i need help with refinancing my mortgage if not i will lose my house?

mortgage refinancing
by justin

Question by bluntchick14: i need help with refinancing my mortgage if not i will lose my house?

Best answer:

Answer by HW Leads
Sometimes there are other things you can do to stop foreclosure. visit smartmoneysteps.com There is alot of information on that website about preventing foreclosure

What do you think? Answer below!

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5 Responses to i need help with refinancing my mortgage if not i will lose my house?

  1. chatsplas@sbcglobal.net says:

    TALK to your lender and find out all your options. Doesn’t matter what the reason you want out, no legal excuses, but you can explain situation to lender and ask your options. They include short sale, with lender approval, deed in lieu of foreclosure, loan modification (unlikely with little or no equity), foreclosure. New law might provide a little help. Talk to more than one person at lender and check out possibilities.

  2. David S says:

    The first thing you should do is contact your lender and see if they participate in the H.O.P.E. program. It is a specialized program for customers that look as if they may go in to f/c.
    Also try an FHA refinance. FHA is a little more lenient if you have any blemishes on your credit and most lenders will allow a credit score of 580 and some even lower than that.

  3. open4one says:

    The FIRST STEP you should take is to call your current lender.

    You want to ask for “Loss Mitigation” or “Retention”, what they call the people you want varies by company.

    Explain to them your situation, and ask them what they can do. The answer will probably surprise you.

    The fact is that if you can solve your problem with a refinance that will cost you a few thousand in closing fees, they can probably give you the same terms without any closing fees at all, and would prefer to do so than to Foreclose or have you refinance with someone else.

    Even though it won’t be required, I would strongly suggest you hire an attorney to go over the documents just to be sure you understand them correctly, nothing is hidden, and that it is all done properly.

  4. godged says:

    Start a dialogue with your lender, perhaps they will consider a loan modification. They don’t want your house, and they don’t want to deal with a short sale.

  5. Tom B says:

    If you need help you need to tell us why. There are a couple of ways you can get help but refinancing isnt always the best choice. Send me an email and let me know your situation and I will help you

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