You may be able to get bad credit refinancing even if you've had problems in the past such as bankruptcy, foreclosure or repossessions. Understand that if you do have a low credit score your options for lenders and refinancing programs are limited.

When you decide you are ready to buy a home you not only have to find a home that fits but a mortgage that fits you also. This could entail contacting several lenders and getting their mortgage loan requirements. If you are looking to refinance and your credit is not great, you need to concentrate on finding a mortgage broker. Mortgage brokers partner with lots of different lenders. They know how to find sub prime or bad credit mortgage lenders. They match up your credit information with the lenders requirements and find the best loan for you.

To find a mortgage broker you can either go online or check your local yellow pages. Both have access to many different types of loan programs. Applying online is usually the easiest and fastest but some people are still wary about transacting business online. It is true that you don't know who you are dealing with but online transactions are becoming the norm.

An online broker will look at your information, such as credit rating, income, debts, the proposed loan amount, and the amount of equity in your property, then do the initial search for matching mortgage lenders. Usually you can receive up to three or four quotes from lenders without having to leave your house.

Don't expect to get great rates if you have bad credit. It comes down to the amount of risk a lender is willing to take. Before you apply for a loan you need to make your credit report look as good as you can. Get a credit report to make sure all your information is correct. You can get a free report once a year from each credit reporting agency. You can also get a free report if you sign up for a credit monitoring service, which might be just what you need so you can keep an eye on your credit score. Pay your bills on time, pay off what bills you can. Make sure all your accounts are in good standing but don't close any of them.

Don't lose hope. As long as your credit rating is higher than 550, you should be able to find a lender willing to give you a secured loan. It might just take a little searching. It might take some time if you have to increase your credit score. Be patient and stick to your goals.