Posted on: 21st Feb, 2009 06:27 am
i have a mortgage with indy mac. i tried to get a loan modification but was denied because insufficent income. i am married but my husband had a judgement on him and he could not be on the mortgage. however they had no problem giving me the mortgage even though they knew my salary was not enough. i was given a plan where i made two payment and then theywould finalize the modification. when i went to make the second payment they said that i was denied the modification, as i said because of insufficent income. my husband is now off his judgement and i would like to refi, my credit score has dropped because of the failed modification it show 2 late payment and know because they only made me pay the payment plan i am two months behind in mortage payment. can i try to refinance and add my husband on now. his score is about 630.or if he tries to get a mortage him self do we have to make a down payment eventhough i own the house
thanks gail
thanks gail
Hi gail,
As you are already late on your mortgage payments, I doubt if the lender would be ready to refinance the property. I would still suggest you to speak to the lender once and check if he agrees to refinancing or not. If your husband tries to get a mortgage on his own, he will still have to give a certain amount as down payment.
Take Care.
As you are already late on your mortgage payments, I doubt if the lender would be ready to refinance the property. I would still suggest you to speak to the lender once and check if he agrees to refinancing or not. If your husband tries to get a mortgage on his own, he will still have to give a certain amount as down payment.
Take Care.
by all means, speak with your mortgage lender again, and advise them of your husband's availability as a borrower. they may be able to assist you. there isn't a lender in this country that desires to foreclose rather than to have a loan be repaid as originally scheduled.
