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How can I refinance my mortgage with bad credit?
By Kathryn Pomroy article
If you have poor credit but want to take advantage of the current low interest rates and refinance your mortgage, make sure first it makes good financial sense, and don’t forget to factor in closing costs and other fees. (iStock)
Bad credit happens. This may be especially true for the thousands of people out of work due to the coronavirus pandemic. Even so, you can refinance your mortgage with bad credit. It may be more challenging, but it’s possible.
The coronavirus pushed interest rates to record lows. Such low rates are the driving force behind the surge in mortgage refinances up 89.54% from last quarter and up 297.3% from just one year ago, according to US Mortgage Originations.