Refinance auto loan with bad credit: 2013

Are You Considering A 72 Month Auto Loan? - You Should Read This First!

Many people are do not know that you can now get 72 month auto loans. Is that a good idea?

72 months. 6 years. It may seem like a long time, but for some people that are wanting a car and are trying to keep their budget in line this may work for them. A 6 year loan will typically have a higher rate than a 5 year, but a 3 year has a lower rate than a 5. Yet it seems that few actually take 3 year loans. Why is that? It comes down to the amount of affordability that surrounds the monthly payments. A 5 years loan will cost loss every month in payments. And so in getting the 5 year loan that car owner convinces themselves that they had afford a more expensive car.

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Should I consider 72 month auto loans?

Are You Considering A 72 Month Auto Loan? - You Should Read This First!

With the vehicle, it hinges on what what you are considering doing with it. As in how long you plan on keeping it. Many people trade in their car after 3 years so a 72 month auto loan would not work for them and it would be costly to trade and well as being expensive as the loan would need to be refinanced. Then again, if you are the type of person that wants to keep the vehicles for 5 or more years then a 6 years loan would be a more affordable consideration.

What are the downfalls?

The longer the loan is, then the longer it takes to pay it off and you run into the risk of owing more on the car than what it is worth. You also will generally pay a higher interest rate that 60 months. However, if you do intend to keep your vehicle for more than 6 years, and the 0 a month makes that big of a difference to your monthly budget, then you can take the 72 month option.

And while you may pay less money each month, more of each payment consists of interest rather than the principal. So while you're paying more interest each month, you are also paying back less of the loan principal. Because of this you run the chance that your loan will become "upside down" -- you could end up owing more on the vehicle than it's worth.

You can however contribute more than the minimum monthly amount that is due to reduce the finance charges, as your situation changes - it always does when we are talking about such a long period of time. Doing this would mean that you are not restricted to the full 72 months in payments.

Before considering whether to apply for 72 month auto loans be sure to read the fine print, especially about the fees and charges. You will need to weigh up all the options before you decide if this is the best route for you.

Are You Considering A 72 Month Auto Loan? - You Should Read This First!

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Guaranteed Approval Credit Cards for Bad Credit

You can still get guaranteed approval credit cards for bad credit even though you have poor credit history. Many credit card companies provide credit cards with guaranteed approval for bad credit to help you improve your credit rating and at the same time enjoy the benefits of the credit cards. The limit for credit cards for bad credit varies from company to company. It is generally in the range between ,000 and ,000.

Application for bad credit credit cards usually does not require credit check. You are approved regardless of income or credit history. Credit cards for bad credit, however, generally have higher annual interest rates than regular credit cards. This is obviously something you should consider when selecting the best credit card for bad credit. Compare some variables such as enrolment fee, APR, credit limit, and any benefits: emergency cash transfer, extended warranty protection, etc.

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Bad Credit Credit Cards Improve Credit Rating

Guaranteed Approval Credit Cards for Bad Credit

Companies providing credit cards for people with bad credit provide monthly reports to major credit bureaus, the institutions that maintain credit history of millions of people around the country. Credit card companies usually have an integrated system that connects to these bureaus to verify the credit rating of people applying for bad credit credit cards.

By making regular payment to your bad credit credit card you are automatically improving your credit history. Try to make at least minimum amount to your credit card before the due date. After some time you will become eligible for normal credit cards and receive the benefits of good credit standing.

Credit Card Application for Bad Credit

Before applying for bad credit credit card you should be clear on the purpose of getting it. Have you already gone over-limit on your current credit cards and need a new one? Or are you applying for bad credit credit card to fix your current credit score? You should also compare various offers from credit card companies to ensure that you get the best one you need. Evaluate every item in the offer and read all terms and conditions. Often some credit cards for bad credit have hidden costs and can become very expensive in the future.

When you are ready you can fill in an application for bad credit credit card. Online application usually takes a few minutes only and you will receive an answer for your credit card request within hours of submitting.

Guaranteed Approval Credit Cards for Bad Credit

Applying for credit card for bad credit is very easy. Click here for guaranteed approval credit cards for bad credit [http://www.creditcardlounge.com/credit-card-for-bad-credit.html]. Read and compare bad credit credit card special offers [http://www.creditcardlounge.com/bad-credit-card-select.html] from various companies. Need a quick cash for emergency? Check out instant approval cash advance [http://www.ez-loan.biz/onehour-instant-cash-advance.html] and get approved within hours.

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Online car loan shopping practically guarantees that you are getting the best rates. Your location is no longer a barrier to finding the best auto loan rate. However, you want to take advantage of the financing options available. While searching for an auto loan, research financing companies, negotiate terms, and increase your down payment to get low rates.

Study Financing Companies

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A sure fire way to find the best car loan rate is to study financing companies. Only by requesting quotes and comparing the fine print can you truly know you are getting the lowest rate.

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Fortunately, online auto loan brokers offer convenient ways to compare lenders. With some sites you can make side by side comparisons, while other sites will email you multiple financing offers. Auto loan brokers work hard to attract customers by negotiating lower rates with lenders, so you often will find better deals through their sites that through a dealership.

To ensure that you are getting accurate quotes, fill out the form as completely as possible. A slight difference in income or employment dates can reduce your interest rate.

Negotiate Terms

To find the best auto loan for your financial situation, you will want to balance the interest rates and length of your loan. Shorter loans offer lower rates, but with a higher monthly payment. Take a look at your monthly budget to see what type of auto loan would work best for your situation.

Increase Your Down Payment

While zero down or a slight down payment are options for car buyers, a large down payment will save you money. By putting down 20% or more, you will qualify for a lower interest rate, even if you have adverse credit. You will also save money by not paying interest on that portion of the vehicle's price.

Demand A Better Deal

By getting pre-qualified for a car loan, you can also reduce the cost of your vehicle by demanding a better deal from your dealership. As a pre-qualified buyer, salespeople see you as a cash buyer, and they want your money. You can negotiate for rebates, higher trade-in value of your vehicle, and extra features.

To view our list of recommended auto finance companies online, please visit
this page: Recommended
Auto Loan Companies Online.

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

Refinance Car Loan - Auto Refinancing Tips

Qualifying for an auto loan refinance is easy - even with less than
perfect credit. Refinancing an auto loan is beneficial for several
reasons. Furthermore, finding a lender to manage the refinancing is easy.
However, before applying for a refinance, you must meet certain
requirements.

Benefits of Refinancing Car Loan

Refinance

Car buyers refinance automobile loans for various reasons. Primarily,
these individuals are hoping to save money on their monthly payments. By
refinancing your current auto loan, you obtain a better rate and can
either extend or reduce your loan term.

