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Help with Mortgage Payments

image alt text Team
UpdatedApr 12, 2007
Key Takeaways:
  • If you have equity in your home, you may be able to refinance with poor credit
  • It can't hurt to apply
If I can't refinance because of poor credit, what other options do I have to lower my mortgage payments?

I really don't know how to ask this. I need help on my mortgage. I will be 62 years old next month. I had to file bankruptcy last year. I can't refinance because of credit and no income. Please help if you can.

Credit rating is one factor in making a loan decision. Given your bankruptcy, which is most likely reported on your credit report, it will be more challenging to get approved for a loan, since your credit rating will be low. Additionally, if you are seeking a refinance loan, your debt to income ratio will be considered as well as other variables in the loan underwriting process.

Keep in mind, however, that if you have accumulated equity or have a sizable down payment, that could provide the cushion in an LTV (loan-to-value) calculation to get you approved. Most of all, it cannot hurt to apply and see what lenders think of your situation. makes it easy to compare mortgage offers and different loan types. Please visit the loan page and find a loan that meets your needs.

I hope that this helps you make the right decision for your particular situation, but be sure to shop around and find a loan that meets your needs.

If you would like more information, please visit our mortgage resource page.

I hope this information helps you Find. Learn & Save.