A: That depends on how bad your credit is and other factors. The FHA will allow you to refinance with a credit score as low as 580, and an equity position as small as 3.5 percent of the value of the home. So is it possible? Yes. Will it be difficult if your credit is poor? Yes.
Credit life insurance is sold to homeowners as a means to pay off the mortgage in the event of the death of the homeowner.
Read MoreSome homeowners will pay this 3.8 percent tax when they sell their homes, but only if they meet certain conditions.
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