Question:

Refinancing on manufactured homes on bad credit.

by Guest8121  |  earlier

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I need to refinance my manufactured home and we had very bad credit, My husband left me a power of attorney to refinance, Can I do the refinancing.

 Tags: Bad, credit, homes, manufactured, refinancing

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1 ANSWERS

  1. Tom Reeds

    Refinancing a home is a very good option especially if you want to reduce the payment and your monthly installment for better interest rates. If you have good credit score then refinancing has no limit. There are different lenders which work with the homeowners and they have low score as compared to what is desired or required. The FHA also provides refinancing options for the owners of the home who have FHA insured loans. Even if you have poor credit you can get refinancing with the help of little preparation and research.
    First you have to request the copy of the credit score. You can get the free copy of your credit score from the Federal Trade Commission that provides you with the free copy of credit report once a year.
    After that you can contact your current lender and get to know about the refinancing option you have. It will be easy if you contact the person who handles your current mortgage because they have to do less research on the history and your property. The lender might be willing for refinancing.
    You can also contact other lenders for the comparison of rates. There are some lenders which help in refinancing the people having low credit score. Some lenders can provide you with better rates and better rates will result in low payment from your side. You also have to do some research work regarding the refinancing through FHA.
     

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