At Refinance.com you will find all the information and help you need concerning mortgage refinance

Refinance.com focuses on Florida mortgage refinancing and California mortgage refinancing

Bad Credit mortage refinance

Refinance understands that credit reports of clients can be full of errors. They might also have a history of bankruptcy. But with Refinance it still is possible to get a home loan or refinance, you can even get cash out of your current home. It does not matter what the issues are as long as you meet the loan guidelines for getting approved.

Usually borrowers gets divided in 4 Categories:

A-minus credit, B credit, C credit and D credit. They determine if your loan is possible by these factors.

So what is all these factors and what do they mean?

A-minus credit is for people who have acceptable blemishes within the last two years. that includes:

Charge-offs, collectoin accounts, minor amounts less than $500, medical bills, hospitalization and clinic visits are not taken into consideration and means that you can qualify.

B credit is for people who have blemishes in the last 18 months. This includes:

If the case of bad credit is isolated a 90 days late payment is allowed. Charge offs which are isolated.

But in this case outstanding accounts less than four years old must be paid

C credit is for people who have acceptable blemishes within the last 12 months

In this case no more than six 30 day late payments, 3 sixty day late paments or two 90 day late payments or allowed on revolving or installment credit.

Then the last one is the D credit

This type of borrower will show sporadic disregard for timely payment or credit standing categories.

They include: Open collections accounts, charge-offs.

These judgements must be paid through loan proceeds.

Well that is for the bad credit part.

Refinance.com also offers the following:

• ▪ Bad Credit mortage refinance
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