Compare Mortgage Quotes

tonypikkle · Joined: 21 Nov 2008 Posts: 1 1.34 Dollars($)

It all started when I got a new truck. At the time we could afford it, but a few month's ago everything went crazy.Now we are struggling to keep up! Actually we are falling behind.My home is worth about 150K. I owe about 60K. Iwould like to get rid of all the different payments and just have one.

smithsussane · Posted: Fri Nov 21, 2008 7:01 pm Post subject:

Hi tonypikkle!

Welcome to forums!

If you have been making payments till date properly, then I think there will not be any problem getting a refinance from your original lender. If the original lender does not offer you a refinance, then you can get a refinance from other lenders as well. It is not necessary to get the refinance done from your original lender. However, you should remember that the refinance will include the closing costs and the lenders will also do a credit check.

Feel free to ask if you have further queries.

Sussane

gmakerley · Posted: Sat Nov 22, 2008 5:42 am Post subject:

you'll need to provide a good, solid explanation for any delinquencies that may have occurred recently. yes, i believe you'd be a good candidate for refinance, at least based on the equity you've stated exists in your property. of course, compensating factors which can cause a lender to overlook some negatives are always helpful.

steve2 · Posted: Wed Nov 26, 2008 2:01 pm Post subject:

Make sure that if while refinancing to lower monthly obligations (i.e. debt consolidation with car loans, credit cards, etc.) you make some serious life changes to justify wrapping other debt into your home.

Based on equity, you would be a perfect candidate to consolidate debt and save money monthly. But, if you pay off credit cards and car loans with your mortgage, then you go out and buy a new car and run up your credit card balances again, you will be much worse off than you are now.

You have options, but act quickly before your credit suffers and your options disappear.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Can I refinance ?