The conventional solution for fixing bad credit is to avoid getting more credit. Experts will tell you to pay off your existing debt and don't add anymore. In reality, however, there are times when adding or changing your debt can actually help to improve your overall credit score.
One of the ways to do this is by refinancing your mortgage. By taking advantage of current low interest rates, you may be able to refinance your current mortgage at a lower rate and lower your monthly payment. This extra money can be used to make additional payments on current credit cards and other debt to get it paid off faster. In addition, if you are having to decide which bills to pay every month because of a lack of cash, a mortgage refinance might lower your payment enough so that all of your bills can get paid every month.
Now, if you think that getting a bad credit mortgage refinance is impossible, you haven't talked to Downs Financial. We are a direct lender of mortgage loans to people with all types of credit. In fact, a large majority of our customers have bad credit. We want to help people with credit problems, not leave them out in the cold.
For more information on how refinancing your existing mortgage might actually improve your credit, contact Downs Financial by completing the short registration form on our website. In 15 minutes, you will be contacted by a mortgage professional who can provide more information on the benefits of a mortgage refinance in your life.
