[miajolie]

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

[alkalineangel]

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

[ballengerb1]

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

[FaceOff]

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.

[kp2171]

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

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.