Wells Fargo already approves most resubordination packages it receives from first-edition HARP loan applicants, Brown says.
If you can't get a traditional loan approved, the Federal Housing Administration has extended several low fico loans for debt consolidation and refinancing.
FHLR wrote a good article about Bad Credit Refinancing with FHA that is worth reading.
The second mortgage lender typically charges a fee of to 0 to review the package, says Anne Benjamin, chief operating officer at Redwood Credit Union in Santa Rosa, Calif.
The response can take up to six weeks, Benjamin says.
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