Question by MDJLT: Can anyone recommend a mortgage company to refinance a mortgage that was in default but is current now?
I was in default on my mortgage and was just able to catch up and now it is current- would like to refinance and get a better rate to lower payments- it is interest only now…….any suggestions?
Answer by I’m My Son’s Mom
first, let me say—do not apply with these on-line offers (where people write in and say “call me—i can help you”)…they can’t…and if they can…they will only get you deeper….
Best advice is to go to your local banks…they are reputable, close, easy to work with and will not scam you with all kinds of loans.
Also keep in mind that today’s market is really bad…foreclosures everywhere everyday! So be savvy any DO NOT fall for those ARMs or any other fancy loans….stick with a traditional 30 year, fixed, no prepayment penalty loan.
you will be completely safe with a traditional loan.
Good luck and …stay away from the sharks.. 🙂
ps—glad to hear you got caught up!
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