Can I refinance my mortgage with bad credit
An FHA Streamline Refinance can help you refinance your current loan even if you have bad credit. Because these loans are insured by the federal government, more people qualify for FHA loans than for traditional ones. Even if you’ve had accounts forwarded to collections, have filed bankruptcy in the past, or have high debt, you still may qualify to refinance.
By working with an FHA mortgage instead of a standard loan, you could save thousands of dollars in interest and closing costs, too.
Additionally, you should certainly explore would be government programs such as the Home Affordable Refinance Program HARP 2.0 Refinance and the Home Affordable Modification Program (HAMP). These free programs are designed to lower the interest rates and monthly payments for individuals whose current mortgage is an excessive burden, and for people who owe more on their mortgage than their home is worth.
These government aid programs have been extended. But you should not delay examining this option because they will expire on Dec. 31, 2013