Michelle asked:
We do not quality for refinancing due to the bad economy casing a strain on home values. We are current on our payments and have good credit and are wondering what the best ways are to negotiate with our lender. We also currently pay PMI and are wondering if there are other ways to get rid of this without refinancing.
Melanie
We do not quality for refinancing due to the bad economy casing a strain on home values. We are current on our payments and have good credit and are wondering what the best ways are to negotiate with our lender. We also currently pay PMI and are wondering if there are other ways to get rid of this without refinancing.
Melanie
Joe
The rates are already climbing and you need to judge whether there is any true savings between your current rate and a new rate. Closing costs eat up the 1% difference. PMI insurance, the only way to eliminate that is come up with 20% cash so your mortgage is 80% or less.
Comment by sassy2 — August 5, 2010 @ 8:51 pm
Jill
We recently asked about refi at our bank & the lender said it would be in our best interest to do a modification. We paid 1 1/2 points up front & it lowered our payment by 110.00 a month. In a modify there are no closing costs etc. Good luck
Comment by whiteshepherddogs — August 8, 2010 @ 9:29 pm
Nathaniel
Mortgage rate is very high… that was a common problem but now new mortgage rate is very low that one can get home loan or home equity loan easily. For this purpose you must have perfect know how and discussion with your loan adviser and can minimize your mortgage rate.
Comment by Greenfin — August 10, 2010 @ 9:58 pm