Question by moiramee1: Can our mortgage company take away our mortgage?
We are thinking of refinancing our mortgage. But our income and credit is A LOT worse than when we were originally loaned the money 3 years ago. Can the mortgage company now penalize us on our current mortgage/decide not to lend us money based on our greater risk?
Answer by Kamal
I am assuming that you are not late on your payments. Most likely, the bank will not approve your application to refinance, but your present mortgage they cannot touch, or change interest rates or anything like that.
Know better? Leave your own answer in the comments!