Posted on: 11th Aug, 2010 04:47 pm
we started a refinance and sent paperwork off (signed july 22). i did not make the august payment due to loss of job - one reason for refinance. but i got an email from our mortgage broker in which i was told the conditions of our hamp refinance was that the loan must be current for month due at time of payoff. she is urging me to make the aug payment.
Yes you have to pay. Right before you close on the new loan, they will get a payoff statement from your current lender to determine how much needs to be paid off during the refinance
Hi Guest!
Welcome to forums!
It is true that though you apply for a refinance, you'll have to be current on your mortgage payments. If you fail to pay the mortgage dues on time, the lender may not consider your request for refinance.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is true that though you apply for a refinance, you'll have to be current on your mortgage payments. If you fail to pay the mortgage dues on time, the lender may not consider your request for refinance.
Feel free to ask if you've further queries.
Sussane