Refinance Car Loan - Auto Refinancing Tips

If your credit has improved since the initial car purchase, a refinance
will be in your best interest. Good credit justifies prime auto loan
rates. A huge rate reduction on your auto loan will significantly lower
your monthly payment.

Car Loan Refinancing Requirements

Unfortunately, you must meet certain requirements to refinance an auto
loan. For starters, the value of the vehicle must exceed the amount
owed. An upside-down auto loan consists of owing more than a car's worth.
In this case, you cannot refinance the car loan.

If possible, try and reduce the amount owed on the car, and then
refinance. This will involve increasing your monthly payments. Furthermore,
refinancing options only apply to vehicles less than five years old.
Secondly, the balance owed on the loan must be at least 00.

How Does the Refinance Process Work?

Refinancing an auto loan is simple. To begin, contact your current
lender and request a payoff balance. Next, complete an online application
with an auto loan refi company. When applying for a refinance loan, you
must include detail information about your vehicle and loan amount. In
some cases, you may be asked to include the vehicle identification
number on the application. If applying online, approvals are instant.

Selecting an Auto Loan Refi Lender

Automobile loans must be refinanced through a different lender. Hence,
you should devote some time and energy to comparing lender rates and
offers. Do not accept the first offer received. A hasty decision may cost
you more money. Instead, request online quotes from three to four
lenders, and carefully review offers. Pick the lender that offers the most
savings.

Refinance Car Loan - Auto Refinancing Tips

View our recommended n.shtml">Refinance Car Loan lenders or view all of our Recommended Auto Lenders Online.

Buy a Car With Bad Credit With No Money Down

You've got bad credit and dealer after dealer is wanting money down. To buy a car with bad credit, with no money down, you need to know a few things.

First, there are only two reasons that a dealer would want a down payment...

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The most common reason is because it adds profit to the sale. The other less common reason is because it's needed to lower the total amount financed for approval by the lender. Trying to figure out which is the real motivation to pressuring you for cash is a little difficult so long as, you are depending on the dealer to get you approved.

Buy a Car With Bad Credit With No Money Down

Most people think that if they have bad credit, they have to use the financing offered through the car dealership. After all, the local bank won't give you a loan right? This is a common mistake that can cost you thousands of dollars in outrageous finance charges.

Let me fill you in on a little BIG secret...

Car dealerships mark up the price of the car. Everyone knows that. Did you know that they ALSO mark up the interest rate? Yes, they do. They submit your credit application to lenders. The lender responds with an offer. Let's say that they approve you for a rate of 9%. Guess what? The dealer, knowing that you know you have bad credit will try to convince you that you are approved at 12%. The 3% difference becomes nothing more than profit that the finance manager gets paid a commission on. Guess you pays for it... you. Your payments go up 10, 20, 30, 50 or even 0.00 per month simply because the dealership marked up the interest rate.

The truth is this. You can buy a car with bad credit with no down payment and also with lower interest rates by simply avoiding the dealer finance department altogether. If you know where to look and prearrange your financing (yes it's done everyday), then you can have the confidence to walk into a dealership, pick out the car of your choice based on the amount the finance company preapproves you for and had the dealer a check. This puts the power of negotiating price in your favor.

Car dealers will be jumping over backwards for your business.

Buy a Car With Bad Credit With No Money Down

Find Legitimate Lending Sources Here: Buying Cars with Bad Credit.

(http://www.BuyingCarswithBadCredit.com)

Jason Lanier, Expert Author.

Can I Refinance My Car With Bad Credit?

Refinancing your car with bad credit is actually very simple. The key to being able to do this and to actually get lower car payments without having to put any money down, is using a good lending source. The process is the same as obtaining a duplicate car loan, it's just that you have to find a lender that will approve you for a lower interest rate. There are a few really good sources online that allow you to do this easily and with minimal headaches.

Many people these days are ending up in situations where their bills are more than their income. It's very common and especially with the latest turn of event in the economy. More and more people are finding themselves in the predicament of having to choose between a car payment and a light bill. What used to be pocket money for extra little things is now being tightened up as people try to simply get by.

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Refinancing your car loan, even with bad credit is a good way to cut corners and lower your monthly expenses. If you've had your vehicle for a couple years, you can get approved for another loan at a better interest rate and with better terms, extending out your car loan so that your payments are lowered. The central key in doing this is using the right lending services. Not all loan companies are the same and you know that there are many out there that won't approve you with bad credit. That's why it's important to deal with car finance and refinance companies that work specifically with people that have bad credit and need a new car loan, or a car loan refinance with bad credit.

Can I Refinance My Car With Bad Credit?

Find Legitimate Lending Sources Here: BuyingCarswithBadCredit.com.

(http://www.BuyingCarswithBadCredit.com)

Jason Lanier, Expert Author.

Lenders For People With Really Bad Credit

How would you like a guaranteed personal loan approval? If you've got a bad credit score and haven't got the time to spend on improving it before you apply for your next loan or finance deal, you'll have to find reputable lenders for people with really bad credit.

It can be really difficult to get approval for personal loans if you have a bad credit history. Lenders are reluctant to lend to bad credit applicants because of the high risk of default. Those that do offer a bed credit lending facility will be compensated via high charges and interest rates, making it even harder for you to manage the required repayments.

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If you've you recently applied for a personal loan but had it declined because of your poor credit history, we recommend the following website which specialises in finding lenders for people with really bad credit history. The site Youdeservecredit.org specialises in providing you with introductions to reputable bad credit lenders who offer guaranteed personal loan approval.

Lenders For People With Really Bad Credit

The site has an exclusive database of lenders for people with really bad credit. These lenders understand the difficulties a bad credit rating can cause and specialise in providing guaranteed personal loan approval. Youdeservecredit.org has years of experience in the credit industry, and only deal with established reputable lenders with a proven track record.

As well as supplying you with a list of potential lenders, the site will also arm you with lots of credit industry insider knowledge that will allow you to improve your credit score before you apply, and thus improve the loan terms you get offered further. The savings you can achieve by following their tips can be considerable over the term of your loan.

You can find out a lot more about the service offered by the Youdeservecredit.org web site by visiting our Lenders For People With Really Bad Credit web page, if you do have bad credit, and you're struggling to secure a loan, our resources are well worth a visit. We've lots of information on all types of loans and finance, together with tips and advice as to how to improve your financial circumstances quickly, so take a look at NeedMoneyQuickly.com today.

Lenders For People With Really Bad Credit

At http://www.NeedMoneyQuickly.com you’ll find loads of advice on loans and credits, advice on saving money, and even advice on how to make money online, so if you need extra money now, take a look at his information loaded site today …

Guaranteed Military Auto Loan - Car Loans For Military Personnel

There are many people in the military that do not know many of the special offers that are specially been designated for the utilization of military servicemen and women. One such offer is a military car sales loan that can be taken up by a military person for the purpose of buying a car. This loan has a very low rate of interest in comparison to many other car loans. Being unaware, many military personnel do not utilize this advantage of taking up a military car sales loan.

