Posted on: 20th Nov, 2012 11:07 pm
hi there… i need help. i purchased a home in 2005 which was valued at $116k. my lender was wf. but the employment situations forced a few late payments. situation was such that we had to file chapter 7 and it got discharged in 2008. we did not reaffirm the mortgage. now the property is underwater. with the above situation, should we even consider trying to approach wf and ask to try to refinance the home to hopefully attain lower monthly payments? or, should we just leave it alone?
Hi Jonty,
You have mentioned that you haven't reaffirmed the loan. In such a situation, the lender will not consider a refinancing for you as you're not personally liable for the loan payments.
Thanks
Jerry
You have mentioned that you haven't reaffirmed the loan. In such a situation, the lender will not consider a refinancing for you as you're not personally liable for the loan payments.
Thanks
Jerry
Hi Jonty!
Welcome to forums!
You may contact your lender and apply for Home Affordable Refinance Program (HARP). But as you haven't reaffirmed the loan, things may be difficult for you.
Wish you a very happy Thanksgiving!! :)
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may contact your lender and apply for Home Affordable Refinance Program (HARP). But as you haven't reaffirmed the loan, things may be difficult for you.
Wish you a very happy Thanksgiving!! :)
Feel free to ask if you've further queries.
Sussane