Question by PB: refinancing mortgage?
i live in MA, bought our house 3.5 years ago. I really need to refinance to save some money and put it towards bills and credit card debt. problem is, we were an FHA loan, and now since the crash, the standards have risen for a refi or even a new mortgage, and our credit has gone down a little, but our debt is now too high…
does anyone know of any programs, companies or banks in MA that will refinance you with very little money down, and possibly if youre credit is questionable???
Answer by chatsplas
Go to current mortgage lender and ask about Making Home Affordable programs
Pay down that debt; rebuild your credit rating; STOP using credit cards. . . . .the days of 0% down and poor credit getting a home loan are gone, with the Crash. . . . . .
Get the Dave Ramsay books/tapes on personal money management, eliminating debt from bookstore or library and take control of your finances
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Careful, there are scams out there.
I see them in my mail. Such as pay $ 2,400 and we guarantee that we will re-finance you
Call your mortgage comopany.
The new regulations require a mortgage company to re-finance you if you qualify
If you don’t qualify – no one can help you
If you liked your Loan Officer you used when you bought, call her/him & see what you can do. You may be surprised to find you can refinance. Doesn’t cost anything to make a phone call.
PrimeLending received an exception from investors, which allows me to offer FHA mortgages for credit 600+. I am a nationwide lender. 30 day closings available. Excellent rates, low fees. Close on time.
Sr. Loan Officer
PrimeLending, A PlainsCapital Company