Am I able to refinance a second mortgage if I have poor credit?

Thats near impossible, this from a shop that offers cash refinances to borrowers who had or currently in foreclosure and as hard as that sounds its easier then obtaining a heloc or 2nd for poor credit borrowers.. the market as a whole doesnt have interest in offering helocs to poor score applicant, the logic being if you are having trouble making ontime payments or maintaining decent scores adding a 2nd loan to situation is akin to pouring Gas onto a fire. .. the best solution is raise your scores up.... wish i could i help..But anyone looking refinance and 90 days late or 120 days,, even 180 day late we can help.. if you can go full doc we bring you current info@saturnmortgage.comDont foget our stated income primary residence,, self employed .. program ... Info@saturnmortgage.com

Everyone's definition of "poor credit" is different and subjective.. this is why lenders use credit scores.. and you did not provide any.. The short answer is it's highly unlikely.. 2nd position loans carry a much greater risk for the lender and because of that, they require a much higher credit worthy applicant.. so refinancing a 2nd is not going to happen if your credit is now poor. You could do a cash out refinance, which would allow you to refinance your 1st and 2nd into one new first.. (assuming you had sufficient equity).. This can be achieved even if you have mediocre credit.. but again, we would need to know your credit scores, and look at your complete loan profile to advise you.. the best advise I can give you would be to contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893