Posted on: 13th Dec, 2008 05:59 am
I am at 7.25% in a thirty year fixed we are barly making ends meet...so we wanted to check to see if we could bring our rate down as for a lower payment that we could afford and the banks said no...my credit could use a little work but what the heck how are we suppose to do better if they won't help
Hi cjm!
Welcome to forums!
Did you ask the lender about refinancing? You can even try refinancing with other lenders as well. You should start some mortgage shopping and check out if you can get lower rates after refinancing. You can even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. Let's hope they will be able to help you.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Did you ask the lender about refinancing? You can even try refinancing with other lenders as well. You should start some mortgage shopping and check out if you can get lower rates after refinancing. You can even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. Let's hope they will be able to help you.
Feel free to ask if you have further queries.
Sussane
sussane..."the banks said no" pretty much tells us that the poster approached at least one lender to find out what the possibilities were.
cjm...by all means check out another lender or several other lenders to see if there's some possibility of your refinancing. your rate of 7.25% isn't all that high, but if you qualify, you may be able to reduce your rate to the mid-5's or so.
cjm...by all means check out another lender or several other lenders to see if there's some possibility of your refinancing. your rate of 7.25% isn't all that high, but if you qualify, you may be able to reduce your rate to the mid-5's or so.
