Non-Conforming Mortgage Refinancing - Debt Consolidation, Non-conforming Loans, Bankruptcy, Short Term Loans

Non Conforming Mortgage Refinance		Case Study
Can't pass the standard lender's approval criteria? Do you have a poor credit history or a a short term employment history? You may be able to find the answer with non conforming mortgage refinancing: What is a non conforming mortgage? How does mortgage refinance work? Benefits of mortgage refinancing		John and Angela got into a financial mess after their son was diagnosed with a long term life threatening illness. John had to take extended leave from his job so he could travel to Melbourne for treatment for his son. As a result they got behind on most of their debts and bills and were at their wits end; they thought their only option was to sell their house before their creditors did. They had a number of judgements and even had a writ on their property.
What is a Non Conforming Mortgage? These are loans that do not conform to a standard lender's loan approval criteria. It generally means that the applicant meets one or more of the following:		Their minimum monthly repayments were $4035 - with one wage they were unable to pay this amount on a regular basis. A snapshot of their accounts revealed the following:
has a poor credit history has only a short time employment history is self employed has no tax return and financial statements, and/or is a non-resident. Anyone applying for this type of loan is categorized by lenders as a higher risk applicant and therefore the interest rate will be higher than for a standard home loan. The applicants should be aware that 1% or 2% higher interest rate could be applicable. Smart Link has been in the industry for the past 15 years. so save yourself hours of mortgage research by telling us what you're looking for - we may be able to assist with a non conforming mortgage refinance.
Refinancing your mortgage is a strategy that can give you access to a wider range of home loan features, including the ability to consolidate high interest rate debts (such as credit cards and personal loans) into your new home loan. This is usually a worthwhile option, as the interest rate on a home loan tends to be far lower than other forms of credit, which could be charging interest rates near 20%. Talk to us if you find yourself in one of the following situations: Self employed Irregular income Government Allowance Declined by another lender Pensioner No financials Behind on your mortgage Previously bankrupt Defaults or judgments Bailiff knocking on the door Harassing calls from creditors Return to Top		John and Angela contacted Smart Link after seeing us on the internet. With John now back at work and their son's illness was under control, we called all of their creditors, assuring them that we were acting on John and Angela's behalf. This action allowed us a month to sort out John and Angela's finances. We managed to get a non conforming mortgage refinance for them. The rate was higher than usual, as all of their payments were in arrears and there were judgements on their credit file. However, once we had the loan approved. we called all of their creditors and negotiated their debts down. We were able to save them $17,500 off their existing unsecured debts, with a refinance loan amount was $390,000. The mortgage refinance loan was over a 30 year term and consolidated all their debts into one convenient minimum monthly mortgage repayment of $2999; this was a considerable saving of $1036 per month. Life now couldn't be better - their son has made a full recovery and they are both working. They have cut up their credit cards and pay cash for every thing! Smart Link has relationships with a large variety of lenders who may be able to provide you with a mortgage refinance loan that will assist you..
How does mortgage refinance work?
A mortgage refinance is the process of applying for a new loan on your current property and using this new loan to pay out your current mortgage and any other debt you may have. Return to Top
What are the Benefits of Mortgage Refinancing? The benefits of mortgage refinancing may include: reducing your monthly repayments by extending the length of your mortgage a lower interest rate or more favorable terms than your current mortgage consolidating your credit card and personal loan debts into your mortgage to take advantage of the lower mortgage interest rate the ability to draw additional funds against your property for expenses of a personal nature you may not have to sell your property if you are in arrears it may allow you to purchase and investment property Return to Top
Smart Link Finance are specialists in this industry with over 15 years experience - act now - we are only a phone call away.