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russej1
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Posted: Wed Oct 14, 2009 5:29 am Post subject: refinance |
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| Is it true that your bank will notify you if you qualify for a refinance based on the new eligibility of owing up to 125%? Can I take my current loan to a different bank and see if they will refinance it for me? |
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chrisburns
 Community Experts

Joined: 13 Nov 2007
Posts: 372 Location: Florida
64.35 Dollars($)
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Posted: Wed Oct 14, 2009 6:30 am Post subject: |
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The bank will not notify you. You have to actively engage a mortgage professional so they can run you through the automated underwriting system and see if you qualify for the program. _________________ Chris Burns
Five Stars Mortgage, LLC
Office: 800-871-2636 ext. 200
Cell: 407-456-3697
Florida Mortgage
Five Stars Mortgage On Facebook |
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jveenstra
 Community Experts

Joined: 10 Nov 2008
Posts: 340 Location: River Edge, New Jersey
85.80 Dollars($)
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Posted: Wed Oct 14, 2009 8:59 am Post subject: Refinance |
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Many banks notify borrowers that they may be able to refinance. Some lenders just put a note on the monthly mortgage statement.
However, why wait. If you want to know if you can refinance, call the 800 customer service telephone number and ask them. _________________ John Veenstra
Senior Mortgage Consultant
Approved Funding Corp
41 Grand Avenue
River Edge, NJ 07661
800-475-0123 Ext 278
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gmakerley
 Community Mentor

Joined: 09 Nov 2007
Posts: 7448 Location: bloomfield, ct
70.12 Dollars($)
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Posted: Wed Oct 14, 2009 9:48 am Post subject: |
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correct...don't wait for your lender to tell you. do your own homework and call to check first. _________________ George M. Akerley
Loan Consultant
860-221-5044 |
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