Please becareful with subprime lenders and do your research. We almost lost our house 20 years ago, went through HUD to save it and then we were sold to a subprime lender. It has been a nightmare for 15 years!!! We paid off our house 7 1/2 months ago and we are still dealing with them as they have not released out lean yet. i finally had to get the state involved and am thinking about an attorney.
If you do go with one I wish you luck and some advice about keeping an eye on your credit reports, and the statements the mortage company sends you. I am sure there are some good ones out there, but for us it wan't a pleasant experience.
I found on our statements fee's that they never disclosed, fees for someone coming out to check our property, fees for late payments that they received on time, fees for attorneys that they could never explain why they had an attorney when we weren't late on payments. Credit reports were another thing. Phantom late payments, they would show we were paying on time then one month they would show us 3 months late, the next month on time, then they would pull out the 6 months late when we had paid on time for 5 years and more, then the next month we should we were current. Then they would change how they reproted the loan, conventional mortage to under a forebarance aggreement making partial payments. Never made partial payments to them. They were messing up our credit and I figure they were doing it so we could not refinance nor get any kind of credit.
The last few conversations I had with them were not pleasant as they couldn't tell me a date they sent my release of lein to the county, just that they sent it sometime.
I storngly suggest you wait until you scores and stay away from subprime lenders, but that is just my opinon.
On another note we did have a subprime lender for a car loan and they were wonderful to work with.
