Due to recent changes in the sub-prime market traditional lenders like FHA and Fannie Mae Community Lending have loosened their guidelines allowing more people with lower credit scores the ability to refinance their current mortgages for lower rates.
The great news is that the guidelines don’t go off of credit score or the fact that they've had a discharged bankruptcy. They are looking to see how well a person has paid their bankruptcy and mortgage payments over the last two years. These programs give people the second chance they need to lower their monthly payment and maybe even get cash out for certain instances. If you are one of these people or know someone who may fir this description, give us a call!
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