Posted on: 19th Oct, 2009 05:06 pm
is there help out there for a refinance on primary residence,i now have a 7.15% fix for 5 yrs with bank of america,after numerous attempts to get rate lower and fix,i am currently late 30 day and struggling to make the payment,my wife is on furlough and the list goes on and on
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[size=9:81590bf03f][color=red:81590bf03f][e-mail address deleted as per forum rules. thanks.][/color:81590bf03f][/size:81590bf03f]
Hi jerrdhugg!
Welcome to forums!
As you are presently late on your payments, it will not be possible for you to get a refinance. However, you can definitely apply for a loan modification. If the lender accepts your request, then your interest rate would be reduced so that you can afford paying your mortgage dues. However, the loan term may get increased.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you are presently late on your payments, it will not be possible for you to get a refinance. However, you can definitely apply for a loan modification. If the lender accepts your request, then your interest rate would be reduced so that you can afford paying your mortgage dues. However, the loan term may get increased.
Feel free to ask if you've further queries.
Sussane
I was given a loan modification back in April and my water main broke and had to tap into my funds to fix at home,now i am late 1 month do you think they will help.
Hi Guest,
What kind of a help do you want from your lender? You have already received a loan modification and have also defaulted on it. You will have to pay off the dues to the lender or else the lender may foreclose the property.
Thanks
What kind of a help do you want from your lender? You have already received a loan modification and have also defaulted on it. You will have to pay off the dues to the lender or else the lender may foreclose the property.
Thanks