i need to refinance my home quickly and am willing to take an arm or a balloon mortgage. the home is assessed at $240000 and the mortgage amount is now at around $125000. i make $56000 a year and due to some major setbacks my credit score is horrible.
If your property is in foreclosure, it means that you have defaulted on your mortgage payments. Unless you bring the loan current and have equity in the property, lenders will not be ready to refinance the loan.
