penfed refinance

[josie]

What is my mom chances to refinance with penfed? TU 677  1 30 day late 07/08, 1 60 day late 12/11, 1 90 day late 10/10 charge off 2008 paid 05/10 EQ 672  1 60 day late 07/08, 1 30 day late collection in 2008 paid 03/10. Any help will be greatful.

[Barris]

To be honest, there is very little chance of that happening. PenFed is a very consevative llender and has some pretty inflexible credit requirements. They require a near perfect payment history of about 2-4 years, especially on account of any current auto loans. Moreover, they also need a pretty low CU, something well below 30 percent, especially if your mother is looking for the 1.99 percent/60 months refi deal.