Bad Credit Mortgages

Bad Credit 2nd Mortgages is a reputable website inspired to post info about the BC Mortgage for people with poor credit looking to refinance or received cash back. Our no cost service connects consumers with specialized lenders offering subprime refinancing and cash out loans. Homeowners now have the luxury of choosing from FHA, second mortgages and hard money loans. Shop 2nd mortgage lenders that offer some of the best alternative financing and subprime mortgages in the nation.

  • Refinance into a Fixed 1st or 2nd Mortgage with Bad Credit Scores
  • Get Access to Money for Bill Consolidation, House Remodeling & More
  • Mortgages Approved with Past Bankruptcy, Short Sales, Bad Debts and Past Foreclosures
  • Low Fico Scores Allowed with Several Bad Credit Mortgage Refinance Programs
  • Check Rates, Requirements and Loan Program Eligibility Now

Use this website to find lenders that specialize in bad credit mortgages and subprime equity loans for cash back and consolidation. Shop and find lenders that cater to low fico score borrowers and our interest rates are reasonable.

  • Compare Rates on 2nd Mortgage Programs for people with a bad credit history
  • Talk to Loan Companies for Alternative Mortgage Loans for Homeowners Seeking a 2nd Chance
  • Search for Cash Out Loans from Subprime, Hard Money and Second Mortgage Lenders Online

Top 5 Most Popular Poor Credit Mortgages

  1. Bad Credit Mortgage Refinance Loans
  2. FHA Mortgage with Bad Credit Scores
  3. Bad Credit Home Refinancing with Cash In-Hand Options
  4. Hard Money Loans with No Minimum Credit Score
  5. Home Equity Loans with Poor Credit

Like our online bulletin board states, we offer state of the art house refinancing and 2nd mortgages for getting cash even after a bankruptcy, foreclosure or credit card charge-offs. Our home equity programs were created to meet your financial needs, even if your credit scores are poor. Since refinancing rates are low again, you should submit a request and get approved for a mortgage that rewards you for debt consolidation of your credit cards, auto loans, home equity credit lines and adjustable rate personal loans into one easy payment. No Credit Check Required!

How to Receive Money Back in a 2nd Mortgage or Home Refinance Loan

When you're a homeowner, your home can be much more than just a place for you and your family to escape from the world and call your own. It's also a major investment, and one of your biggest assets. That's why choosing to refinance and receive some money back in the loan is something that many end up doing – it's an easy way to get cash you can use for home improvements, vacations, or debt consolidation. However, understanding the different options is important before you get started.

The cash out mortgage provides you with a refinance loan that also gives you additional cash beyond what you currently owe on the home. In these types of loans, your cash out amount is based on the equity – the amount of value your home has over the current loan amount.

For example, if your home is valued at $200,000 and you currently owe $150,000 on the loan, your equity is about $50,000. That's usually the amount that you can receive in cash, though many lenders will only provide a somewhat lower total amount of cash.

It's also important to understand that your lender will have their own requirements in terms of the overall equity level you have and the loan to value amount that you must show. For example:

  • 2nd Mortgage lenders offer cash out loans with 0 to 10% equity (90-100% LTV)
  • Conventional lenders usually require 80% loan to value, and 20% equity
  • FHA loans are slightly lower, with a 15% equity or 85% LTV requirement (85% LTV)

If you can meet these basic requirements, there is a good chance that you can receive money back from the loan that you take out during your refinance. Some lenders also offer programs that allow you to set up a kind of credit account, only taking out the money you need as you need it. This can help keep monthly payments lower but still give you additional money to use as you see fit – much like a credit card account.

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These refinance loans provide you with the money that you can then use as you see fit, usually with no restrictions. Most people use the funds to pay off higher interest debts, student loans, complete home repairs, or even take a vacation. Once you have the money, how you spend it is up to you.

If you can't qualify for the LTV requirements or other refinance with cash out option loans, you still have other ways to receive cash back. One option is the second mortgage, which functions just like an initial mortgage but once again is based on the overall equity in the home. These loans exist alongside your initial mortgage, and you'll be responsible for repaying each of them. That's the primary difference between it and a traditional refinance loan.

Whatever you eventually decide on, it's important to look at your home as a source of wealth, not just as a place to lay your head. You can put it to work for you and your finances if you are smart about things, and it could deliver you money for any situation.

While most banks limit you to 70 or 80% of your home's value, we can lend you up to 95 or 100% of the value of your home for loan amounts up to $100,000.

  • 2nd Mortgages from $25,000 to 500,000
  • No Equity Loans from 80 to 100%
  • Bankruptcy and Consumer Credit Counseling OK
  • Finance Home improvements projects
  • Credit Lines on 2nd Homes
  • Consolidate your high-interest credit card debt.
  • Fixed 2nd Mortgage Rates
  • Refinance Bad Credit Mortgages
  • Adjustable Home Equity Lines
  • Variable Second Mortgages for Low Credit Scores
  • Non-Conforming 2nd Loans
  • Hard Money Loans for credit scores below 500
  • Overcoming Bad Credit to Qualify for a Refinance
  • Refinanced Choices with FHA
Talk to loan experts that will try and help outline a plan for you to eliminate the burden of growing negative interest on your credit cards, and qualify for a secured 2nd lien with fixed, simple interest rates that may offer additional tax savings. As you know, tax deductions are difficult to find in today's volatile economy, so request a quote for cash out refinancing that makes sense to your bottom line.
  • Get Money for Unsecured Credit Consolidation
  • Cash to Pay for Home Improvements
  • No Credit Check Mortgage Quotes
  • Eliminate high-interest credit card debt.
  • Borrow up to 100% of your home's appraised value.
  • Stated Income Programs with No Income documentation Required!
  • Hard Money Loans with 1st and 2nd Mortgages

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Learn How to Reduce Interest on Home Equity Lines of Credit

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NEWS -In a recent survey, the Mortgage Bankers Assn., said mortgages with one or more missed loan payment (but not yet in foreclosure) rose over 7.5% in the 1st quarter of 2016. The MBA survey revealed the increase in loan delinquencies appeared to be a result of a sluggish economy and high unemployment across the country. A spokesman commented that with house prices up ticking again some California regions, more distressed residents are seeking the option of selling their property rather than a short-sale or foreclosure. Read the original LA Times article.

For homeowners that want to remain in their house but reduce their housing expenses, the Home Affordable Refinance Program continues to allow the subordination of 2nd mortgage loans. That means if you have a first mortgage that is underwater but a have been unable to refinance because of your second loan, times have changed. The HARP 2.0 has no equity requirements and the program has become more flexible because lenders are not on the hook if the borrower defaults.

Will the Fed Rate Hike Affect Rates on Home Equity Programs and 2nd Mortgage Products? Janet Yellen has all but promised that the Federal Reserve will be raising rates in December for the first time in seven years. The question you should be asking is How will the Fed rate hike this effect mortgage rates in 2016 and 2017? Could a .25 rise in rates really have that much of an effect in rates for residential real estate? The answer is both Yes and No, because some rates could be effected negatively and some could be affected positively. Remember that Yellen is not raising 1st and 2nd mortgage rates per say. Unfortunately many media outlets "lump all interest rates together and assuming that a rise in the federal funds rate is going to cause all rates in the housing sector to rise. BankRate and Zillow posted a report on interest rates that revealed rates had actually hit historic lows again. The activity on home refinancing and second mortgage applications is soaring once again.