How Can I Refinance With Bad Credit to Stop Foreclosure?
With one out of five homeowners in the United States in foreclosure more and more of them are asking, how can I refinance with bad credit to stop foreclosure? The answer is a mortgage principal reduction. The program is from a group of private investors, they call it their HomeKeeperUS program. They will negotiate with your current lender to purchase your loan at a discount, pay it off and issue you a new 30 year mortgage at 90% of today’s market value. The best part is good credit or bad credit it doesn’t matter, as long as you have a job and less than 50% debt to income ratio after the refinance you can qualify.
Not a Loan Modification
Don’t mistake this for a loan modification, it’s not, your current loan gets paid in full and recorded as satisfied, you are issued a new 30 year loan, the interest rate will be prime plus 3% (currently 6.25%) for credit scores over 700 and prime plus 4% (currently 7.25%) for credit scores of 699 or less. So you can refinance with bad credit to stop foreclosure. The mortgage payment for many homeowners works out to be less than their current payment; this is because most people facing foreclosure owe more than their house is worth in today’s Real Estate market.
A Second Chance for the American Dream
With $1.5 billion dollars from private investors allocated for the Principal Reduction Program, HomeKeeperUS has pledged to help homeowners across America refinance even with bad credit to stop foreclosure. They have representatives that will answer your questions about the program and help you submit your paperwork. Every File is carefully reviewed and underwritten in order to properly qualify every homeowner who applies for the program, giving them a second chance for the American Dream.
*Affects pricing. With the No Closing Cost
Option, borrowers finance the closing costs instead of paying for them at
closing. Borrowers who pay closing costs at closing may qualify for a lower
interest rate. Some upfront fees (ex. credit report and appraisal) may apply
and may be credited at closing.
*Refinancing or taking out a home equity loan or line of credit may increase
the total number of monthly payments and the total amount paid when compared to
your current situation.
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