Open Question: I need to refinance my house. Are rates going up or down??

Last year, I was compelled to agree to an interest only equity home loan. I paid cash for my home 2 years prior, and owned the home without mortgage of any type. Now, I am paying off an "interest only" loan payment for 30 or more years, with out even touching any of the principle.
I have been getting dozens of calls from "RE-FI" who are dying to jump on board, but for the life of me, can't see where they make the money on such a poor loan structure.
I have no income but a small investment dividend, coming to an end and lots of equity in property, both personal and real. ReFi companies offer me lower monthly payments and other services to get me on board. Are they just happy to take on the interest only account? Or, is there something else I don't know about.

Open Question: Uncontested divorce. Does a quit claim make home separate property or is it still considered community?

I am divorcing after 17 years. We purchased 2 homes together (one in VT (1993) & 1 in CA (2006). Currently neither can refinance the others name off the loan but want to divide the property ourselves (he receiving the VT property and furnishings and I CA)We're willing to quit claim off each of these titles.

Big question is...can these homes & their furnishings now be listed as our separate property or are they still considered community? ***We are trying to avoid the court dividing the property/value which-if we have to refinance-may force us to sell***

Open Question: I need to refinance my house. Are rates going up or down??

I can see that rates have gone up a little. What are they suppose to do? Should I consider a 5/1 arm, whatever that is?
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Voting Question: Has anyone else had problems with Countrywide Mortgage company being sneaky and dishonest?

Will the monthly payment be lower? Our fico scores are excellent.
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Resolved Question: NINA or SISA Jumbo Cash-out Refi at <60% LTV with 680+ credit score?

I'm currently building a house that will cost as much as $700k and should be valued at 1.2 Million. One construction is completed I need to refinance out of the construction only loan, but I would also like to cash out to replace the money that I had to inject in to the project to get it off the ground. Are there any Jumbo Cash-out refi programs that will work with me at a 56%LTV? Perhaps a SISA would be okay as well as a NINA. Any ideas on rate, in this market? I'm in PA.

Resolved Question: I need to Refinance my mortgage?

Every one I have checked with tells me my debt to income ratio is to high. I have perfect credit, my score is 720. I don't understand They can see I have always made my payments on time. The only reason I need to refi is that my arm just reset to 11.69% If I don't get it refinanced I will have problems. Does anyone have any tips on what I can do?

Voting Question: Has anyone else had problems with Countrywide Mortgage company being sneaky and dishonest?

I have a mortage with them, and I got a very good deal on my house. I went to refinance after a year to get a better interest rate and they had snuck into the contract that if I tried to refinance before a two year timeframe that I'd have to pay this HUGE early termination fee. (25,000!!) Is that legal? I was never told that at closing, now I have to wait until November to try to refinance this home or pay through the nose. Needless to say that it will be a cold day in Hell before I ever refinance with Countrywide. They're a bunch of lying, cheating buttheads!!!

Open Question: Can anyone tell me if its true that you cant refinance a house while it is listed for sale.?

Right now our rate is 6.375. Time to refinance or hold out longer?
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Open Question: Can I get an car loan?

I am an international student on F1 visa. When I applied for a car loan, i got rejected due to the reason that I am not a US citizen or permanant resident. i got the financing from dealer but at a high rate. So do any one know an option so that I can refinance it. I ahev good credit score (750)

Open Question: How do I refinance my house without a credit score?

I have excellent credit and zero debt. My house is paid for, debt free, and I do not have any outstanding debt. I have had loans in the past, but I've paid them off. Therefore, I do not have a credit score. I want to tap into the equity on my house and take out a second mortgage on my home, but the bank says that I do not have a credit score. Does anyone have any ideas on how I can get a competitive rate with no score?

Resolved Question: If I bought my house when I was single, does my husband have to co-sign if I refinance?

I bought my house and paid off for it before I got married. I want to use some of the equity in it to pay off personal debt. Does my husband have to co-sign on this loan? If so, will it now give him some ownership of my house?

Open Question: Can anyone tell me if its true that you cant refinance a house while it is listed for sale.?

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Open Question: Refinancing help?

Our property is a unique home, made of steel with a metal roof, finished out normally inside with 2x4 walls, etc on 10 acres, but because there are no homes similar in the area that have sold in the last 6 months, they won't refinance. It appraised for $200,000. We're only asking for $116,000? What has changed ? They have our 1st and 2nd now. They say it has nothing to do with our credit rating, it's fine.

Open Question: Can anyone tell me where to get help with my adjustable rate mortgage?

I have been in bankruptcy for one year and I need to refinance my home.Please if anyone knows the answer to my situation I am open for the solution.
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Open Question: What other alternatives does the IRS offer to losing your home through a lien sale, such as refinancing, etc?

What other relief alternatives does the IRS offer outside of seizure of an individual's home?
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Open Question: Got into a bad loan in 2005 - Negative arm loan for $500,000.?

Since the negative accumulated. We refinance to get out of the loan 4 months ago. @e got into a 80/20 interest only loan. Making our payments now has been very hard. $4,300 a month and have used up our savings and are now borrowing to make it. We are trying to not default but feel we have no other options. We are also going thru a divorce due to the stress and hardship this has placed us on. The loan is only on my husbands name. He will not be able to make the payment once I move out. What are our options.

Open Question: Refinancing help?

Okay so, my credit score is over 620 but, I have some old collections that are "supposed" to fall off in the next few months. In todays mortgage loan world, shouldn't I be able to qualify for some sort of loan?

Resolved Question: Refinancing a car loan for a larger amount and recieve some cash back?

