Posted on: 17th Aug, 2010 04:48 pm
if you have a 10 or 15yr mortgage and a spouse is unemployeed can you do a mortgage buy down to help you keep your house and your credit in good standing.
Hi Loudawg,
Rather than going for a mortgage buy down, it would be better if you could contact your lender and apply for a loan modification. Though it'll lower your credit score by few points, it's an better option than mortgage buy down. You would be able to get an affordable interest rate and term for paying down the loan balance.
Thanks
Rather than going for a mortgage buy down, it would be better if you could contact your lender and apply for a loan modification. Though it'll lower your credit score by few points, it's an better option than mortgage buy down. You would be able to get an affordable interest rate and term for paying down the loan balance.
Thanks