Aug 9, 2009
Bad Credit Mortgage Refinance - Can You Lower Your Interest Rate?
Author: Colin Keller
Getting a bad credit mortgage refinance is something that was once considered very difficult but it has gotten much easier over the last few months. The Obama mortgage refinance plan has urged mortgage lenders to allow borrowers to have access to the historically low mortgage rates we are seeing. Before the plan was enacted, mortgage lenders were very strict on who could apply and get qualified for a refinance. Now it is the case that almost any home owner can apply for a refinance and they are likely to get a relatively low interest rate.
Now that mortgage lenders are being forced to allow common Americans apply and qualify for a low rate mortgage they are also increasing their advertising. You have probably seen ads all over the Internet and television for low interest mortgage rates. Most of the ads direct you to an 800 number in which you are urged to contact a representative. While you may not want to give the representative all of your financial information, it would be wise to contact them and see what interest rate you might be able to get.
Congratulations on taking the first step in getting a bad credit mortgage refinance. The next step is to get out there and actually contact some of the mortgage lenders that offer this service. You will never know what type of interest rate you could get until you actually contact some of these companies.