When you have credit defaults or some other form of loan or credit impairement there are still available options to refinance. Bad Credit Refinance and the general refinancing processes are very similar, with only a few detailed but significant differences.
- The Story - There is alot of weight put on what caused the issues and if the issues are now past. Would the Bad Credit Refinance rectify the issues if the loan was placed. For example, if the issues were caused through an illness the lender will want to see you are now well again. When you still involved in the issue it can be difficult to see how the issues unfolded.
- LVR - the ratio of lend against the property value plays a large part in having the lender feel secure in providing funds for a Bad Credit Refinance.
- Income - Each lender views income in different ways. Some willa ccept short term employment, some will acceptunstable incomes. Choosing the right lender is important for a rapid Bad Credit Refinance.
Loan Saver Network will look at your individual circumstance to identify an appropriate course of action to effect a Bad Credit Refinance. See Bad Credit Mortgage for information on the types of Loans available, otherwise Apply for a Loan below.