Refi out of subprime? - Posted by Lori
Posted by Lori on March 05, 2007 at 06:50:50:
Long story short my loan was sold transferred whatever to a company that is shady (along the lines of Fairbanks/Litton/EMC). My problem isn’t with the payments and in fact I have since decided to double up on them i.e. one regular monthly and second to be applied to principle. Seeing how this company has severely damaged my credit, it there any way to refi without using a credit score? No matter what I do this company will continue to report deliquent. Don’t ask, long story.
Second question invloves the double monthly payment. If I make out two seperate checks (one for monthly and second soley towards principle) every month, would I be able to refi with another lender in a year despite them still reporting deliquent? I could even go as far as to double the amount sent in for principle if it will help me in the long run.
The reason I ask this is because I’m trying to pay down the principle and have enough equity as collateral to refi. Right now they are hitting me for miscellaneous bs fees and then tacking it on the principle amount (roughly a couple k a month). Any help or suggestions would great be appreciately!!