How to Refinance Out of Foreclosure

May 25th, 2023

Refinancing out of Foreclosure with BlueHub SUN

BlueHub SUN can help homeowners refinance out of foreclosure. With the rise in home values over the last few years, many homeowners who are behind on their payments now have substantial equity to leverage. And a growing number of them are turning to our fixed-rate refinance product to save their home – and the equity they’ve built.

Unlike our buy-back product, which we offer homeowners who are underwater on their mortgage, our refinance product is for homeowners with equity. To qualify, homeowners must:

  • Still be in their home
  • Have a stable income, like a job, Social Security, a pension or disability payments,
  • Live in: Connecticut, Delaware, Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Rhode Island or Wisconsin

How it works

BlueHub SUN offers homeowners in foreclosure the option to pay off their mortgage loan with a new mortgage.

The difference between our refinance product and those offered by typical lenders comes with our terms. Our interest rates are fixed and usually slightly higher than conventional market refinance rates. This is because regular mortgage lenders usually require better credit than SUN clients have. All of our refinance applications are manually underwritten, and we require no credit score, no down payment and no application fee.

Terms of our refinance product

  • Fixed-rate mortgage
  • Minimum loan amount: $40,000
  • Maximum loan amount: 75% of appraised property value
  • Maximum debt-to-income ratios: 38% / 48%
  • 1- to 4-unit owner-occupied properties

Please contact us if you would like a flyer showing our interest rates and the annual percentage rates in the states we serve.