LOAN REFINANCE
In some instances, we may be able to arrange new financing, but this will depend on your income, credit score, the value of your home, the amount of equity and your current financial position. Although it might be difficult to secure new financing with a default on your existing mortgage, it is not impossible.
Do you think you can’t get refinanced because of your bad credit?
Most people don’t realize that even if their credit is bad they can still get refinanced. We look at other things like Equity, the reason your credit is bad, how your current financial situation has changed and your last 12 months of credit history. These criteria can out weigh any credit score. The overall credit score sometimes does not give a true picture of your financial stability and it needs to be amended. We can also sometimes simply tell you ways to improve your credit by disputing inaccurate items in your report.
When is the time to refinance?
You need to look seriously at refinancing when you need to lower your payment, when you need some cash, when you are in Foreclosure and have no other options and if you have an Adjustable Rate Mortgage and it is nearing maturity. These scenarios are perfect examples of when and why to refinance.
Contact a Miami Foreclosure Defense Lawyer at Dominguez & Associates, P.A.
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