How Do You Refinance With Bad Credit To Stop Foreclosure?
It is difficult for anyone to refinance to stop foreclosure. It is going to be even more difficult to refinance when you have bad credit and want to stop foreclosure. A bit of perseverance and determination can help along with the following options. Contact the lender who holds your current mortgage. Attempt to negotiate new terms for your mortgage. Ask for forbearance or a temporary stay for your payments. Some lenders will allow this if you can show that you will be able to pay later. Ask if the loan can undergo modification to create smaller, more affordable monthly payments. If you can show the lender that you have a source of income sufficient enough to meet the payments, you might be able to persuade him to accommodate you. You might have bad credit, but if you also have an income, there is still hope that you can stop foreclosure. Borrow enough money to make at least one mortgage payment and then make the payment. This provides your lender with proof that you are serious about p
