Refinance Information
I went into my local branch yesterday, and the mortgage specialist said Chase was the only institution that can work with Freddie Mac mortgages.
Of course he has a vested interest in telling me that, and it sounds fishy, especially because he said I would be charged US 4000, which sounds like a very typical refinance fee.
We put our house on the market a few months ago – no offers yet. We have since found a new house in another area (we have to move there for work). I would like to refinance our current house to lower the payments because paying two mortgages is not fun. Can I refi if our house is on the market? Any suggestion as to lenders who do this? We have excellent credit – just want to save some money during our transition until the current house sells. Thanks.
It doesn’t seem lower interest rates do the majority of people any good, as mortgages already greater than 90% of the appraised value can’t be refinanced (even if refinancing for the same amount!) How does this help people who’s home value has dropped with the market and are struggling to make payments on their high interest ARM? Would they rather these people foreclose or declare bankruptcy?
My credit has gone up so im going to refinance my house in about 2 or 3 months…I have about ,000 in a money market account…My question is does it make sense to take that ,000 and put it into my house when I refinance or is it not going to make a big difference in the payment? The house cost 0,000 I have two mortgages on the house that total ,000 a month and I am looking to lower my payment..
My husband & I purchased our condo with two loans from Bank of America: a 5/1 ARM @ 5.25% and a 2nd mortgage @ 6.75%. I would like to refinance our mortgages before the rates adjust. However, the value of our home has decreased over 0K. I have called Bank of America to get a loan modification and the woman I spoke to said we do not qualify. Is anybody else having this problem and how did you get a refinance?
I have two mortgages, 1 is a 30 year fixed at 6.5% and another at 8.5% interest only. If you combine the amount i owe on both with the market, my house is no longer worth as much as i owe. However if you look at them separately, my house is worth more. Should I refinance?
My sister is getting into serious trouble with her home and it may be foreclosed. She bought into one of those designer mortgages several years ago and now the interest rate is ridiculously high and her mortgage is double from what she started with. If I co-sign to help her refinance her home, she could get a significantly lower (more affordable) fixed interest rate. Should I co-sign for her?
What are the risks involved? How is co-signing for a house different than co-signing for a car? How does it affect my credit? How does it affect my future with home-buying? I don’t own a home yet, but what if my husband and I are ready to buy our first home in the next one to five years?
My partner and I are splitting up and she will be quit claiming the house to me. I would like to take her off the mortgage (there are 2 mortgages). Is re-financing my only option? What costs should I expect to pay for the quit claiming and the refinance (unless I can do this without refi)? I haven’t the first clue how to go about this.
I am looking for some personal experience from the first time buyer.
Where is the best place to get mortgages loan?
Is there a federal mortgage loan?
I am looking to buy in the next few months and I need some one to guide me on loan and everything about home buying for the first time.
Hi,
The 2-year ARM on my home mortgage (two mortgages) expires August 2008 (home purchased August 2006). However, I filed a Chapter 7 bankruptcy in 2007 (discharged in July 2007). Will I be able to refinance this year? I’ve heard that Ch. 7’s are different from Ch. 13’s in terms of the refinancing waiting time.