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mgutierrez · Joined: 16 Nov 2009 Posts: 1 1.25 Dollars($)

I have a 367000conventional loan mortgage with payments of 4429 and pmi of 805. Bank of america says I cant refinance it is a fannie mae loan. Is this true

adonis · Posted: Tue Nov 17, 2009 12:39 am Post subject:

Hi mgutierrez,

Did Bank of America give you any reason as to why they won't refinance the loan? Lenders will refinance the mortgage if you've equity in the property. If you've equity in the property and still the lender is not ready to refinance, then you can contact other lenders to refinance the mortgage.

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