Posted on: 27th Aug, 2007 03:19 pm
i call the lender and they do not want to hear anything about i am not late on my payment but i wil be soon since the rate become variable it is on sale for tow monts i do not know how to solve the problem
"i call the lender and they do not want to hear anything about i am not late on my payment"
You are not late on the payment that is the reason they won't listen to anything.
But why do you want to go for a deed in lieu. You tried refinancing?
The rate change hasn't occurred as yet. Before it changes why don't you refinance?
Miller
You are not late on the payment that is the reason they won't listen to anything.
But why do you want to go for a deed in lieu. You tried refinancing?
The rate change hasn't occurred as yet. Before it changes why don't you refinance?
Miller
Tell us more about your loan so that we can give you a better idea of the options which are open for you to explore before thinking about a deed in lieu.
You must know that choosing to give away the house through a dil is going to have a very bad impact on your credit profile and for this reason you need to look at other options right now.
You must know that choosing to give away the house through a dil is going to have a very bad impact on your credit profile and for this reason you need to look at other options right now.
Hi Agibanzueto,
In this situation, you can go for a refinance by taking a new loan before the interest rate on the present loan becomes variable. You need to shop around with lenders and find a refinance loan that will meet your condition.
In this situation, you can go for a refinance by taking a new loan before the interest rate on the present loan becomes variable. You need to shop around with lenders and find a refinance loan that will meet your condition.
Yes I would also say that you first look to refinance the mortgage if the rate on this present mortgage is going to change within a few months.
You should be looking at deed in lieu or a foreclosure as the very last option. Right now the loan is current so there should not be any problem in getting the mortgage refinanced.
You should be looking at deed in lieu or a foreclosure as the very last option. Right now the loan is current so there should not be any problem in getting the mortgage refinanced.
Do you have it listed for less than it is worth? Is someone trying to purchase it now? If you are going to refinance to a fixed rate the house needs to be listed at the true value.
