Archive for the 'Mortgage Refinance' Category

Subprime's downfall makes things harder for bad credit mortgage borrowers

Published by Gina Pogol on February 09, 2011 in Mortgage Refinance . 0 Comments

Experts in the mortgage industry say that the exit of most subprime lenders from the business will make it harder for people with bad credit to find mortgages. Well, duh. Bad credit or subprime mortgages are usually defined as those with rates at three or more percent higher than those of prime mortgages. Prime loans, including FHA ...

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Medical billing errors costing homeowners refinancing opportunities

Published by Gina Pogol on December 10, 2010 in Mortgage Refinance . 0 Comments

When does an $11 charge cost $4,500? When it's an old medical bill, that's when. Mortgage brokers and lenders are reporting that these tiny amounts, often bills the homeowner is completely unaware of, are costing people the chance of refinancing to a lower mortgage rate or are adding thousands to the fees. Here's a typical case: ...

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Big fight over FHA Short Refi program may help homeowners

Published by Gina Pogol on December 10, 2010 in Mortgage Refinance . 0 Comments

The FHA Short Refi program, which has been a dismal failure because not a single lender including Fannie Mae or Freddie Mac has signed on (there have been less than 40 applications nationwide for the program so far even though the Administration expected over a million to qualify for it). The program was designed to allow ...

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If you thought things were tough now...

Published by Gina Pogol on November 21, 2010 in Mortgage Refinance . 1 Comments

You have probably heard how difficult it is to get a mortgage approved if you need to refinance a jumbo mortgage -- pay stubs, tax returns, bank statements, divorce decrees, 8th grade report cards, DNA samples..... That's because jumbo mortgages are not bought and sold by Fannie Mae and Freddie Mac, and so they are ...

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Bad credit refinance? Beware of equity strippers

Published by Gina Pogol on November 21, 2010 in Mortgage Refinance . 0 Comments

With sub-prime financing so hard to find, hard money lenders are stepping into the gap created by their absence. And if you have plenty of home equity, these folks may be willing to refinance you and significantly reduce your payments. But they may exact a high price in terms of your home equity. How do ...

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Shopping for a refinance mortgage will change soon

Published by Gina Pogol on November 19, 2010 in Mortgage Refinance . 0 Comments

When shopping for a refinance mortgage, you are told to do a couple of things. First, get quotes from several lenders. Get your Good Faith Estimates and compare fees line by line. Then get back to the lenders and negotiate these fees -- line by line -- and go with the one who comes up ...

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Are mortgage brokers a dying breed? Let's hope not

Published by Gina Pogol on September 21, 2010 in Mortgage Refinance . 0 Comments

If you have bad credit and need a refinance or want a new home loan, your best friend may be a mortgage broker. Mortgage brokers have access to a wider variety of mortgage programs and are better able to help a less than perfect borrower find the right loan. While working for a mortgage broker, ...

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About Mortgage Credit Problems

Specializing in Bad Credit Mortgages… Because Life Doesn’t Always Turn Out Like You Planned. A sick child, a few late bills, or an unexpected expense can easily get you off track and your credit may suffer, but we don't think you should miss out on the opportunities available to everyone else.

Gina Pogol

Gina Pogol

About the Author:

Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.

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Recent Comments

  • Capsiplex: Interesting idea, where can I learn more about this?
  • Plavuse: Ues, but not everthing black and white, something is gray :) Miranda
  • Robin: If you have a bad credit history still the loan market place is full of lenders who are ever willing to offer you a...
  • Laura: similar situation to Crystal above. Except, our FHA mortage was included in BK, but we have kept the payments up and...
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