| Author |
Message |
lunchlady
Guest
0.10 Dollars($)
|
Post subject: combining 1st & 2nd mortgages |
|
|
| We are wanting to combine our first and second mortgages with rates of 6.25% & 11.5% into one loan and lower the term to 15 years. Our home value is 355,000.00 and both loans would be around 334,000.00. do you think it's possible? |
|
 |
zoey
Guest
0.10 Dollars($)
|
|
Post subject: lowering my fha loan |
|
|
Hello,
I have a fha loan with a balance left of $54,000 interest rate 7.5%. I've had this loan for 11 years, when i didn't have any credit history. My credit score now is rated excellent, and I want to refinance. So what should I do? I live in an area where there where hit by foreclosers, and it drove my home value down to around $45,000. Should I go fha streamline? or are there any other measures I can take to lower my interest rate, without having to refinance and add to the balance? I'm trying to achieve lower monthly payments. please advise? |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
|
|
Post subject: |
|
|
Hi!
Welcome to forums!
To lunchlady,
Lenders will want you to have at least 20% equity in the property in order to refinance your mortgage. I would suggest you to contact your lender and apply for a refinance. The lender will go through the details and let you know whether or not you would be able to go ahead with refinancing.
To zoey,
I appreciate the fact that you have a good credit score. However, you should keep in mind that if you don't have equity in your property, you won't be able to refinance the mortgage.
Feel free to ask if you've further queries.
Sussane |
|
|
cichlid man
Guest
0.10 Dollars($)
|
|
Post subject: Removing my father from a home loan |
|
|
| I would like my dad to co-sign for my home loan. My question is how do I get him off the loan once I have bought my home. Should I transfer the mortgage, refinance...I'm not sure????? Thanks for any input. |
|
|
adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
|
|
|
elva lee gibbs
Guest
0.10 Dollars($)
|
|
Post subject: refinanced pmts vs. orginal |
|
|
| refinanced with credit union today and closing cost almost doubled from est. cost.. payments only decreased by 117.00 mo. should i go thru with loan amt. from org 97.340. to new loan of 102,000.00? |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
|
|
Post subject: |
|
|
Hi elva,
You should refinance your mortgage only when you get an interest rate which is 2% lower than your present rate. Also, you should plan to stay in the property for quite a longer period of time around 7-10 years. This will help you in offsetting the closing costs. If you plan to stay in the property for a longer period of time, then you can go ahead for a refinance.
Thanks |
|
|
B. Reese
Guest
0.10 Dollars($)
|
|
Post subject: loan |
|
|
| My daughter has been trying for months to get a loan on manufactured home remodified. She is a mother of two children, ages 8 and 12. She works full time job & has no other help. The loan company kept telling her it looked good that the remodification would go through, then today they call her & tell her that by the end of June, they will push foreclosure. This is after they had prolonged this process for months. She had her hopes for being able to keep her home & reducing her payment monthly so she could survive. Do you have any suggestions, she works hard & wants to pay her own way but with recent life changing happenings beyond her control she needs help. |
|
|
dwtlrt
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| do you do home equitly loans? |
|
|
adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
|
|
|
mil
Guest
0.10 Dollars($)
|
|
Post subject: refinance |
|
|
| We are 57 & 59. In 2003 custom built single family home $230,000, we owe $180,000, starting to pay on principal now. 30 yr fixed at 6.25%. Excellent credit. 15 yr. Home Equity for $20,000 at 7%. (still mad about that) Paying everthing just fine. My husband thinks we should refi and lower the monthly payment. He thinks he won't be around & we will not pay off the mortgage anyway so we should refi so we can free up $$. If we refi'd for 15 yrs & took the money we saved and payed on the mortgage, that might interest me. I have no intentions of leaving & I can still afford to stay there with the life insurance & investments. I don't want to make a bad financial decision. What is your opinon. |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
|
|
|
tport
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| I have this sister and her husband took her name off the house loan to refiance the house is there something else up his sleeve for doing this? |
|
|
Powers
Guest
0.10 Dollars($)
|
|
Post subject: refi |
|
|
I purchased my home in 2002. I refinanced in 2007 and then 2008. I am at 6%. My payment would go down $200 with closing costs wrapped into the loan. Is it not a good idea to refi since I am never working towards paying off the 30 yr mortgage? I plan on staying the home for a long time.
What do you recommend? Keep it at 6% and finally start paying more than interest?
Thanks
Jane |
|
|
Howie
Guest
0.10 Dollars($)
|
|
Post subject: Refinance to pay off 2nd mortgage |
|
|
I currently have a home valued at $220,000. I am upside down on the house with a mortgage of $208,000 (6.5%) and a 2nd mortgage of $39,000 (8%).
I have a investment property valued at $120,000 and a mortgage of $32,000 (5.875%).
I am thinking of refinancing the investment property, borrowing enough to pay off the second mortgage on our home.
What do you think? |
|
|
Previous 1, 2, 3, ... 19, 20, 21, ... 34, 35, 36 Next 
