How to Refinance With Bad Credit to Stop Foreclosure

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Bad credit can be worked around to prevent foreclosure by pledging valuable assets as collateral against future loans and by having someone else co-sign on a loan. Refinance to avoid a foreclosure with information from a financial manager and currency trader in this free video on finance.

Part of the Video Series: Credit Reports & Credit Scores
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Video Transcript

I'm Roger Groh. We're here today to talk about how you can get credit, even if you have a bad credit history or have been foreclosed upon. Well, one of the easiest ways to do that, is to use assets that have gone up significantly in value. And then pledge those assets as collateral against future loans that you might get. Another way to do it, would be to have somebody co-sign a loan with you. A friend, a family member perhaps. And, where they're also partially, fully guaranteeing the notes that you borrow and the money that you borrow in the future. Those are two easy ways to go about doing it. Last but not least, there are government programs that can help you. Where the government will come in and partially guarantee a loan that will enable you to get credit again and will enable and if you do it right, and you make your payments on time, then up the road, your credit history will look clean and you'll then be in good standing with the banks and they'll make you loans at significantly lower rates of interest then you had in the past. I'm Roger Groh, and that's how you refinance and get credit, even if you have bad credit history.

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