home refinance

You may qualify for some of the new HARP programs. I would contact your servicer and see what they can do to help. I have helped several customers in our servicing portfolio with scores less than 600. They were able to take advantage of rates below 4%...

There are lenders willing to go down to as low as 500, however the guidelines are so strict, that very few qualify.. Best advice is to contact a local mortgage broker and let him look at your credit and see if there is a way to improve your score.. it might take a little time, but it will be worth it. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

At the end of the day, with a score as low as yours, the new rate you receive may be worse than what you already have. The best thing to do is to find a local Mortgage Banker/Broker to find out what you can do to fix your credit so your score is improved. Although we don't lend in MA, we have a credit department that does a real good job of developing a road map to help get customers like you to get their credit where it needs to be to get great rates. Find a local Mortgage Banker/Broker in your area to help you do the same thing. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Do not go to the bigger banks. Talk with mortgage brokers that cover MA. There are lenders out there that go down to a 540 middle credit score but I am not sure about your area. Good luck!