Keep in mind that some lenders offer to release your cosigner from liability once you have established a positive payment track record with your bad credit loan. (badcreditloanservices.com)
Lenders also charge more to offset risk when low credit scores suggest a borrower has a less - than - perfect payment track records. (americanbanker.com)
Your current mortgage must be in good standing with a positive payment track record. (chattelmortgage.net)