Posted on: 27th Oct, 2009 12:19 pm
my husband has terrible credit. i would like to refinance to a lower rate. i am currently paying 9.75%. i was under and arms and took this loan in order to get a fixed rate. i was told i could refinance after a year and now they keep telling me no. i am paying 1306.00 a month. i applied for a hardship loan and was approved for 882.00 and now that has run out and they don't know if i qualify for another hardship. if i have to start paying 1306.00 again i will loose my home. insurance and taxes are not included. this is killing me. i would like to refinance in my name only. can you help me?
Hi reedstacy!
Welcome to forums!
If there is equity in the property and if you've a steady income and good credit score, you shouldn't face issues in refinancing the property. If your present lender is not ready to refinance the property, then you can contact other lenders and check out if they would refinance your loan. Shopping for mortgage will help you know the rates and terms of the loan available in the market.
You can even speak to the lenders of this community and seek a no obligation free mortgage quote from them. This will help you know the rates and terms you would get once you apply for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If there is equity in the property and if you've a steady income and good credit score, you shouldn't face issues in refinancing the property. If your present lender is not ready to refinance the property, then you can contact other lenders and check out if they would refinance your loan. Shopping for mortgage will help you know the rates and terms of the loan available in the market.
You can even speak to the lenders of this community and seek a no obligation free mortgage quote from them. This will help you know the rates and terms you would get once you apply for a loan.
Feel free to ask if you've further queries.
Sussane
Are you able to carry the mortgage payment as well as your monthly debts? Also, has the mortgage been on time for the last 12 months? Please let us know where the property is located and I'm sure someone will be able to point you in the right direction. I hope this helps...
>>I would like to refinance in my name only. Can you help me?
Sure, any Loan Officer can assist you with getting pre-approved. You may not qualify though, because two incomes were used for the original mortgage, but it doesn't hurt to find out.
Sure, any Loan Officer can assist you with getting pre-approved. You may not qualify though, because two incomes were used for the original mortgage, but it doesn't hurt to find out.
