Posted on: 27th Sep, 2010 07:41 pm
I am paying 9% and have been since the early 90's when arm's were capping at 11%.It actually was a good move at the time.In retrospect,i should have left alone,but everyones crystal ball predicted that a adj loan was going to be over 10% for quite a while.
I never changed over,borrowed on the house,and the longer it went on it did not make sense to re-fi as the spread was barely 1-1/2 points.
Now here I am stuck with 9% and don't qualify to mod,refi,at least with the stricktness of the new requirments.
The property has at least doubled in value,but Equity is worthless in any streamline loans I have seen.
10 years left on original loan.Should i simply stay put or does anyone know of a streamline or stated income loan that takes equity ino consideration as much as credit and provable income.THANK YOU.
I never changed over,borrowed on the house,and the longer it went on it did not make sense to re-fi as the spread was barely 1-1/2 points.
Now here I am stuck with 9% and don't qualify to mod,refi,at least with the stricktness of the new requirments.
The property has at least doubled in value,but Equity is worthless in any streamline loans I have seen.
10 years left on original loan.Should i simply stay put or does anyone know of a streamline or stated income loan that takes equity ino consideration as much as credit and provable income.THANK YOU.