Latest Posts
Home > Ask The Get Out of Debt Experts > Our Credit Sucks and We Can’t Refinance. What Can We Do? – Jim

Our Credit Sucks and We Can’t Refinance. What Can We Do? – Jim

“Dear Steve,

I am currently trying to refinance my home through my credit union. According to their appraiser, in the last year and a half, the value of my home has dropped $200,000.00. Our credit is in the 500-600 range so no bank will touch us and we now no even paycheck to paychecjk. My wife and I both work but we just can’t seem to catch up. We’re falling further and further behind. The credit union won’t modify the existing loan because they say they’re not a bank so they don’t have to. What would YOU do?


Dear Jim,

Have you considered handing the upside down house back to the bank, filing bankruptcy to discharge the debt they will come after you for, and renting?

During this time you could focus on rebuilding your credit preparing for a better financial future.

I strongly suggest you click here to find a local bankruptcy attorney and discuss your situation with them. This approach is the quickest way to get you back on your feet and financially safe.

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.