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briawnna17
Guest
0.10 Dollars($)
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Post subject: refinance with case out or home equity? |
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| My current mortgage was late one time in the last 12 months - due to only honest mistake - out of the state and just completely forgot. It is currently current. had some bad things yrs ago - have great income - steady and income from the property as it is a three family individual townhouse - i now rent two of the properties. An appraisal was done 2 weeks ago; it valued at $215,000 - I owe about $85,000. One lender said no to refinance with cash out due to the one late payment. Can I do a refi with cash out with another lender? home is in CT |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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it's very difficult to do so with that one late payment. automated underwriting is paramount in the industry and you'll get kicked back to an underwriter for manual underwriting. most underwriters today are terrified to make any "exceptional" moves, such as approving a loan for someone who was 30-days late in the last 12 months.
there are, undoubtedly, lenders who will take you on, but they're going to be the remnants of the sub-prime bunch. you won't want to go there. if you can wait until that late payment becomes 13 months ago, you'll have a better chance to obtain financing.
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George M. Akerley
Loan Consultant
860-221-5044 |
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anonymous123
Guest
0.10 Dollars($)
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Post subject: Foreclosure Prevention Plan |
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I found a new Obama Program that has been launched at foreclosurepreventionplan.com
Bad Credit ok
Hope this is helpful to somebody.
Free Grants And Loans… Bad Credit Ok! |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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sorry, people...anonymous has given us all bad information. this website is not sponsored by, nor administered by, nor have any relationship with (at all) the Obama administration.
it is simply a company that is taking advantage of the original plan and making money by consulting with folk. now, i'm not saying it is a scam, nor am i saying that it won't be worthwhile to check it out. i am saying that our poster here is incorrect, and that you ought to be wary if you decide to check it further.
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George M. Akerley
Loan Consultant
860-221-5044 |
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cgermaine
Guest
0.10 Dollars($)
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Post subject: fha streamline refinance |
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| a second name was added to deed after mortgage, can i still refinance in my name only? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3709
Location: Alaska
556.69 Dollars($)
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Hi cgermaine!
Welcome to forums!
You would still be able to refinance the mortgage in your name if you have the required credit score and income. You need to contact your lender and check out the terms and conditions of the loan. If you can afford it, you can go ahead with the deal.
Feel free to ask if you've further queries.
Sussane |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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Post subject: |
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cgermaine, whoever owns a home is going to have to be involved in a mortgage loan.
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George M. Akerley
Loan Consultant
860-221-5044 |
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Brad in Texas
Guest
0.10 Dollars($)
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Post subject: Consolidate first mortgage and home equity into single note |
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| I live in Texas and have been told that Texas law regarding home equity loans will not allow me to consolidate thru refinancing my first mortgage and home equity loan into a singe mortgage note. Is this true? |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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i know texas has some quirky laws as regards mortgages, and i believe that i've heard of what you mentioned, brad. contact a texas lender directly and you'll get the straight scoop.
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George M. Akerley
Loan Consultant
860-221-5044 |
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