Let us now get a more detailed insight into what are the advantages of taking up a military car sales loan and who are eligible to go in for such a loan and the process to obtain it.

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The Benefits of a Military Auto Loan

Guaranteed Military Auto Loan - Car Loans For Military Personnel

Any armed force personnel is eligible to obtain this loan to purchase a car, either used or new. Another option under this scheme is it can be used to refinance an already existing car loan. The advantage as was mentioned earlier is the lower rate of interest than other conventional car loans making it cheaper. Also, the monthly payments can be further reduced because the loan can be opted for a longer tenure than other loans.

The military car loans are provided to these military personnel at lesser rates of interest by the lenders who try to promote these loans. They look at the earnings of the military personnel as a steady income that makes them eligible to be provided such loans. They feel that the risk taken up by the lender is quite low that enables them to provide the loan at a much lower rate of interest than conventional loans but will still end up with a profit for them.

Among other advantages offered by military car sales loan is the flexibility of repayment. The borrower is given the option of paying low monthly installments for a longer duration or can take up the option of paying higher than stipulated to finish off the loan much faster thereby saving more by avoiding paying the interest. Even the amount offered as loan is significantly higher than what is provided for a conventional auto loan.

Eligibility Norms

In order to be eligible for a military car loan, the borrower should be actively serving in the armed forces. This loan is even provided to many of them with bad credit ratings as well as to personnel that have recently entered the armed forces too. But, the tenure of service does play a role in getting an approval for military auto loan.

The process of application is quite simple and can be done online over the internet too. The documentation that is necessary for approval is the proof of being in the armed forces. Other requirements is details such as address of residence, base where the person is located, telephone number, email details, contact person whom the lender can reach when the borrowing military person is posted abroad. The contact person should be someone who can communicate to the borrower any information that is given by the lender.

Guaranteed Military Auto Loan - Car Loans For Military Personnel

You can learn more about loan for military retirees as well as military cap loan when you visit http://www.martialloan.com - the top website devoted to military personal loan.

2nd Chance Auto Loan - 3 Killer Tips For Approval

Getting a 2nd chance auto loan requires a lot more than just luck these days. The recent financial crisis has made lenders more cautious and even people with average credit are finding it difficult. This article will arm you with 3 killer tips for getting approved, even if you have been turned down before or have terrible credit standing. After reading, you'll be one step closer to getting your hands on that car - guaranteed!

#1: Watch Repayment Terms
Many lenders just can't help themselves and often work into the terms of a loan, very tricky repayment terms. A common one is early redemption fees. These fees in of themselves aren't bad since most lenders today have them, the key here is to avoid excessive early redemption fees.

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Another thing you should avoid are very short loan terms. This is common when lenders try to reduce their exposure but it spells high monthly repayments for you.

2nd Chance Auto Loan - 3 Killer Tips For Approval

#2: Watch Excessive Interest Rates
Sadly when you have a poor credit many lenders are cautious (sometimes even paranoid) about lending. This often leads you down the road of those lenders who sniff out vulnerability and charge exorbitant interest on 2nd chance auto loan. If you have been declared a bankrupt or have really bad credit, then I am afraid you'll encounter this. The only thing you can do is do lots of shopping around until you find a rate that is acceptable to your budget.

#3: Avoid Initial Fees
When trying to secure a second chance auto loan, there will be a preliminary phase to the process. This will often include things like background checks, job history etc. It's important to note that these checks in no way guarantee acceptance and as such, you should avoid paying loan companies who charge for these initial preapproval checks. Most good companies will do an initial consultation free of charge and will only levy fees after a loan agreement has been reached.

Getting out of a financial rut can be hard, but if you apply the right techniques and approach you can do it. It's one of the great ironies of lending today, but the more you owe, the more you are seen as credit worthy. Getting a second chance auto loan is good way to put yourself back on track credit-wise.

Use the tips outlined above when securing a 2nd chance auto loan and where possible, utilize an online company. You'll save money and the process online is very fast. Most online companies only require a name and email to get started and sometimes you can have a decision in minutes.

2nd Chance Auto Loan - 3 Killer Tips For Approval

How to Get an Auto Loan Fast, Even With Bad Credit:
Believe it or not, you can get a fast auto loan REGARDLESS of your credit. Visit Best Bad Credit Car Loans to receive FREE quotes from the top 3 auto loan service providers. The application process takes just 60 seconds to complete. In fact, you could qualify for a car loan in as little as 24 hours, even if you've been turned down before. Best of all, the quotes are free and there is absolutely no obligation whatsoever.

Best of luck! Visit www.BestBadCreditCarloans.org to get started.
--Melanie

How to Get a Car Loan With a Credit Score of 600

When it comes to credit matters, no matter they are for loan or mortgage applications, it is your credit history and standing, which will determine, in larger part, if you will get the approval. Even if your application is approved, what types of rates will you be offered for, and how much you can borrow?

Today, it has become fairly easy for anyone with a credit score of around 600 to get a car loan, because there are some loan companies out there who are willing to provide car loans for customers with bad credit score with a higher rates. The trend had changed today which are in favor for those with bad credit history, but that does not mean that having bad credit is fine, bad credit ruin one's credit reputation on the ability to return any agreed payments and lending money to such people is considered high risk. Bankruptcy and foreclosure are credit worst enemies.

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If you are unaware of your credit score, you need to find out soonest possible. If you are unsure on how to go about it, seek advice from your local state credit institutions and they will be able to guide you to whatever information you are seeking for.

How to Get a Car Loan With a Credit Score of 600

Next, how to get a car loan with a credit score of 600? First of all, improve your credit standing is probably one of the most important things you should be doing. Start by listing out all your necessary expenses and add up their value, this is the total debts that you will need to pay every month. Next, minus your monthly income against the "total expenditure" and find out what is the balance. You should target to save at least 70% of this balance every month, to build up a stronger credit standing for yourself.

If you are at 600 credit score, target to get to at least 700 before you submit your car loan applications is a wise thing to do. This is to ensure you are able to get a better rate because those with a better credibility level has a better power to negotiate for the rate compared to people with bad credit scores.

Seek around for auto Insurance companies which have something for those with bad credit. Knowing what type of lenders to look for is very important for someone with low credit score of 600-650 because blindly searching for any lenders will end up getting rejected after wasting lots of your time applying for these loans. There are hundreds or even thousands of auto loan providers who are more than willing to offer a good auto loan terms to you than you might be expected.

