Posted on: 07th Apr, 2009 05:45 am
i currently have heloc at 13.99% for 25 years. i'm currently in year 7 owing 28k of a 37k loan. i was discharged from a ch. 13 a year ago (thanks to my ex-wife getting me in the mess in the first place) but have my life on track and my credit score is: (high 670, mid 640 and low 628). i'm having a hard time trying to find someone to refinance my heloc. i can refinance both my primary at 6% and my heloc but the goal is to lower by principal balance in order to sell my house and buy another one sometime next year while the interest rates are still low. currently my ltv is 90%. some of the lenders are saying fannie mae is requiring 2 years from the discharge of bankruptcy. i'm panicking because i just want to refinance this loan and quit throwing money into interest.
regards,
kurt
regards,
kurt
You can get HELOC reference by you agent , friend or any faithful relative.
HELOC ( home equity line of credit ). Don't sell your home @ low interest rate.
If would you like to refinance this loan & quite throwing money in to interest you may as with more happens in finance. If you would like to refinance it can certainly make sense, but i will charge to you for refinance a mortgage. It also depends on your specific condition. But the refinance is really quit to costing you more money instead of saving money.
Thanks,
John Cena
HELOC ( home equity line of credit ). Don't sell your home @ low interest rate.
If would you like to refinance this loan & quite throwing money in to interest you may as with more happens in finance. If you would like to refinance it can certainly make sense, but i will charge to you for refinance a mortgage. It also depends on your specific condition. But the refinance is really quit to costing you more money instead of saving money.
Thanks,
John Cena
You can refinance the loan after 1 year of bankruptcy but you may have trouble finding a lender. Apart from this, as your loan to value ratio is high, so the lenders may not be ready to refinance it.
