolved by you paying them off they will loan you the money to buy another home.And this advice DID NOT cost you a cent unlike people that would charge you to clean up your credit.Like I stated before I COULD do that for you as well but the thing that you need most now is FREE advice and put those funds that someone will charge you into paying your debts.
  4. Marty S says:
    I can help you refinance! Shoot me an email to, and let’s chat!


  5. stephen l says:
    I recommend Smart Choice Mortgage. 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 Smart Choice loan officer will contact you within 24 hours. Good luck.
  6. dino says:
    I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate.I came accross this company on NBC News Special Edition.Check it out here:

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