Posted on: 17th Feb, 2010 10:28 pm
i moved from the outskirts of phila, and now living in a ruler bradford county,we have a 5 year arm that will change in 2013, we thought it would be easy to refinance our loan, not so, our mortgage lender never gave us a heads up as to how hard it would be to refinance in a ruler area, we are now stuck. please help us get out of this loan, thank you randi
Randi, we have financed quite a few properties in PA. Not sure why your lender is telling you that getting a loan in a rural area would be a problem. As long as you have equity and can qualify for the new loan, it should be fine. The only other thing that could come into play is if you have a pre-payment penalty. So refinancing an ARM in PA should not be a problem.
thank you eric, no we don`t have a payment penalty. and at this point I don`t know how much equity we have. we are just not sure who too contact. we are in Bradford county PA, please if you know of anyone in our area that can help us that would be great. thank you Randi
What's the value of your home and how much do you currently owe? Who is the current servicer of your mortgage?
