Laura Gariepy – The News Desk

Divorce can be emotionally and financially traumatic, potentially generating debt as you and your spouse split income and assets. Taking out a loan to tackle some of that debt might seem like adding gasoline to the fire, especially if your income will be dramatically slashed once the divorce is final.But depending on your circumstances, taking out a divorce loan could be a good option for the next stage of your financial life. Here's a look at how a divorce loan can help or hurt your post-divorce finances.What Is a Divorce Loan?A divorce loan is a personal loan used for divorce-related expenses. Personal loans are unsecured loans that allow you to borrow a specific amount of money and pay it back, usually in monthly installments.Interest rates for personal loans are usually lower than rat...

If your credit score is lackluster, you may worry that it could prevent you from refinancing your mortgage. Luckily, a refinance can be difficult but not impossible. Here's what you need to know about how to refinance your mortgage with bad credit.Options for Refinancing Your Mortgage With Bad CreditMortgage lenders typically look for a credit score of at least 620 to refinance conventional loans, but standards are more flexible with government-sponsored mortgages.Here are some options to explore for refinancing with bad credit. Eligibility usually depends on who owns your mortgage and whether you meet the requirements.FHA Rate-and-Term RefinanceYou may be able to do a rate-and-term FHA refinance with a credit score of 500 to 580, but those loans can be hard to access. That's because you ...

Tag: Laura Gariepy

Should You Get a Divorce Loan? | Personal Loans and Advice

Can You Refinance a Mortgage With Bad Credit? | Mortgages and Advice