Posted on: 27th Jul, 2010 07:46 am
my wife and i purchased a home one year ago with a promissory note/mortgage with a private investor. we were not eligible for a fha loan due to a foreclosure within 3 years. feb 2011 will clear the three years and we want to get a mortgage through a mortgage lender an out of the private investor's hands. will it be considered a refinance or a new mortgage?
REFINANCE.