Question:

Can I do debt consolidation mortgage refinance if I have real bad credit?

Answer:

Yes, you can. You can do a debt consolidation mortgage refinance taking a second mortgage or a home equity loan that are capable of reducing your payments as well as help you pay off some of your debts in full.

Second mortgages and home equity lines of credit are often used for debt consolidation mortgage refinance. With these loans you are using your equity to pay for extra debt. It is not necessary to have a good credit score to go for a debt consolidation mortgage refinance. You wouldn't be in a position for debt consolidation if you had good credit in the first place.

Even if your credit is real bad, and you are offered very high rates on a second mortgage, try working with a professional debt consolidation company. They may be in a position to negotiate debt reduction with your creditors and choose the best debt consolidation mortgage refinance program for your remaining debt. All that, of course, they will do for a significant fee. However, if you are in a real need to get in control of your finances, some professional help will make the difference. Just avoid getting scammed when choosing a debt consolidation company.

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