The foreclosure rate on subprime loans are actually not as high as many report.

Be very clear about your reasons for refinancing in order not to make mistakes that could cost you more in the long term.
You found yourself running virtually your lender when you heard that you could get a refinance loan without closing costs.

A consumer with excellent credit will qualify for the low rate mortgage refinancing and the best but with a credit problem will pay a higher interest rate.

It is therefore essential to ensure that you can easily repay the loan before making any commitment.
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You may have checked your credit score and found that yours are lower than what most lenders want.