Posted on: 23rd Feb, 2010 07:11 pm
trying to find lenders that will refinance one of my two houses. since i own two homes, no lender will discuss refinacing only one of them. one of the houses already has a great interest rate,but the other does not. credit score not a problem,nor is the income. they just have a problem with me owning two houses.
Hi tbone,
Due to the real estate crisis, present lenders are not ready to give loans to people for a second property when they already have a mortgage on their first home. That's the reason why lenders are not ready to refinance your second loan. Thus, there are high chances that you won't get a lender to refinance the loan for your second property.
Take care.
Due to the real estate crisis, present lenders are not ready to give loans to people for a second property when they already have a mortgage on their first home. That's the reason why lenders are not ready to refinance your second loan. Thus, there are high chances that you won't get a lender to refinance the loan for your second property.
Take care.
That's nuts!! Keep searching! As long as your DTI is ok, you shouldn't have a problem finding a lender to refinance only one home.
