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Wednesday, February 25, 2009

Getting A Mortgage Refinance With Bad Credit

By Mijnadviseur

Having bad credit can be a real burden in getting mortgages and loans. You pay higher interest rates and higher fees and you have fewer options to choose from when looking at a mortgage or a loan.

Despite the limited options, you can get a mortgage refinance with bad credit. It just takes a little more preparation than it would take with good credit. One of the first things you should think about is consulting with a mortgage broker. Preferably a mortgage broker that specializes in bad credit cases.

You're entitled to a free copy of your credit report every year. There is a lot of informatiobn on the Internet and other places about improving your credit score. Don't think that just because something shows up on your credit report, you can't change anything about it. If someone has made a mistake, contact the organisation or company and dispute the credit record. This may result in an improved credit score.

Remember, improving your credit score will open more doors for you when doing a refinance or if you want to get a new mortgage.

If you want to do a mortgage refinance with bad credit, be sure to seek out an expert that can help you. If you find a good mortgage advisor specializing in bad credit, be honest and straightforward. If you fail to supply all the relevant information, you make it very difficult for a professional to help you. You may even get bad advice, because of some crucial piece of information you haven't supplied.

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