Refinance Questions
If you're thinking about refinancing your mortgage and you DON'T have questions, you're either a veteran lending officer or you're simply nuts.
The refinance biz is extremely complicated... Not only are there dozens of technical terms like PMI, points, and APR that you need to fully understand, but even those definitions could change from lender to lender. Not to mention, the laws in your state or country can create significant problems or advantages to your particular situation.
The bottom line is that you've got refinance questions. We'll try to answer them here, from this page, and keep you up to date with the latest news about refinancing that concerns you.
July 12th, 2009 by Unregistered User
My situation is this. We owe more than our home is worth and we are having a difficult time making payments. We want to refinance but need to know how being upside down would affect our decision.
Is it wise to stop making payments and let the bank restructure our loan?
Do we have to go that [...]
Read the rest »
June 14th, 2009 by Unregistered User
I owe more on my home than it is worth. I’m struggling to pay my monthly payments but I am not late yet. My question is that how can the new bill help me?
I’m trying to find out what the first step is and if my lender will be willing. My understanding of the [...]
Read the rest »
June 14th, 2009 by Unregistered User
I have 2 1/2 years worth of property tax to pay. Needless to say that I cannot pay it especially right now that my finances is not in great shape. I called my lender and they first talked to me about loan modification. I am willing to do a loan modification but it’s still too [...]
Read the rest »
June 14th, 2009 by admin
The upside down mortgage problem is a big problem right now but you could have avoided it if you knew how it worked. However, most people do not take the time to find out before they go house shopping. Here is a book called “Understanding Mortgages: A Beginners Guide to Mortgages and Refinancing for the [...]
Read the rest »
June 13th, 2009 by admin
The good news for homeowners with upside down mortgages or people who are behind on their mortgages and cannot afford to pay them is that there is the Mortgage Forgiveness Debt Relief Act. Your debt can be canceled by the mortgage companies and the Mortgage Forgiveness Debt Relief Act will help you. First, let us [...]
Read the rest »
Tags: bank foreclosing, bank restructure loan, can we just walk away, cannot afford to make payments, cannot make mortgage payments, difficulty making payments, good credit, hard times, having difficult time making payments, just walk away, let the bank take home, mortgage payments, never been late, owe more than home worth, restructure, stop making payments, upside down, upside down and refinancing, upside down and restructuing, want refinance