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Refinance With Bad Credit  by: Jennifer Hershey If you have bad credit and believe you are out of luck when it comes to refinancing or purchasing a new home, you may want to reconsider your options. Just because you have bad credit, it does not mean you will be unable to get a loan, nor does it mean that you are at the mercy of the mortgage companies. You are not. The mortgage industry is a very diverse one with literally thousands of lenders across the country that just might offer a program that fits your needs. These lenders that offer programs to consumers with poor credit are known as wholesale lenders. Wholesale lenders work directly with mortgage brokers, whose job it is to assist you in finding a mortgage lender regardless of your credit score. It is also the responsibility of the mortgage broker to counsel and educate you through the entire mortgage process. If you decide that you do not want to do the shopping around yourself, than you should seriously consider finding a mortgage broker to help you. They have relationships with hundreds of wholesale lenders, and they will work to find a program that fits your needs. Keep in mind, brokers are paid on commission, so it is just as important to them as it is to you to get to the closing table. A good place to start for tracking down a mortgage broker is the internet. Contact a few brokers, allow for them to assess your situation, than work with the one that best fits your needs and budget. Best of luck. About The Author Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of http://www.explainingmortgages.com/, a mortgage resource site devoted to making mortgage terms and products easy to understand. jen@explainingmortgages.com This article was posted on January 28, 2006 Read More Articles from the "Business and Finance" Category: Holiday Loan: Spend A Worry Free Leisure by Aldrich Chapple Business Center on the Internet by Michael Fleidervish What To Do If Your Business Loan IS Approved by Rebecca Game An Evaluation of the Devaluation by Sam Vaknin, Ph.D. Time Out by A. Raymond Randall, Jr. The Great Things About Reward Credit Cards by Michael Colucci How to Set Appointments by Jim Sinclair The Truth About 0% APR Credit Cards by Morgan Hamilton Vinyl Banners for the Right Occasion by Tony Nagy 5 Tips to Finding the Best Bad Credit Credit Card by Joshua Shapiro << Back to "Business And Finance" Index

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