How to Get a Car Loan With a Credit Score of 600

For more information about refinance auto loans [http://autoloansessentials.com/how-to-refinance-auto-loans-after-bankruptcy/] and auto loans rates [http://autoloansessentials.com/steps-on-how-to-get-a-car-loan-with-a-credit-score-of-600/], visit AutoLoansEssentials.com.

What is a Good Credit Score For an Auto Loan?

Unless you have a 760 or higher FICO score, it might be a good idea to review your credit report and see what you can do to improve your credit score. After the credit crunch, obtaining auto and personal loans became much harder. Today, what used to be considered excellent credit may only qualify for good credit, and it is that much more important to maintain a high score.

Generally speaking, a 760 FICO score will get you the very best rates at the very best loan terms. Anything higher really will not change what an auto lender can offer you since you will likely already qualify for the very best deal. If you have a 720 credit score or so, you should still be able to get a pretty good rate on your auto loan and not have any trouble getting approved.

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Where you will start to have trouble is if you fall below a 720, which is the national average credit score. When you fall below this less than perfect credit level, lenders start seeing you as a risk and will start charging higher interest rates in order to offset the risk. Depending on the credit grade the lender is willing to lend to, you may not even qualify for a loan.

What is a Good Credit Score For an Auto Loan?

Once you fall below a 700 FICO score, you have a greater chance of getting your loan automatically denied before a human even reviews your credit report. At this point your only resort is to seek a bad credit lender, or get to work on fixing your credit score. Luckily, there are a number of quick fixes you can make to improve your credit rating and get the loan you need at the rate you want.

What is a Good Credit Score For an Auto Loan?

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How to Get an Auto Loan Without a Cosigner

If you don't have a credit history or you have bad credit, you may be told by some car dealerships that you have to have a cosigner in order to get approved. How to get approved for an auto loan without a cosigner is very simple. If you have a job and you are over 18 years of age then you can easily apply for and get an approval through a few online lending sources that cater to helping people that either have bad credit or no credit.

While having a cosigner can have its benefits, it is not always needed.

\"auto Loan\"

Car lots are not going to tell you that you should go home and find out what they paid for the car that they are trying to sell you. They also will not tell you that you should look on the Internet to get a car loan.

How to Get an Auto Loan Without a Cosigner

Once the general public figured out that it was easy to find out what a dealer's cost was for a vehicle, dealerships had to start selling cars at invoice. Soon, it won't be long before it is general knowledge that you can get on the Internet and obtain car financing at better interest rates and a better terms than those that are offered a car lots.

This is good news for the consumer and bad news for car dealerships.

In today's economy, consumers need all the help that they can get. So, if you decide to take advantage of the opportunities that are available to you on the Internet through a couple websites, you may be pleasantly surprised to find out that it is much easier than you think to obtain a car loan on your own, without a cosigner.

How to Get an Auto Loan Without a Cosigner

No cosigner? Enter your ZIP code and household monthly income at http://www.MyCreditTree.Net/ and see if there is a lender that will approve you for a no money down car loan. You can also apply at http://www.FundMyVehicle.Net/ and get approved in 45 seconds.

Jason Lanier is a Platinum Level Author with over 180 published and syndicated articles relating to auto finance.

$5,000 Personal Loans For Bad Credit

Are you in need of a personal loan? Do you need this loan to be at least ,000? How is your credit? Most people now are experiencing credit problems and fall into the bad credit category. You are in luck if this is you because there are still ways to get ,000 Personal Loans For Bad Credit. Here are your best options.

You should always check with your bank before you do anything else. some banks, especially credit unions and smaller banks, are willing to do loans for their member that have been with them for quite some time. You will especially be able to get a loan if you have gotten one through a bank before. Another helpful thing is if you have retirement or investment accounts with the bank that can be used to help secure your loan.

\"bad Credit\"

Regardless of your situation check with your bank to see if there is anything they can do to help you out.

,000 Personal Loans For Bad Credit

Your next option is to search for bad credit lenders. There are a handful of lenders that will do personal loans of ,000 or more for you if you have bad credit. These lenders are not always the easiest to find and will often require that you have something on your credit that you have paid on time for at least 6 months. This could be an auto loan, credit card, mortgage, or anything else that shows up on your credit.

Another option is to use Prosper. This is an online lending marketplace that allows you to place an ad, like an auction, and allow private individuals to bid on your loan. This is a great way to get your loan funded without worries of what your credit looks like.

The last resort is to use a combination of payday loans or cash advances. The maximum you can usually get is ,500 so it might take four or five of these loans to get you the amount you need. The only problem with doing these to get ,000 Personal Loans For Bad Credit is that you will have to pay them back pretty quickly and that can be difficult.

,000 Personal Loans For Bad Credit

You can get more information about ,000 Personal Loans For Bad Credit and discover everything you need to know about Online Personal Loans at:

,000 Personal Loans For Bad Credit

Semi Truck Finance - Bad Credit

Did you know that if you are interested in purchasing a semi truck, it is now easier than ever to find the perfect one for your business, dealership, or fleet, even in these tough economic times. If you are a company driver and you are tired of all the nonsense you have to deal with working for someone else, you should definitely consider getting your own transportation business. Besides, why make money for someone else?

Go out there and get your own vehicle. Even with bad credit you will be better off with your own business. Commercial truck financing with bad credit provides trucks for acquisition & buy out of equipment that were repossessed before.

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Loans for folks with bad credit helps borrowers with the finances who want to buy a truck. Commercial loan financing can help you with the loan that you need.

Semi Truck Finance - Bad Credit

If you have bad credit there are many places that can arrange a loan for you. The commercial truck loan should be one that you understand and one that you are most comfortable with. Experienced companies understand the finance market and what is needed to get you low-interest rates and fast approvals. Most trucking companies have programs to train you to be a trainer but you will need to have a certain amount of truck driving experience under your belt. How the truck driving industry is changing and the myths associated with the industry are exactly what they are, just "myths". Whether you are a seasoned owner operator, a company semi driver or a semi driver who has just obtained a CDL license, there are thousands and thousands of off lease semi's and repos waiting for you to take over the payments. Some drivers own a semi and are their own boss; others drive for others and have set hours and destinations. Ask yourself this question; what kind of trucker do you want to be?

Semi Truck Finance - Bad Credit

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Minimum Credit Score For Auto Loan - Best Score For Guaranteed Approval

If you don't know what the minimum credit score for an auto loan is then you are setting yourself up for rejection after rejection. I don't want you to get rejected so I've put together this short article to give you some inside information on credit scoring and tips to follow to improve your approval rate with lenders.

