Can Refinancing Your Mortgage
Work for You?
Let's see if refinancing your mortgage is a
way to go - Do you have at least 20% equity in your home?
- Is your debt to income ratio arount 35% (The hier your debt to income, the hier your payments will be)
- Mortgage refinance requiers a credit score of 6.5 and above.
Short Refinance
There is talk about short refinance. For this to happen,
your lender has to agree to accept a principal balance
reduction. Your refinance than will be based on the
current market value of your home. If you can get this done, congratulations! you are one of the few that qualify.
Your lender will rarely agree to a principle reduction however it does
hapen. You need an experienced teem of negotiators and a particular case the will fit in your lenders guidelines.
What if you can't refinance your mortgage? Your second and robbably best sulution to stopping foreclosure is
a Loan Modification. This may significantly reduce your mortgage
payments and even erase any past due payments you may have. Call me. I understand the current Foreclosure market. I have been in your
shoes. I will be able to tell you what you qualify for and remove your enxiety.
Return from refinancing your mortgage to foreclosure help
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