I just bought my house 3 months ago i have bad credit and am needing a second mortgage is that possible?
- it depends on what your idea of "bad" credit is, and also how much equity you have in the home. Some lenders do not have "seasoning" on how long you have to own the home before you can get a second mortgage but some do. Have you done any improvements substantial that would add value to the house above what you purchased it for? That may make a difference also. Depending on the situation, another option to go may be to do a government loan, or FHA. Unless you have a hefty prepay penalty which you may depending on your state and lender you may be able to refi the entire amount into an FHA loan and get a little more cash out if it's for improvements. If you need any more info let me know, and good luck!
- The question is do you have equity in your house. If you have substantial equity on the property you should still be able to get a loan
- How bad is bad? How soon do you need it done? Do you have an equity in your home to take money out?
- Yes. index - go.com / bad - credit - finance - mortgage. asp
Knowledge Base
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (bad credit mortgage loans)
Own small business Need debt consolidation loan Have bad credit at present where do I go?
you likely cannot get another refinance without getting robbed of any remaining. i goto some good info there : index - go.com / bad - credit - finance - mortgage. asp. i goto some good info there : index - go.com / bad - credit - finance - mortgage. asp. (bad credit second mortgage)
My soon to be ex - husband wants to keep both our names on the house and mortgage. Bad idea?
i am wiling to give him the house because i am getting other ets. he can not refinance because his credit is bad and other reasons. i do not want to keep my name on the loan and home in case something happens. he told me i could monitor his (california bad credit mortgage)
Knowledge Base: Bad Credit Mortgage
What types of mortgage loans are available for people with bad credit?
i recently lost my job, and got behind on payments. this has really impacted my credit. i am looking to buy a house, and could afford a down payment, but i need some type of mortgage company that works with people with bad credit. what types of companies are out (bad credit second mortgage)
Is it impossible to find a mortgage with severely bad credit?
my husband and i are looking to purchase our first home, however we both have very poor credit scores and yes i know this is bad news but we have found a home of which we would like to purchase. the home loan would be for about $120, 000, i (bad credit second mortgage)
Is there any way to get a mortgage loan with bad credit?
hi there, i was wondering if there is any way at all to obtain a mortgage loan with bad credit, my home is sold and i am looking at a condo, i have half of the money for the condo but will need another half through a mortgage loan. is (bad credit second mortgage)
bad credit loans that doesn't need 3% down and not a payday loan or mortgage loan?
wishful thinking. there are a number of companies that can help out with bad credit loans. loan - seeker.info / bad - credit - loans / has a list of sites that provide them. what are you trying to finance? a car? credit card? school? the choices for loans for (california bad credit mortgage)
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (bad credit mortgage loans)
Knowledge Base: Bad Credit Second Mortgage
He has good credit, good paying job I have bad credit, low paying job can we get a mortgage loan together?
we are engaged and would like to blend our families and lives. he owns a home and uses it as rental income. he has been preapproved for a second mortgage loan at 220k. he has good credit history, score of 750 and makes 70k. the house's we like are about (bad credit second mortgage)
2nd mortgage a bad idea?
my boyfriend's grandfather 75 years old has decided to get a second mortgage on his house. the house and property are worth about $700, 000. he said he's getting $35, 000. he has really bad credit. he always buys crap off the infomercials and then never pays for it. he (bad credit second mortgage)
Why are second mortgages considered "bad"?
we got one to pay off credit card debt. the interest rate is way, way lower than the credit cards, and the term of the 2nd mortgage is 10 years. what's wrong with that? i wanted to add, i feel the loan officer was not forthright in explaining that this (bad credit second mortgage)
where can i get a second mortgage with bad credit?I just bought home 3 monthes ago. ?
depends on how much equity is in your place since you purchase it 3 months ago. obviously if you just bought it 3 months ago, and you already need to get a 2nd mortgage, you probably will not get approved, especially when you have bad credit to begin with, because (bad credit second mortgage)
where can i take out a second mortgage? with bad credit?
we have a lot of debt and would like to take out a secound mortgage. where could i look with somewhat bad creidt? i know do not say get ur spending under control becouse we have and have cut them all up but still need to pay off. so where (bad credit second mortgage)