What's with credit scoring anyway?
The 'credit score' was created as a standard for assessing the ability of a borrower to repay the amount borrowed in the form of a loan. It's a standardized system of rating and is calculated using several variables. It it's simplest for your credit score will always be assessed based on the following guidelines:

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720 and above is Prime Credit
680 to 719 is Good Credit
640 to 679 is Marginal Credit
600 to 639 is Sub-Prime Credit
580 to 599 is Poor Credit
525 to 579 is Bad Credit
480 to 524 is Very Bad Credit

Minimum Credit Score For Auto Loan - Best Score For Guaranteed Approval

If you find yourself in any category below marginal credit then it's not the end of the world. The finance industry has recognized that in these tough economic times there are a lot of people who can't boast a good or above credit rating. As a result of this there a lots of companies that will lend money to people who for whatever reason have a poor credit standing.

What's really good about auto loans is that qualifying is not as tough as say qualifying for a mortgage. The sum of money involved is usually smaller in comparison and so all one has to do is meet the minimum credit score for an auto loan.

If you find yourself with a score of say 480 - 524 (Very bad credit), the best way to improve your chances of getting an auto loan approval is to come up with a down payment. This will not only reduce the amount you have to borrow, but will give the lenders some confidence that you are at least able to come up with some of the cash.

Finding that perfect car loan doesn't have to be difficult and I hope that having read this article you now understand the fundamentals of credit scoring and what you can do today to ensure that you are successful with a loan application.

There are lots of online auto loan companies that specialize in lending to people with very low credit scores. I am confident that now you'll be able to chose the right one and get that auto loan you've always wanted.

Minimum Credit Score For Auto Loan - Best Score For Guaranteed Approval

Best of luck! Visit www.BestBadCreditCarloans.org to get started.
--Sarah

Getting an Auto Loan After Bankruptcy Discharge - I'll Show You How in 60 Seconds Or Less

People file for bankruptcy for many different reasons. Bankruptcy should be a last resort, but there are situations where there are no other alternatives. Bankruptcy takes a huge toll on credit scores. You can instantly go from having great credit to having the very worst credit. This makes it much harder to get loans. However, life goes on, and the need to get a car loan will eventually arise. So how do you go about getting an auto loan after bankruptcy discharge?

Well, the most important thing to do is to work on building up your credit. This is done by careful spending, and paying off any bills on time. Unfortunately, building up your credit takes time. If you need an auto loan after bankruptcy discharge fairly quickly, there are some options.

\"auto Loan\"

Many car dealerships offer loans to those with bad credit. These loans have limits, though. You won't get as much money, it will have a higher interest rate, and you'll be required to show proof that you can pay it back. Most car dealerships will work with you, though. Explain your situation, and you can usually walk out with a loan that works for you.

Getting an Auto Loan After Bankruptcy Discharge - I'll Show You How in 60 Seconds Or Less

Even with bad credit after a bankruptcy discharge, you can still get an auto loan. This is important, because you never know when you might need to get a loan. Paying off an auto loan after bankruptcy discharge on time is crucial, as it will add to your credit score. Once you get your credit score back up, you can be eligible for much better loans. Bankruptcy is hard, but there are ways to recover. They take time, but if you are disciplined, you can get back on your feet after a couple of years.

Getting an Auto Loan After Bankruptcy Discharge - I'll Show You How in 60 Seconds Or Less

How to Get an Auto Loan After Bankruptcy Discharge:
Believe it or not, you can get a fast auto loan quote in 60 seconds or less, REGARDLESS of your credit. CLICK HERE for a review of the top 3 best bad credit car loans. All three companies provide fast and completely FREE auto loan quotes. Best of all, there is absolutely no obligation whatsoever.

No need to wish you luck, it's fast and easy! Visit www.BestBadCreditCarLoans.org to get started. -- Melanie

Bad Credit, Low-Income Home Loans

Bad credit, low-income home loans are meant for people with a low income and with a bad credit history. Following some legal requirements; most money lenders and banks have increased the number of loans to low-income home buyers with bad credit.

Generally, these loans are available in rural areas. In bad credit low-income home loans, the payment schedule is based on the household income. To obtain such a loan, the applicant must meet certain income limits and have a reliable income.

\"bad Credit\"

Bad credit low-income home loans are designed for the long term, and the interest rates may vary throughout that period. Low-income members of the society with bad credit have numerous difficulties in securing home loans. Closing costs and down payments are some of the problems. Closing costs include title searches for deeds, processing documents, and legal fees. These fees are always fixed, as per the money lender. However, some companies do not require down payments for their bad credit low-income home loans.

Bad Credit, Low-Income Home Loans

Bad credit low-income home loans differ in a number ways. As the financial situations of low-income groups are in constant flux, the risk of default is very high. Most lenders prefer weekly cash repayments. For getting bad credit low-income home loans, you should first submit a loan application mentioning your needs. You should also present an explanation of your credit reports; the explanation should include the reason for the failing of your credit.

There are a good number of companies and money lenders who provide bad credit low-income home loans at low interest rates and with small or no down payments. Several finance companies and banks specialize in high-rate loans to low-income families. Online services are a convenient and fast method to learn about these loans. They provide the details regarding interest options, rate of interest, prepayment, and repayment options.

Bad Credit, Low-Income Home Loans

Bad Credit Home Loans [http://www.e-BadCreditHomeLoans.com] provides detailed information on Bad Credit Home Loans, Bad Credit Home Equity Loans, Bad Credit Home Improvement Loans, Bad Credit Home Mortgage Loans and more. Bad Credit Home Loans is affiliated with Bad Credit Home Equity Loan Refinancing.

Best Places to Refinance Auto Loans

You might not know it, but you can save quite a bit of money when you refinance auto loans. And there are numerous ways you can refinance the auto loan. As long as you follow through the entire process you can be sure to save on your monthly car payments. What would you say to a savings of a month on your current car payment? That's 0 a year and 00 over the course of a normal 5 year loan. Now we're talking about a large amount of cash!

So where do you refinance auto loans?

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1) Your local bank.
Local banks can be a good place to refinance a car loan, especially when you already have a solid relationship with the bank. Check them out first, but don't just take the first offer you get. Take some time and do your own research into other possible refinancing options as well to get the best deal.

Best Places to Refinance Auto Loans

2) Your local credit union.
Credit unions often offer outstanding refinancing rates, especially for those with high credit scores. Just be aware that many credit unions won't work with those that have had past credit problems or issues with their credit rating.

3) Your local car dealer.
Car dealers can work with you to refinance auto loans, however many times they will just try to sell you a new car. This completely defeats the purpose of trying to refinance your car loan in the first place and will often lead to even higher car payments. If you choose to refinance through a car dealer make sure you don't get sucked into buying a new car.

