answersLogoWhite

0


Best Answer

There are lenders who specifically lend to borrowers with blemished credit but the homeowner will typically pay higher interest rates and fees. Borrowers should attempt to improve their credit before trying to refinance by lowering debt and clearing up any inaccuracies that may appear on their credit report.

User Avatar

Wiki User

โˆ™ 2013-03-06 00:03:30
This answer is:
User Avatar
Study guides

Who was the father of rationalism

What is discretionary spending within a budget

What provides a bank with collateral on a car loan

Which is one way that credit cards differ from debit cards

โžก๏ธ
See all cards
3.14
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
14 Reviews

Add your answer:

Earn +20 pts
Q: Will lenders allow someone to remortgage their home if the credit is bad?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How can one remortgage with a bad credit history?

There are a few credit companies that allow one to remortgage with a bad credit history. Some companies that offer this service are 'Clean Slate Mortgages', 'Norton Finance' and 'GE Money'.


What are some of the benefits of finding cheap remortgages?

Two of the many benefits of finding a cheap remortgage are that it is cheaper than using credit cards or taking out personal loans, and that it can allow you to get a better rate of interest.


Do I Need To Have An Excellent Credit To Qualify For A Business Loan?

Some lenders require excellent credit rating to qualify for a business loan, while others may allow less than 720. They will look at each your personal and business credit. Some online lenders have more intuitive application process where they mainly and examine your business records and your cash flow. Your credit may be less critical or no longer considered at all.


If you have a judgment on your credit report can you buy a house?

Generally no, but some lenders will allow a judgment to stay open on your credit report if you provide a repayment agreement and proof that payments have been made on time for 6-12 months.


Can a home be refinanced for more than the current loan amount?

Depending on your credit score you can refinance up to 100% of the appraised value of your home. In fact, there are some lenders who will allow you to borrow up to 125% of the value, if you have a credit score about 720.


Which prequalify loan allow you to apply online with very little credit or for someone who is self employed?

First Equity Mortgage is a prequalify loan allow you to apply online with very little credit or for someone who is self employeed. You can get more information at www.firstequitymortgage.net


Can a bank cancel a line of credit?

Absolutely. Nearly all revolving credit agreements allow the lender to reduce or terminate the available credit if there is a material change in the borrowers circumstances or finances, a changedrop in credit score, job loss, missed payments, value loss in the collateral (home equity credit lines) or a change in the lenders lending parameters.


What banks allow bad credit mortgage?

Unfortunately, fewer banks will lend to someone with bad credit. Some of the major banks that advertise that they will give a mortgage to someone with bad credit include Paramount Equity and FHA Mortgage.


Can you have two auto loans?

Yes.==new answer==A borrower with sufficient credit can borrow as many loans as the lenders will allow. If your current lender believes you have the ability to pay back two loans, he will grant you two (or more) loans. If the first lender doesn't want to help you, ask someone else.Currently, I have a loan on my house, a line of credit on the equity to make charges on, multiple credit cards with various credit limits to borrow on, and three car loans.


Which of the credit scores is used when purching a home Beacon Empirica or Fair Isaac?

Most lenders use the Middle score of all three. There are some lenders that allow you to use your highest score or average score. If you need any further assistance locating any information feel free to contact me.


Can a cosigner purchase a new vehicle even though he has co-signed?

Yes. A cosigner can purchase as many vehicles as a lender well allow. Of course it depends on your income and credit rating as to whether or not the lenders will extend you any more credit. The loan you cosigned for is on your credit and will be taken into consideration when the lender looks at your credit to determine your elligability for a car loan.


Where can someone apply for credit cards on the internet?

Credit card companies have credit card applications available on their websites. For instance, Capital One, American Express, Citi, and Bank of America all allow credit card applications online.

People also asked