Posted on: 11th Apr, 2009 09:11 am
I currently have a home for sale and would like to re-finance as it has been listed for 6 months and I am paying over 6% interest. Why is it I cannot re-finance when I have credit score above 750 and am looking to lower my monthly payment?
hi kekstlou,
do you have equity in the property? lenders will refinance your property only if you have equity in it. moreover, the lender will check your income before approving the loan. if your financial situation is not good, then there are chances that your lender will not refinance it.
thanks
do you have equity in the property? lenders will refinance your property only if you have equity in it. moreover, the lender will check your income before approving the loan. if your financial situation is not good, then there are chances that your lender will not refinance it.
thanks