Most people suffering from poor credit and mounting debt wouldn't think that getting another loan could actually help them get their finances back on track. If, however, you get the right kind of loan and use it to consolidate your debts, you can significantly improve your situation. Refinancing your home can be the key that helps you not only reduce your debt but improve your credit. If you've decided that it's time to take charge of your finances, talk to Downs Financial. We can help you secure your poor credit refinance so you can begin your journey back to financial health.
Even with Poor Credit, You Can Still Refinance Your Home!
Oftentimes, heavy debt can feel inescapable. If you can barely afford to make your minimum monthly payments because you're being charged such high interest rates, how can you be expected to ever make a dent in what you owe? If you have high debt and you're only paying your monthly minimum, it can take as much as thirty years to pay everything off, with you spending thousands extra on interest payments in the meantime.
This is where debt consolidation comes in. Depending on how much you owe, you can refinance your home for the amount you need to pay off all your miscellaneous bills and combine them into one low monthly payment. You can even refinance for a little extra and use the cash to make repairs and increase your home's value, or even to go back to school to gain skills for a better job. When you consolidate your debt, you rid yourself of exorbitant interest rates and eliminate the confusion and late fees that often result from dealing with many different bills each month.
If this sounds like a good deal to you, Downs Financial can help you make it a reality. While other lenders might reject your application outright due to poor credit, we're more than willing to work with every client, regardless of their credit score, to help them secure the loan they need. And unlike some lenders who claim to specialize in poor credit lending, we won't gouge you with outrageous fees or outrageously high interest rates.