We have 38000 credit card debt and make my payments but usually are a few weeks late. I have a mortgage 110 owed a home equity which was used for remodling only balance 90000 my homes worth today 310000 interest rate is 6 percent on both loans my credit score is mid 700s.
I retired with a 40000 per year fixed income my wife has bad credit her score is 520 we wanted to refinance our mortgage and equity loan at 4 7/8 saving us over 700 per month giving us the ability to pay everything ontime problem is her credit is preventing us from refinancing and i dont make enough money in my name to get the loan myself.
Without the refi i can see us sinking into major problems any suggestions i know with the refi it can work i dont trust online companies ive only dealt with our mortgage broker who is a great friend and our local banks help
Can you suggest help for the problem above
The credit card payments being made a few weeks late is certainly not helping here. It is leaving you constantly delinquent and pounding your credit score.
I’m curious what your mortgage broker friend said when you approached him for a refi? Were you rejected, and if so, why?