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jscanes1 · Joined: 13 Nov 2009 Posts: 1 1.29 Dollars($)

ineed my home refinance,can you all help me. my lenders said they can't lower my interest and if they lower my mortgage,it wouldn't help because all the money will go to the interest. my home value is less than the loan as a year ago, i don't know about now. i need help.

Guest

What's the mortgage balance, the interest rate, the type of mortgage (ARM, fixed, FHA, VA) and who's the servicer (i.e. who do you pay?). Have you ever been late on mortgage payments? Do you know your credit score? Do you have collections, judgements, or liens on the property other than the mortgage? Have you had a job for at least a year?

Dan Stephens
Mortgage Banker

smithsussane · Posted: Sun Nov 15, 2009 10:08 pm Post subject:

Hi jscanes!

Welcome to forums!

The lenders won't refinance the loan if you do not have equity in it. If you are unable to pay of the loan, you should apply for a loan modification with your lender. This will help you in saving your property and would make it affordable for you to pay off the loan.

Sussane

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