4) *BEST* Online solutions.
Using an online lender can be your best option to refinance auto loans. You'll find that the application and approval process can both be easier than offline loan companies. Plus, the online auto lenders will go through a network of companies to get the best rates for your car loan. Another positive is that the online lenders will only need to pull your credit report once to compare rates meaning you'll have less activity on your credit report and less chance of being penalized because of too many inquiries.

Once you get out there and compare auto loan refinancing options you'll see that in many cases online refinancing is the way to go. It allows you to quickly and easily compare rates from a bunch of lenders and will almost always get you the best terms and save you the most money.

Best Places to Refinance Auto Loans

Learn to refinance auto loans and the best ways to get auto financing by visiting the authors website.

The Easy Mortgage For Bad Credit Solution

When you need to obtain a mortgage for bad credit, there are a couple options you have to choose from. Before you commit to anything, it is crucial that you know your options and spend some time thinking about this important decision. Whatever you decide is something you may be stuck facing and paying off for the next 30 years, so do not take this decision lightly.

Your mortgage for bad credit options are basically the following:

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1. Search for and try to find the best offer with your current credit situation
2. Focus on credit restoration to qualify for preferred treatment

The Easy Mortgage For Bad Credit Solution

There are a number of companies and organizations that will approve you for a home loan no matter what your credit score, but that comes with major consequences. You're likely to pay outrageous fees and the interest you'll pay on the loan will be two to three times the average rate.

As a result, not only will it cost you hundreds or even thousands of dollars more to live in your home every month, but by the time you pay off your mortgage it could cost you hundreds of thousands of dollars more. That's because each month you pay your mortgage, more money is sent to the bank to pay interest than to actually owning your home. You're simply paying a fee.

Whether you need a mortgage for bad credit to purchase a new home, refinance your current home, or buy a second home, you'll end up paying more with these plans - and not just in mortgage payments. Because of your bad credit, your closing costs could be higher and you may end up paying private mortgage insurance (PMI), which is nothing more than a fee because of your bad credit score.

This can all be entirely eliminated by simply planning 30 - 90 days before you purchase your home. By putting a little effort in restoring your credit, you can erase any worries about getting approved for a mortgage. In doing so you'll save thousands of dollars in the process and reduce your closing costs.

The Easy Mortgage For Bad Credit Solution

Take the first and easiest step in repairing your credit right now. Get your credit fix in less than 45 seconds and watch your future start to change today. Discover how to rebuild credit

Should I Refinance my Car Loan?

There are mainly two condition why one would be willing to refinance a car loan: a) If one wants to steer clear of repossession and can't afford the loan's monthly payments. b) If one wants to take advantage of better market conditions and wants to lower the monthly payments by refinancing with a lower interest rate.

For both of these situations, car loan refinance seems to be the most comprehensive solution. However, refinancing won't always be advantageous and you might even spend thousands more due to an adverse financial transaction.

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When Refinance is the only way to go

Should I Refinance my Car Loan?

If you can't afford the monthly payments you might want to refinance your car loan in order to reduce the loan installments. A reduction can be obtained either by a reduction of the interest rate or by an extension on the loan's length. You can also combine these two factors and get a more significant reduction.

Chances are however, that if you need to refinance, you probably have a bad credit score and poor credit history. This will prevent you from getting a low interest rate and you'll probably have to agree to a higher interest rate. Thus, your only possibility of getting a reduction on the amount of the monthly payments is by extending the loan's length.

Do your research and find the best offer available. There are many lenders out there and even if you have to agree to a higher interest rate, it doesn't have to be the highest. So ask for loan quotes, compare what the lenders have to offer and choose the best deal so as to spend as little as possible.

Refinancing to save money on interests

If you just want to take advantage of better market conditions and you don't need to reduce your monthly payments due to an inability to repay the loan, you are in better conditions to negotiate enhanced loan terms. Find a lender willing to offer you a lower interest rate and extend or shorten you repayment schedule according to your needs.

Make sure the amount you save from the reduction on the interest rate is not secretly added to your loan in the form of administrative fees, closing fees, application fees, or any other euphemistic expression. Otherwise, you won't be saving any money and the refinance loan might end up being a useless financial transaction.

Refinancing a car loan is an overall simple financial operation but you need to be careful and pay special attention to the interest rate charged and any other costs and fees hidden in the small print. Either if you are forced to refinance or if you want to seize the benefits of better market conditions, doing your research, comparing and then deciding is the smart way to go.

Should I Refinance my Car Loan?

Mary Wise, a professional consultant with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders. You can visit her site and get aid for Car Loans regardless of your credit. If the link doesn't work, just copy badcreditloanservices.com and paste it in your browser’s address bar.

Refinance Home Mortgage

Are you considering refinancing your home mortgage? Refinance Home Mortgage allows you to take a new mortgage for relatively lower interest rate. Home refinance is nothing but paying off one home loan with another loan. If you do everything correctly you can easily apply for a refinance home mortgage and pay of your other outstanding debts.

A Refinance home mortgage is the best option for those who have a good financial sense and are willing to put their money to good use. Refinance loans can help you consolidate your debt, lower your interest rate and help you get the cash out. Mortgage loans help you to buy residential or commercial properties without paying the full value of the properties up front, while paying a fraction of the real value of the property. By getting mortgage loans you are pledging your property against the remaining value of it. The opportunities for getting a home mortgage loan have increased tremendously, with numerous banks and financial institutions offering various options. However, you need to be careful in comparing different rates available in the market, as you must be considering the monetary benefit of the home mortgage loan seriously. Home mortgage loan brokers have extensive knowledge about the best resources available for mortgage loans and they would be able to help you out in finding out the best possible deal for you. It will be very difficult for you to find out yourself a lucrative mortgage loan, since mortgage rates tend to vary based on interest rates. Since stock markets play an important role in the direction of interest rates, it would be better for you to get professional assistance from professional brokers. I personally believe that lay persons would not be aware of interest rate, stock market, Wall Street sentiment and overall macroeconomic trends that influence the home mortgage loan rates. Apart from financial companies and banks, thrift institutions, commercial banks, mortgage companies, and credit unions, etc also offer lucrative home mortgage loans, given owning a house is a dream of everybody. Benefits of Refinance home mortgage

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If you refinance mortgage your old rate with higher monthly payment is replaced by new and lower interest rate that equates a lower monthly payment. You can easily convert your current adjustable rate into a fixed rate mortgage. Mortgage refinance will allow you to shorten the length of your mortgage You can easily cash out some of your equity for debt consolidation You can also remove the mortgage insurance if you have reached 20% equity mark.

Refinance Home Mortgage

Darren Dunner writes for http://www.iloanresource.com, offering the latest information on Loans, visit them today for more infromation on types of loans. Visit today: http://www.iloanresource.com

Refinancing Your Mortgage

When you have a mortgage, there will often be a time where you will have the opportunity to do a mortgage refinance. Refinancing a mortgage involves getting a new mortgage with different terms and conditions while the first mortgage is paid off. For many homeowners, it can be advantageous to refinance their current mortgage, particularly if they are having debt management problems and would like a mortgage with a lower interest rate.

