How long you plan to keep your home affect whether refinance loans are best for you.

If you have been rejected for a loan during the foreclosure process, even before the notice of default has been recorded, it is usually because you have more than 90 to 120 days late or your credit score is lower 500, or both.

- Think about what type of interest rate is offered, either fixed or adjustable.

Suppose also that your payment is fixed at that rate for 12 months and the worst case is that your payment can increase from 7.5% of the amount of your payment.

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One of the first questions the lender may ask why you're interested in refinancing. Be honest with the lender because it can help him design a whole house that perfectly suits your needs refinancing.

There are many companies out there that can help you with a mortgage refinance.