Posted on: 27th Apr, 2009 01:32 am
I have a 565 score. I dont have anything exept for my home loan on my credit. I had an intrest only loan due in augt. I thought it was a 30 fix. My wife delt with all the finances. She is nolonger around. My loan came due in aug. and now there forclosen on me because I cant get a loan.
My home is worth more than I owe. What can I do. I have a daughter that has great credit. Can someone please help there has to be something I can do. the bank will not exept my moeny anymore.
My home is worth more than I owe. What can I do. I have a daughter that has great credit. Can someone please help there has to be something I can do. the bank will not exept my moeny anymore.
Hi
A refinance seems to be the option for you. As your credit score of 560 is not very impressive, you can try and refinance it in your daughter's name as she has got great credit. You can talk with your current lender and see if they will refinance the loan in her name. If they are reluctant, you should look for other lenders. You can also seek a no-obligation free mortgage consultation with the lenders of this community. They will consider your financial situation, your daughter's credit score, DTI ratio etc and will be able to tell you whether you or your daughter can qualify for a refinance and also recommend the type of refinance program that will suit your needs.
A refinance seems to be the option for you. As your credit score of 560 is not very impressive, you can try and refinance it in your daughter's name as she has got great credit. You can talk with your current lender and see if they will refinance the loan in her name. If they are reluctant, you should look for other lenders. You can also seek a no-obligation free mortgage consultation with the lenders of this community. They will consider your financial situation, your daughter's credit score, DTI ratio etc and will be able to tell you whether you or your daughter can qualify for a refinance and also recommend the type of refinance program that will suit your needs.