Question by SAMUEL P: Bank of America won’t refinance our house although we have a first and second mortgage with them now.?
Our property is a unique home, made of steel with a metal roof, finished out normally inside with 2×4 walls, etc on 10 acres, but because there are no homes similar in the area that have sold in the last 6 months, they won’t refinance. It appraised for $ 200,000. We’re only asking for $ 116,000? What has changed ? They have our 1st and 2nd now. They say it has nothing to do with our credit rating, it’s fine.
Answer by Kyription
Welcome to recession! Sorry to say, but real estate has practically kicked the bucket, and barely anyone can re-finance anymore.
Welcome to the new America!
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