Need help refinancing

I am in a situation where I have an adjustable rate and I need to refinance before my note increases tremedously. My problem is that i have bad credit and I dont know the first steps to repairing it. Alot of the things on my credit report is old but what is hurting me is that I am a slow pay. I am a single woman on my own and some times I have to rob peter to pay Paul. I am just trying to find some help in this madness, is there anyone out there that can help

It takes time to fix credit but it can be done, I dont believe all these companys that claim they can fix you over night. I would be glad to offer some advice but would need some additional specifics. What does your cuurent budget look like? List all your balances and their minimum payments and lets see what we do to get you on the right track. Maybe if a second pair of eyes or in this case an entire forum looks at they can recomend a way to help get your debt down faster. Look forward to your reply and good luck.

Depending on your location there may be a Foreclosure Prevention Center. These are nonprofit organizations that receive HUD funding for this purpose. They’ll be able to help you perhaps refinance.

http://www.hud.gov/

i wish i could help our adjustable also goes up and we have good credit but our property will not apraise for enough what to do? Can you go to the lender and apply for a FIXED rate loan? Tell them you don’t like the way adjustable is screwing about.

Certainly, but that is going to open a can of worms.

  1. Are there any pre-paymnet penalties on your current.
  2. They are going to run your credit.
  3. Is you house value going to support a re-finance.

You will probbaly get hit with closing costs.

But if oyu get a good rate in the long run may be worth it, just make sure you come up with a good paymnet structure to pay off everything early and make it worth your while.

Just my thoughts.

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