i have bad credit and need to refi

an fha streamlined refinance should allow you to accomplish your goals. i'm not sure why they would refuse you simply because your mortgage was a taylor bean mortgage. i think if you inquire on this site they will direct you to someone that can help you with your refinance :)

B of A said it was something to do with their portfolio??? Whatever that means?

jeez. Seriously you just need to inquire so a professional can get you help. It should not be difficult. These people not financing Taylor Beans loans are just rediculous. They are basically affraid that your information was fraudulent or somehow tainted and don't want to do a streamlined because they are not going to actually verify your information themselves. I suppose that is how they are rationalizing not doing that loan.

Other banks will do it for you.

if you're right about bofa's motivation (or lack thereof) in this situation, chris, then that's pretty scary. honestly, it seems pretty far-fetched that an fha loan would be originated, underwritten and closed in such a fashion that a streamline refinance would be hazardous, but i guess this is the way of the mortgage world now.

i concur that fbjclark simply needs to approach a different lender to seek the streamline.

i just got of the phone with another loan officer at the B of A who told me a different story than the first the new one told me that we would have to do an appraisal and this is still for a streamline and come up with about $3200 at closing and our payment would only be reduced by less than a hundred dollars and that the reason why the other loan officer said he could not help was he maybe realised he got his figures wrong and that was his only way out, i did not think that you had to get an appraisal if you were only going to refi the same amount as you borrowed last time i also asked if we could go 40yrs instead of 30 but neither one really gave me an answer for that all the new loan officer wanted me to do was get an appraisal so the amount would be higher than what we have already no money back which is fine but have to bring about 3200 at closing for a reduced saving on monthly payment of 95.00 so i soend 3200 to save 95!!!!! How does that make sense!! Does anyone know which companies can actually help me i keep emailing putting in info but getting no help

fbjclark, you haven't mentioned what interest rate you have at present, but it must not be terribly much higher than what you can get with a streamline. i say that based on the $92 you would save monthly. essentially, if you were to choose to do what they've proposed for you, it would take about 3 years for you to make back the outlay of $3200. after that, however, you'd have pure savings each month.

i understand that's not so alluring now, but check your rate now and the new rate being offered and compare. that's the key to the whole thing. an appraisal ought not to enter into this discussion, though.

Yes I'd be curious to know the details at this point. What interest rate do you have?

What interest rate are you being quoted?

now its 6.875%

I cannot find who will help with a streamline can you recommend anyone

If you fill this form out: http://www.mortgagefit.com/quote/

Someone with real experience will be able to follow up with you and help you. Rates are much lower than that today so you would obviously benefit from a refinance.

still have found nobody to help and I filled out mortgage fit quote form and did not get one reply.

Want to streamline lower monthly payment we have bad credit and it is a manufactured house (which is real property)

Please can somebody help This is from fbjclark but it will not let me post a reply with that name

Have you chekc with any of yoru loacl lenders in your area

You need to pursue in all direction to until you find the right lender

what state are you in?

We are in Nevada

Check with some of the lenders on thsi forum

Try your post here

http://www.mortgagefit.com/lenders-community/index.html

i have worked with chris burns and he is right, he can help you.