Posted on: 14th Jul, 2009 06:03 pm
i fell behind a few months, and got a loan mod. and now current on payments. now i am unable to get a refi, due to late payments and the 100k upside down. What is out there for help? any advise? help?
Thank you,
Steve
Thank you,
Steve
shobbs64
Welcoem to the forum
I think your only option is to talk to your bank and see of they can help you with one more modification
When was your first modification done
Good luck
Welcoem to the forum
I think your only option is to talk to your bank and see of they can help you with one more modification
When was your first modification done
Good luck
Hi Steve,
"i fell behind a few months, and got a loan mod. and now current on payments."
If your loan has been modified and you are current on your payments, why do you want to refinance? A refinance will involve certain amount of costs at the closing. Why don't you use that money to make some extra payments towards the principal and increase your equity in the property. With the late payments on your credit, you need to continue making payments for quite some time now to establish a good payment history. Unless you have a decent payment history, no lender would want you lend you money in this market.
"i fell behind a few months, and got a loan mod. and now current on payments."
If your loan has been modified and you are current on your payments, why do you want to refinance? A refinance will involve certain amount of costs at the closing. Why don't you use that money to make some extra payments towards the principal and increase your equity in the property. With the late payments on your credit, you need to continue making payments for quite some time now to establish a good payment history. Unless you have a decent payment history, no lender would want you lend you money in this market.