Posted: Thu Oct 23, 2008 8:20 am Post subject: need a loan that i can afford like 560 per with tax and insu
my sons home is thru country wide but and it is 1152 and my mother and father have helped me but there must be some
thing that he can afford, because we have a life
need to refinance, it is nice home and i hate to loose it he put
alot of money into it before he took out a loan--then everythin
ha s gone wrong---i hate to see gov take it
Have you spoken to the lender about the refinance option? If not, you can speak to the lender. I think the lender will agree to it if the mortgage is 7-12 months older.
The payment will be based on how much he owes not how much he can afford. If he cannot afford the payment and a refi into a new loan that he can afford is not possible then he will need to look at selling?
Good Luck
Brian _________________ Licensed Broker 50 states http://www.aimwithfocus.com
Need quick advise email or PM Glad to help
Posted: Sun Oct 26, 2008 8:53 am Post subject: How far behind is he on the loan?
Depending on how far he has fallen behind, there is an outside chance that he could refinance. It is a little difficult to make that assumption without knowing how bad things have become. Contacting the lender is a good option. _________________ Tim Marose
VP Residential Lending
Nationwide Mortgage Services
www.tmmortgagegroup.com
lecyoj
