No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi - no solutions here, but looking for answers, too! :-) I have a 9+% loan on a property that is now State appraised 20K lower than what is owed on in. Comps in this area are about what we owe. Haven't tried a re-fi as debt ratio is out of wack, but getting a re-fi would help the debt ratio (be able to pay down the CCards.).
Ideas from anyone would be wonderful...
@tiff wrote:
Hi I'm trying to refi my home. In a 8% conventional loan. Great credit scores. The home is coming in 21,000 lower than what's needed to refi. I need to know my options. The loan isn't owed by fannie Mae or Freddie Mac. What are my options for refinancing without destroying my credit score. I can afford the payment, but I'm throwing away lots of money.
Who is the Investor of your mortgage?
look into HARP 2.0
for fannie mae owned properties.
any viable options if mortgage isn't backed by Freddie or Fannie?
@tiff wrote:
Hi I'm trying to refi my home. In a 8% conventional loan. Great credit scores. The home is coming in 21,000 lower than what's needed to refi. I need to know my options. The loan isn't owed by fannie Mae or Freddie Mac. What are my options for refinancing without destroying my credit score. I can afford the payment, but I'm throwing away lots of money.
What is the balance of your loan and the approximate current value of the property? Is it feasible to do a cash-in refi, in which you pay the $21,000 to bring down your loan balance to an 80% LTV ratio?
If you have a fairly large loan balance (e.g. $500,000), then if you were able to refi to a 4.5% loan, for example, you'd probably be able to recover that $21,000 in a few years. It would mean some short term pocketbook pain, but would pay off in the long run.