Difference between bad credit mortgage and conventional mortgage.
most most important difference is the mortgage rate.you will pay higher mortgate rates than the conventional mortgage.in additon,there may also be more points or fees attached to the bad credit mortgage refinance.

How to get bad credit mortgage refinance.
1.seeking out a mortgage broker.some ortgage brokers will find the right mortgage loan for you.maybe you could ask your relatives or your friend to find a good mortgage broker.
2.find the broker with the least hidden fees.must to know how much closing costs, points, and brokerage fees for each lender.

NOTE IS VERY IMPORTANT
the broker offers the best interest rate may not actually deliver the best package overall.

3.be totally truthful about your financial situation. Even if you think it maybe disqualify you from getting a better deal,you also need to be truthful about your financial situation.the broker could get your credit report vrey earily.if you summit a dishonest report for your situation.you may get a higher that you can not afford.maybe you can not make the monthly payment on the time.at this situation,firstly you will be faced with foreclosure,secondly, you may be prosecuted by your lender since mortgage fraud.

How to Improve Bad Credit
You should make all your current debt payments on time,you’d better open a Emergency savings account,to pay the unexpected expenses, the other way is to Control credit card spending more and Down your Payment.This will make it easier to have the funds to make those payments on time!

Credit score Knowledge
The credit score is a number between 300 and 800.Knowing the credit score can help the application process go much smoother.
1.above 720:excellent credit.
2.between 620 and 720: good credit to qualify a borrower for a conventional loan.
3.less than 620: poor credit to have to go through sub-prime lenders.
you could obtain your credit scores and credit reports from the three major credit bureaus
www.annualcreditreport.com

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