ust because you have poor credit doesn’t mean you can’t refinance your home mortgage loan. According to loan officer, Brendon Daly, refinancing your home or adding a second mortgage loan can help your credit rebound significantly, and will often increase your credit scores with timely payments.

Even with bad credit, as a homeowner, you have several options available to you through the subprime (also known as non-prime) mortgage market including:

* Cash Out Refinance or debt consolidation loan to help you rebuild your credit and raise your low credit scores by consolidating your 1st and 2nd mortgage loans, and using the extra cash from your home equity to wipe out compounding credit card interest and consolidate your debts.
* Refinancing your variable interest rate first mortgage, second mortgage or home equity line of credit (HELOC) into a fixed interest rate loan which can save you thousands as interest rates continue to climb.

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