Hi,

I am looking to refinance my existing mortgage but I have really bad credit (less than 500) --does anyone know of any reputable mortgage lenders in ny that refinance w/ such low scores.

Any help would be appreciated.

Thanks, Mia

My current rate is already 8.9%---ouch

Many will. Just look for a lender with manual underwriting. The credit score will not matter.

Mia, can you tell us your current mortgage rate? You will not get those low percentage loans you see in the news paper.

MiaJolie, I have been in the mortgage business for 20 yrs. If you're currently at 8.9% I doubt if you could do better with only a 500 credit score. Your best bet is to work on increasing your credit score first before applying for a loan. If you can increase it to a 660 or better then many more doors will open for you. You can log onto experian and/or equifax by doing a simple search. I believe for about $15 a month you can monitor your credit ratings with tips and real time scenarios if you paid your bills a certain way it will show you how much your scores will increase by. Good Luck. Don't get suckered in to the Ads in applying for a loan.

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miajolie disagrees: Duh!! Thank you for stating the obvious

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I think you meant to say "thank you" for the professional advice. If all you want to hear is what you want to hear, you should not ask for others opinions.

A rude and disrespectful way to enter the AMHD boards.