Home arrow Mortgage Forums arrow Loan Talk for First Time Home Buyers arrow

need to refinance APR mortgage with a fixed mortgage

Author Message
Icon Mini Profile bryline





Joined: 26 Sep 2009

Posts: 1

1.32 Dollars($)
Post Posted: Sat Sep 26, 2009 4:11 pm    Post subject: need to refinance APR mortgage with a fixed mortgage
Like 0
Dislike 0

Our home is worth less than we owe on our mortgage.
Orig mort bal : 228,000
Home value: est 165,000
The APR will peak in 2010. We are current at this time with no late payments.
Can we refinance? Credit is fair- good.
Icon Mini Profile sunnyca2009





Joined: 04 Aug 2009

Posts: 1731

35.55 Dollars($)
Post Posted: Sat Sep 26, 2009 5:01 pm    Post subject:
Like 0
Dislike 0

Sine you do nto have equity int eh house it will be difficult to refiancne

You can still try to see if you can go for loan modification, but that may be difficult but worth the try

Also it does nto look like the rates will go up dramatically and probably till end of next year
Icon Mini Profile greggwyburn





Joined: 13 Sep 2009

Posts: 60

0.00 Dollars($)
Post Posted: Sat Sep 26, 2009 11:48 pm    Post subject:
Like 0
Dislike 0

you can get at the max 200K as mortgage.

i suggest to speak with current lender. & try to get some relief
Icon Mini Profile frankmcdowell2000





Joined: 07 Sep 2009

Posts: 57

0.00 Dollars($)
Post Posted: Sun Sep 27, 2009 3:04 am    Post subject:
Like 0
Dislike 0

Why are you saying that it will be in peak in 2010. What is your credit Score?
Icon Mini Profile annyb27





Joined: 07 Jul 2009

Posts: 144

-1.08 Dollars($)
Post Posted: Sun Sep 27, 2009 9:42 am    Post subject:
Like 0
Dislike 0

i think for your reqirement you have to forst speak with your current lender. That will definately help you a lot.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.156 seconds.