What respectable banks or companies do fair credit refinaces?
I have fair credit and I am in an Option arm. I am told that I should take out equity from my house to help pay my mortgage for 2yrs. That scares me an I am not convinced that is a better idea. I have been told that due to my 615 credit score I do not qualify for interest only/ 40/50 year fixed rate. I don’t know what all my realistic options are.( 2yr adj. or stay where I am at)and what would be the best choice.
Interest only loans are a really bad idea right now. I wouldn’t re-fi to anything less than a 5/40. ARM. Go to bankrate.com for more choices. -MM
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