Question by Dessi Love: Does Refinancing the house or filing bankruptcy make your mortgage payment go up?
My dad just recently seen a 20,000 increase to the house mortgage
Answer by dave11
Im not sure on the bankruptcy part but in realation to refinancing ur mortgage it depends who u refinance with, ur father could have been paying a rate of 5.3 and re financed with another company whos rates are 5.6 this would lead to a rise in his monthly repayments, however i find often when u re finance ur mortage u often reduce the repayemnt rather then increase,
What do you think? Answer below!