Archive for April, 2010

Other than admitting to defaulting, what other ways can I work with my lender without looking at competitors?

Hi,
My husband and I bought our home 2 years ago on with an adjustable rate mortgage. The interest rate has now come up and we need to refinance.
The problem is that our credit score is about 600.
Can we get a refinance? Our home is worth about $240K, we have $25K in [...]

I bought my house in Feb 2006 for 450k. I have a 5 year fixed rate. I cant keep up with the payments because my husband job (tile industry) is extremely doing BAD. How much will my interest or payment go up in 5 years if I cant refinance? I have a [...]

I’m behind in my payments and not comfortable negotiating with the bank myself.

What if my loan is about to adjust and make my payments too high? Is that a financial hardship?
I have great credit, a job, perfect payment history on the loan. However, it’s about to adjust and I cannot refi because the value has dropped.

I have a 80-20 home mortgage, and I will loose my house to foreclosure soon. I can’t afford to pay the mortgage, with my current income and no plan to save it from foreclosure. My lender sold my 2nd mortgage(HELOC) to a debt collector, and now they harassing me, and threatening me to sue me. [...]

We are looking to purchase our first home in the Denver area in about a year. We both have bad/old credit(both of our credit scores are below 600) Our income will be around 75k(I am finshing up nursing shool)
We are trying to see if this is even possible or if we should just be [...]

I have a 250k 30 yrs fixed mortgage. The current interest rate is 6.375%.
I want to refinance my mortgage, here is the rate that they are offering.
5.125%, .250% points with no origination fee (P&I Payment $1,328)
or 4.875, .250% points with 1 % origination fee (P& I Payment $1,367)
or 4.750, 1.250% Points, with 1% origination [...]

Our current lender said in the State of Texas laws prevent us from refinancing our current mortgage until is has matured to one year. I cannot find this “law” and want to find out if anyone has any information on it. We purchased the home in Dec of 2007. Our current “Note” [...]

I come to you in search of an answer as my banker seems is being very vague and untimely in getting me answer to my questions. My wife and I recently locked in our 30 year mortgage rate of 6.025%. With the rates dropping lower and lower we asked our banker if we could refinance [...]


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This is about mortgage information questions.

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