Posted on: 09th May, 2010 11:44 am
can we refinane under loan modification prog?? we have not late on our mortgage pmts for last 2 yrs. me and my wife are on the loan. we both have jobs. my credit is poor but her is fair. i am with chase bank. can we apply same lender( chase) for refinance. currently our interest rate is 6%.
Welcome vhdewan,
You cannot refinance under the loan modification program. If you have equity in your property, then your wife can refinance the mortgage in her name as she has a good credit. After the refinance is done, you would get better terms and conditions to pay off the loan.
You cannot refinance under the loan modification program. If you have equity in your property, then your wife can refinance the mortgage in her name as she has a good credit. After the refinance is done, you would get better terms and conditions to pay off the loan.