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So, the time has finally come where you have repaired your credit. Now, the most important thing to do is to get out of all of the obligations that you got yourself into when you had those credit problems. Namely, if you took on a bad credit mortgage, this is when you need to refinance it. A bad credit mortgage probably came with a high interest rate and poor loan terms. If you have repaired your credit and could now qualify for an ‘a paper' loan, get with a mortgage lender as soon as you can to lock in a lower rate and refinance.
For people who got into a bad credit mortgage but are now ready to get out, get ready for a new world of lending. You will see the difference in the response you receive when the lender sees a 700+ score. As opposed to when you got your bad credit mortgage, now, they will offer you even more money than you want. It is important to remember how you got back to a good position however, and not go crazy with this new found ability to borrow. Stay conservative in your refinance and you will never be faced with needing a bad credit mortgage again.