I'm trying to refinance to pay off about $35,000 credit card debt that seems to be just inflating with late fees and interst around 23% - old cards back from the 80's high interest days. Husband self employed and didn'dt take much salary, I have regular job and decent pay. Owe $96,000 on first mortgage, 1 late payment last year. House worth $250,000. How come I can't get at my equity???? Having difficulty after bad winter paying the minimums they want. Did some credit repair in february, and with some more lates fico score went from lendingtree combined 3 bureau of 520 down under 500!!!! Tried to refi with current mortgage co, no way - lates and husband's no income. Tried 2 other places, no callbacks. Tried last place for good, bad and ugly. This guy's telling me he's not sure he can help. What am i doing wrong? The report he faxed me shows late payments on credit cards (doesn't seem terrible) but that's why i want to refinance! Any help please
I had a hard time refinancing my second mortgage (bk in 98, I'm self employed, DH's credit before we met was awful) and I was 650, hubby 615. If your scores are not over 600 you are going to have an awfully hard time finding anyone to offer you credit. I don't see it happening. Maybe someone else knows more forgiving lenders? Good luck!
if your late's are recent, that is really going to hurt you.... try emailing fla-tan or willygart, who post on this board... both of them are knowledgable and may be able to help you.