When considering a refinance, it is important to consider the following:

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Pay Off Mortgage Sooner: When people get their first mortgage they will often get a long term mortgage because the monthly repayments will be lower. However, over time there may changes in their financial situation and they may want to pay off the mortgage sooner which will reduce the overall interest owed. Refinancing allows homeowners to negotiate for a mortgage with a shorter amortization term.

Refinancing Your Mortgage

Consolidate Debt: If you have a lot of debt, refinancing your mortgage to include outstanding debt such as credit card debt to have one loan and one interest rate, Combing outstanding debt a part of the mortgage refinancing makes repayments easier as you only have the one payment and one lower interest rate.

Lower Interest Rate: If you have a fairly high interest rate, it can be very beneficial to negotiate for a mortgage with a lower interest rate. This will reduce your monthly payments. It is always beneficial to get a mortgage with a lower interest rate. It is important to remember that if you refinance your mortgage and get an adjustable rate, the interest rate will depend on market conditions. With this type of mortgage, your payments could increase or decrease. If you have an adjustable rate, you may want to consider refinancing for a fixed interest rate mortgage.

There are a number of ways to get a refinance that works for you. The first thing you should do is improve your financial record. For instance, bring any outstanding debts up-to-date, make sure your credit history is in good standing and there are not errors on your record, and check to make sure the value of your home has not gone down so that you do not owe more money than the actual value of the home. As well, it is well worth shopping around for a good mortgage refinance offer.

When you do your homework, you can often get a better mortgage refinance than your current mortgage. Many online mortgage calculators are designed to calculate the effect of refinancing your mortgage. As well, in today's market, there are some good deals on getting a mortgage with a low interest rate. The best part of mortgage refinancing is that it provides you with a some extra cash. When you refinance for an amount greater than what you owe on your home, you can receive the difference in a cash payment. If the terms and conditions are right, it can be really advantageous to get mortgage refinance.

Refinancing Your Mortgage

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Understanding an FHA Streamline Refinance

The FHA has allowed streamlined refinances since the early '80s to help lower the amount of a person's monthly mortgage payment and quickly, an FHA streamline refinance is an option. While the federal government offers a number of loan programs, this particular one is popular in that it can be secured very quickly. Therefore, anyone with an FHA or VA mortgage loan, one that is in good standing, would find it easy to qualify for a refinance loan to lower payments.

Known as a "fast track" option, the FHA streamline refinance loan is designed so the underwriting process associated with mortgage loans takes less time. However, this does not mean that there are no costs involved with the refinance. There are basic requirements that must also be met including:

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o The mortgage must already be FHA insured
o The mortgage must not be delinquent
o The refinance will lower the borrower's monthly principal and interest payments
o No cash can be taken out during the process

Understanding an FHA Streamline Refinance

Using lower interest rates currently being offered, lenders can ultimately decrease the monthly mortgage payment. For a home with 18 years or more of payments still left, the refinanced loan would go back to a 30-year payoff. However, for loans with 12 years or less until maturity, the life of the loan would be based on the original loan's maturity date.

In addition to people enjoying lower mortgage payments, one of the benefits for an FHA streamline refinance is that the property may or may not need to be appraised. The purpose of using the refinance loan setup without an appraisal is to reduce the amount of the monthly mortgage payment. In this case, the homeowner would not be able to take any money out of the home's equity whereas refinancing with an appraisal would allow the homeowner to withdraw cash.

The rules for an FHA streamline refinance are somewhat different if the property is considered an investment. An investment property is a property that the borrower does not actually live in. In a situation such as this, the only amount that could be refinanced would be the balance of the existing loan and can only be refinanced without an appraisal. In addition, the amount of this type of refinance loan could only exceed the standard limitations for an FHA or VA loan.

Depending on the lender of an FHA streamline refinance loan, some offer loans with no associated costs but sometimes, these loans might have a higher interest rate. This simply means that there is no out-of-pocket cost associated with the FHA streamline refinance at the time, but the homeowner eventually pays for those costs overtime by paying a higher interest rate on the new loan. The premium received by the lender is used to pay the closing costs on the newly refinanced loan.

The bottom line is that if a homeowner makes payments on time and at some point wants to refinance, the opportunity would exist with an FHA streamline refinance loan.

Understanding an FHA Streamline Refinance

Sean Safholm, CalPERS Direct Lender http://www.calstatelender.com

For CalPERS Loans, please visit our site

How to Refinance Your Mortgage Loan After Chapter 7 or Chapter 13 Bankruptcy

Did you recently file for Chapter 7 or Chapter 13 bankruptcy and need a mortgage refinance loan?

There is no question that filing for bankrupcty negatively impacts your credit file. Whenever you apply for a mortgage loan, credit card or even a small unsecured personal loan, your potential lender pulls your credit report. Having a bankrupcty or chargeoff on your credit report is a red flag that tells the lender that you are likely not to pay back your loan.

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Can you refinance your mortgage loan after bankruptcy? The quick answer is "yes". You can get a home equity loan, HELOC or a cash out refinance loan, even after bankruptcy.

How to Refinance Your Mortgage Loan After Chapter 7 or Chapter 13 Bankruptcy

Getting A Mortgage Refinance Loan After Chapter 7 Bankruptcy

When you filed for Chapter 7 bankruptcy, chances are, you were able to keep your home. If you are one of the lucky ones, who lives in a state like Florida, California, Nevada or a number of other states that have seen significant appreciations in home property values - you may have anywhere from 5% to 50% equity in your home. You can take advantage of this equity to wipe out any outstanding debts that are left over after the bankruptcy or to take care of other financial needs.

The great news about Chapter 7 bankruptcy is that it offers a new beginning and erases most of your debts with the exeption of 19 cases, where debts are not discharged. These cases include, child support, taxes, student loans, fines and restitutions imposed by courts.

If you still have student loans or taxes to pay - there is no better time to tackle them, than now. Give yourself the gift of starting fresh.

You can get a mortgage refinance loan, literally the day after your Chapter 7 bankrupcty is discharged. You don't have to wait for any specified time period. You will need to find subprime mortgage refinance loan lenders, who specialize in cash out refinances, home equity loans and HELOCs for a mortgage program that is suitable for your credit score - be it 450, 480, 500, 550 or 600.

Getting A Mortgage Refinance Loan After Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows individuals to reorganize their finances. When a consumer files for chapter 13, the consumer proposes a plan to pay back his or her creditors over a 3 to 5 year period. During this period, the creditors cannot harrass or attempt to collect on any of the previously incurred debts.

