| Author |
Message |
gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
|
Post subject: |
|
|
to anyone who decides to cast his lot with aaron kinkoff, i say this: be very wary of what you're doing and make sure you read every word and have someone you trust implicitly review it all with you - preferably your own lawyer. there are too many modification scams out there not to be cautious.
this is nothing against you, aaron - i don't know anything about you. that's what makes me say what i say - my lack of knowledge of you.
_________________
George M. Akerley
Mortgage Underwriter/Consultant
Word of Excellence- Writing/Editing/Proofreading
860-221-5044
|
|
 |
cecilpj
Joined: 11 Apr 2010
Posts: 1
1.18 Dollars($)
|
|
Post subject: refinancing a mortgage |
|
|
| My credit record is below 620, can I qualify for refinancing in other bank? I applied but the bank said I don't qualify. The reason that I applied, I can hardly pay the high monthly amortazation due to my present financial condition. Is modification possible? Is the processing faster? What are the requirements? Is a short sale a good alternative? What are the advantages? |
|
|
Kathleen Arredondo
Guest
0.10 Dollars($)
|
|
Post subject: Refinance My current Loan |
|
|
| I have a current loan w American Home Mortgage at 8% ARM and am wanting to refinance it immediately. I am on unemployment and cannot afford it going up and down constantly. My house is at zipcode 76301 for $80,000, I have had it for approx 4 years and y balance is like $78,000. I really want to do the Obama refinance but don't know where to turn? Doesnt he have something for people on nemployment with houses? |
|
|
Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
|
|
Post subject: |
|
|
To Cecil,
With a credit score of 620, it will be difficult for you to qualify for a loan. Moreover, if the lender is not convinced about your financial situation, then he won't be ready to give you a refinance. It's better to apply for a loan modification with your lender. This will help you in saving the property and you will also get an affordable payment plan to pay off the loan.
If you want to get rid of the property, then you can apply for a short sale. Your credit score would get reduced by 80-100 points and you would be liable for the deficient amount resulting from the sale of the property.
To Kathleen,
After the extension of the Obama's loan modification plan, even unemployed borrowers will be able to get temporary help from the lenders. You will have to contact your lender and check out whether or not he is participating in the program. If he does so, then you can apply for the help.
_________________
Good is the Enemy of Great. |
|
|
Yes
Guest
0.10 Dollars($)
|
|
Post subject: To Kathleen Arredondo |
|
|
| Call their Home Ownership preservation office, 800-505-3706 |
|
|
rreznikoff
Guest
0.10 Dollars($)
|
|
Post subject: "Too good to be true!" |
|
|
| Wells Fargo holds the mortgage to my home. They have offered to refinance my mortgage at a rate a quarter of a percentage point below my present rate. I have a 30 year mortgage fixed rate at 5.625% and the refi will also be a 30yr fixed rate. My current mortgage has 25 years to maturity. I have a loan balance of 185,799.21 on my home which has a marketable value of $305,000. I have made all payments on time and will have no problem in continuing to do so. The bank has also offered to pay all closing costs on the new refinance. Why, and is there any downside? |
|
|
Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
|
|
Post subject: |
|
|
| Rates are going quite low and thus it is good time to refinance the mortgage. While you refinance your mortgage, your lender would be giving you the required documents. You should check the documents properly and be sure about the terms and conditions of the loan. Make sure to ask questions to the lender if you've any doubt. All these will make sure that there won't be any problems with your refinance. |
|
|
homerefinance
Guest
0.10 Dollars($)
|
|
Post subject: Important question about refinancing |
|
|
Hello Jessica,
Currently my mother has about 2 liens on the house because of debts accrued by my stepfather but she co-signed on all of the credit to begin with so she is a part of it too. My stepfather has since willingly been deported to Africa and we want to refinance the house but the liens don't allow us to do so, there is 225,000 equity in the house, is there any way around this so that we can pay the debtors and lower her APR? It's currently at 9%? I need your help desperately
P.S. We do have a power of attorney and are currently working toward issuing my stepfather a conveyance of the deed to remove his name from the deed, But I would really like to know is: What are our options? |
|
|
adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
|
|
Post subject: |
|
|
Welcome Guest,
Unless you pay off the lien, you won't be able to refinance the mortgage. As far as I know, the lenders will not be able to give you a second mortgage based on the equity of your property if your mother does not pay off the lien.
_________________
Procrastination is the enemy of your financial success |
|
|
smalls
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| my boyfriend and I are breaking up and I want my name off the loan, if i refinance to do this, what does he have to prove for this to work, i.e. income, credit, etc.? |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
|
|
Post subject: |
|
|
Hi Guest,
If you want to remove your name from the mortgage, then your boyfriend will have to refinance the loan in his name. In order to do so, he should have a stable income and good credit score. Also, the property should have equity.
Thanks |
|
|
Moha
Guest
0.10 Dollars($)
|
|
Post subject: Impotant subject |
|
|
I see an impotant subject
here
h t t p : //2010refinancingmortgage.blogspot.com/
how about this? |
|
|
help
Guest
0.10 Dollars($)
|
|
Post subject: refinance with low income |
|
|
| I was wondering if it is possible to refinance a rental property when your income is already being used up by your home mortgage. My husbands income is just enough to pay the mortgage on our house do to the economy this year and I am a student without an income. My townhouse that we are currently renting out has a 7-year interest only loan that is about to expire and we were wanting to refinance the townhouse before that time. Is this possible? |
|
|
help
Guest
0.10 Dollars($)
|
|
Post subject: refinance with low income |
|
|
| I was wondering if it is possible to refinance a rental property when your income is already being used up by your home mortgage. My husbands income is just enough to pay the mortgage on our house do to the economy this year and I am a student without an income. My townhouse that we are currently renting out has a 7-year interest only loan that is about to expire and we were wanting to refinance the townhouse before that time. Is this possible? |
|
|
help
Guest
0.10 Dollars($)
|
|
Post subject: refinance with low income |
|
|
| I was wondering if it is possible to refinance a rental property when your income is already being used up by your home mortgage. My husbands income is just enough to pay the mortgage on our house do to the economy this year and I am a student without an income. My townhouse that we are currently renting out has a 7-year interest only loan that is about to expire and we were wanting to refinance the townhouse before that time. Is this possible? |
|
|
Previous 1, 2, 3, ... 18, 19, 20, ... 34, 35, 36 Next 
