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Can I Refinance My Mortgage?

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Icon Mini Profile mgd2





Joined: 25 May 2010

Posts: 1

1.37 Dollars($)
Post Posted: Tue May 25, 2010 10:44 am    Post subject: Can I Refinance My Mortgage?
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I currently own my condo in Branchburg NJ (actually bank owns it) but recently rented it out to a teacher so that I could move to Hoboken where there are more young white collar workers like me and where it is easier to commute to NYU where I will be persuing my masters starting this August (which my company is paying for). Can I refinance my mortgage to take advantage of the current low rates or must I be living at the property in order to refinance?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10460
Location: Nevada
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Post Posted: Tue May 25, 2010 11:17 pm    Post subject:
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Hi mgd,

You may be able to refinance the mortgage. You will have to contact your lender and apply for a refinance. The lender will go through the situation and let you know whether or not he will be able to get a refinance.

Thanks
mgd

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Post Posted: Wed May 26, 2010 4:20 am    Post subject: Refi
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Thanks for the info.
Icon Mini Profile rita2
rita2




Joined: 23 Apr 2010

Posts: 286

51.03 Dollars($)
Post Posted: Fri May 28, 2010 12:20 pm    Post subject:
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Hi,

You can re-finance the loan however, the lender needs to accept it. The lender will first go through your file and check the criteria to qualify for the re-finance and if you qualify they will allow the re-finance.
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