For this reason, a person, who files a Chapter 13 bankruptcy can refinance their mortgage loan, 6 months after they file for bankruptcy.

How to Refinance Your Mortgage Loan After Chapter 7 or Chapter 13 Bankruptcy

Research recommended subprime mortgage refinance loan lenders, who offer bad credit home equity loans, HELOCs and cash out refinance mortgage loans after chapter 7 or chapter 13 bankruptcy.

Visit the mortgage loan resource guide at http://www.kstreetloans.com

Sharon Listner writes about finances and conducts in-depth analysis on various mortgage loan and personal loan programs.

Refinance or Second Mortgage? Combining 1st & 2nd Mortgages Together

I had a recent conversation with one of my clients, Mr. Jackson, who is a finance savvy homeowner from Virginia Beach, VA. He asked me an interesting question that I wanted to share with you, because it seems to be a common dilemma for homeowners in many states.

What the best solution for refinancing my first & second mortgages? Mr. Jackson elaborated, "I have an 6% 1st mortgage with a balance of 5,000, and a second mortgage at 14% with a balance of ,500. We did a 125% second mortgage to pay off some credit cards. If I add the loans together, we exceeded our homes equity, as the property was appraised at 0,000. We are satisfied with the 1st mortgage rate, but we wanted to lower the rate on the second mortgage. A few years have passed since we took out the 2nd loan back in 2002, and importantly our home's value has increased to about 5,000." He continued, "Should I refinance the second by itself and try and get a lower rate, or should I refinance the 1st and 2nd mortgage together for one mortgage payment?"

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Wow, what a good question. I praised my client for consolidating his credit card debts with a fixed rate loan. He was very satisfied with his monthly savings with the 125% loan and because it exceeded his property value, he did not consider refinancing that loan until neighbor hood housing costs went up significantly. Now that his house has increased its value it appears that his combined loan to value was under 100%. His refinancing options become much greater with the increased equity from the home appreciation.

Refinance or Second Mortgage? Combining 1st & 2nd Mortgages Together

I asked Mr. Jackson a few questions so I could help him find the best solution. How is your credit? Do you know your credit score? Is there a pre-payment penalty on your second mortgage?
Does your first mortgage have a fixed interest rate?
Jackson answered quickly: 689 credit score no pre-payment penalty after 3 years, and his 1st mortgage is at 6% with a 30 year fixed rate.

Combining first and second mortgages into one loan can be challenging, but sometimes it makes sense financially as well as being practical. In Jackson's case, the best option was to leave his first mortgage alone, and simply refinance the 125% home equity loan with a 95- 100% second mortgage to lower his monthly payments. So Mr. Jackson was approved for a fixed rate 2nd mortgage. He had inquired about a home equity line of credit, but I reminded him that they have adjustable rates that have been increasing rapidly in the last few years. Since he was paying off long term debt, a fixed rate loan with simple interest was the only way to go. I was excited for Mr. Jackson, because we were able to get him approved for a loan with no pre-payment penalty and we were able to reduce the closing costs, because of his credit score.

Depending on the home equity program, 2nd mortgages may cost you a few thousand dollars in closing costs. Most closing costs are tax deductible and getting the lowest possible rate pays off in the long run. For example, With a 15 year term, you would recover the cost of the second mortgage within a few years, so if you can get 1% or more better paying some closing costs, it would be better than a home equity loan with no points. The lending reality is that most no point no fee 2nd mortgages require credit scores over 700, and the combined loan to value will most likely need to be under 90%.

If you are able to get the second mortgage with no penalty for early payoff, then get that feature with your loan, because if your home's value continues to increase, then in a year or two, you may find yourself ready to refinance because you are back at the golden 80% combined loan to value. If 1st mortgage rates happen to drop again, then you may find yourself in a great position to finally combine both loans together. If the 1st mortgage rates dropped to the 6% zone, and you still plan to live in your home for many years to come then make the move to refinance. It all comes down to what the rate are doing, when the time comes.

Refinance or Second Mortgage? Combining 1st & 2nd Mortgages Together

Lynda Nelms writes a popular column, called "Ask Lynda" where she offers helpful home financing tips to consumers from an experienced loan officer's perspective. She wrote a few popular articles in 2004 & 2005 for Mortgage Loan Outlet [http://www.MortgageLoanOutlet.com] and she continues to pass her advice to other finance related sources.

Currently, Lynda originates loans for BD Nationwide Mortgage, who is located in San Diego, California. You can read more of her "Ask Lynda?" articles at BD Nationwide Mortgage and get more information about home equity and second mortgage loans. For a complete look at 2nd mortgages please go to the home equity loan resources online.

How To Use Obama's Mortgage Stimulus Plan and Refinance a Mortgage

President Barack Obama has enacted a mortgage stimulus plan which will allow millions of homeowners the opportunity to refinance their home mortgage into a 4.5% fixed rate. This "Home Affordability Program" will give homeowners the chance to save hundreds of dollars per month. Here is how:

Currently, there are numerous grants available to homeowners, regardless of their credit rating. This government program is targeted towards people who need short term help. These grants can be used for loan repayments.

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There are loan modification programs available to homeowners who are facing "Financial Hardship" this can be, medical bills, loss of income or job, other debts. These loan modification programs will allow homeowner to have a monthly mortgage payment that is no more than 31% of their gross monthly income.

How To Use Obama's Mortgage Stimulus Plan and Refinance a Mortgage

Also, the total amount of all other debts, including mortgage payments, must not exceed 51% of the homeowners gross monthly income.

The Federal Reserve and President Obama would like to see mortgage interest rates locked into a low 4.5% for all current and potential homeowners.

Homeowners can save on the cost of a mortgage counselor by getting free help from HUD appointed mortgage counselors, who act as representatives for you when talking to banks or lenders, for free.

Homeowners who have seen the value of their property fall by 15% or more during this mortgage crisis will be able to refinance into a 4.5% fixed rate home loan. This will help homeowners who have seen their property values drop as the housing market crashed.

President Obama knows that the economy is facing hard times and is trying to help homeowners. The government has set aside over billion dollars to help homeowners refinance their mortgage. Home foreclosures are on the rise and home prices are falling. This mortgage stimulus plan will help to stabilize the housing market and with that, home prices will start to rise. Refinancing a home mortgage the right way will save you a lot of money, especially with this "Home Affordability Plan" from Obama. Take advantage of this great chance and speak with a mortgage lender or bank.

How To Use Obama's Mortgage Stimulus Plan and Refinance a Mortgage

Home refinancing can save you thousands or if it is done the wrong way cost you thousands. Greedy mortgage lenders will try to suck you dry if you let them. Learn how to properly refinancing a home mortgage and walk away happy and with more money.