Hi orgits,
The lender will check your financial situation as well as your credit score before approving a refinance. Moreover, you will have to go for an appraisal of the property. This will decide whether the property has equity or not. If the property does not have equity, then it will be difficult for you to get a refinance. Apart from this, while refinancing the property, you will have to pay the closing costs as well.
To know more about refinance, check out the following link:
http://www.mortgagefit.com/refinance.html
Take care.
The lender will check your financial situation as well as your credit score before approving a refinance. Moreover, you will have to go for an appraisal of the property. This will decide whether the property has equity or not. If the property does not have equity, then it will be difficult for you to get a refinance. Apart from this, while refinancing the property, you will have to pay the closing costs as well.
To know more about refinance, check out the following link:
http://www.mortgagefit.com/refinance.html
Take care.