I purchased home in July. I am self employed and had to go stated because not enough income. I purchased home for $119,000.00 and I want to know if I can get a better rate than the current rate of 6.875%. i don't have alot of cash to do this with but my current income claimed is $28,000.00 for the year. I have great credit and I want to know if it is worth it or not? Thanks I am not committing fraud, I am self employed therefore they go by your bottom line after deductions, this year my bottom line was higher that's all.I can afford my payments easily i just wanted to save, doesn't everyone? Oh ya, and my payment is only $1100.oo a month, it is the only bill i have other than utilities. The payment includes taxes and insurance.

Resolved Question: Good Home Appraiser?

Is anyone or does anyone know of a good home appraiser in the Milwaukee/Waukesha Wisconsin area?

I'm looking for an appraiser who can help me get the value I need to refinance my home. That's strange Mary since my mortgage broker told me to find an appraiser that he can contact! I'm looking for the name of an appraiser
that someone in my area may have used or knows someone who may have used.

If you know of someone or if you are an appraiser great.

If you don't know of anyone, please don't answer!

Thanks! People. I don't need hostility nor am I trying to commit fraud. I'm looking for an honest appraisal on my home!

I have spoken with at least 6 mortgage brokers and/or lenders in the last 3 months who are from out of state and every one of them has asked me if I know of any or if I have a friend in my area that does appraisals? And to give
them their name and they (the broker or lender) will contact the appraiser and order the appraisal.

Resolved Question: Refinancing a car loan for a larger amount and recieve some cash back?

I have car loan with $3,000 left to pay on an 00' Mitsubishi Eclipse, the Blue book value is around $8,000. I would like to refinance and recieve around $2,000 in cash making me owe $5,000 on my car. Is it possible to do this? Why would I want to do that? I only take out 2 year loans, and they get paid off early. So in reality I dont pay much interest. I'm not stupid, those last few answers are spam. I would never get a loan online.

Resolved Question: We would like to refinance our mortgage. Right now we have an interest only...?

My dad died almost 5 years ago. A month before he died my dad somehow, from his death bed, refinanced the house and put my brother on as a joint tenant. (We found out later that my brother was supplying alcohol to my dad who was a recovering alcoholic for 17 years) If that wasn't bad enough, when they refi-ed, they only cashed out a small sum of equity and left $100,000 in equity, my brother said that was so his payments would stay low and in a couple of years after he has fixed his credit, he would re-fi again and split the money with the other 3 kids. It has been almost 5 years, and I think that is plenty of time to get your credit in order, and I want my money, or I want him OUT of my dad's house.

Is there a statute of limitations on when you can file for probate. My dad didn't have a will.

Open Question: Refinance without paying a PMI?

I have an FHA loan and I want to refiniance while the rates are low. However I'd like to aviod a PMI payment like I already pay, is there a good option here or am I stuck?
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Open Question: what would be a better move?

I want to purchase a house and my credit score is only 606 the house i want to purchase is $108000 I have saved about $12K this year towards a down payment. I make about $60,000 dollars a year my and have very little debt. I havent had a bad mark on my credit in almost 4 years mostly because i pay cash for most things now after learning my lesson with credit early. I only have 2 credit cards with 1K limits and small balances. Would it be better to take the 12k and spend it paying off 4 old accounts about $3500 on my credit report and trying to raise my score to get a better intrest rate, currently I only qualify for 7.25% Or buy the house and take the hit on the interest hoping my score will rise enough in 2 years to refinance then. Right now the payments would be about $985 a month which I could pay fairly easy.

Resolved Question: We would like to refinance our mortgage. Right now we have an interest only...?

loan. We would like to get on a 30 yr. fixed. Our problem is that our house would appraise about 60k less than what we owe. Are there loans out there that would help people like us who need to refinance under these conditions without charging us an arm and a leg in "costs"?

Open Question: Can the finance company refinance my car without my consent?

I bought a car 3 years ago and it was in my fathers name but I make the payments ( I lost my job before I could even make thefirst payment). My credit score isn't the greatest but it's getting better, I was wondering if I should refinance it under my name by putting a large payment down and then pay it off sooner...or would these hurt my credit score?

Open Question: Refinance..what documents are needed?

To get a refinance done what documents are required?
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Open Question: when do you get back the down payment for the house?

At first we got a loan for no money down, we found a house got the inspection and everything done, all of a sudden the loan lady call and said that the bank need us to put down payment of 5% and they will return some of it in a couple months. I feel like that lady is tricking us because from what I heard, you cannot get the down payment back until you refinance.

Open Question: I already tried refinancing it but i can't cuz i still owe more than what its worth.what can i do?

i have a 12% interest i have a 12% interest on my car. I don't think trading it in will be the best solution because my payments will go up.
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Open Question: Can the finance company refinance my car without my consent?

I found out the car had been refinanced when I went to get a new car. I brought the car through drive time and they are the ones who financed me. I have received no corrrespondence from them saying the car was refinanced either.

Open Question: How can a vendor report you on something after you paid them off?

HI! I've always heard not to refinance your home unless it's one full percentage point difference...is that correct? I want to refinance about 75,000 - my original fixed rate is 6.75% (for 30 years), the bank is offering me 5.85% for 20 years....is it worth it? Would greatly appreciate all feedback. Thanks a million!

Open Question: Mortgage refinancing.?

My credit the past few years improved. Doubled my income by graduating nursing school, have a small inheritance with which I have cleared up ALL old debt and am adding on to my house.

I was stuck with $300/month PMI when I bought the place. I have 36% EQUITY in the house and am paying cash for a $25,000 addition..

As of this moment, I have no other debt. I have not been late in 13 months. In the past two years, I was 60-90 days late most of the first part and then when my mom died I was sidetracked and went a few days over -- triggering the 'start' of foreclosure. Literally, my payment was in the mail when they officially started the paperwork.

So far I've only checked with my current company, they say they'd love to refinance but Fannie Mae won't approve it. I have to be 2 years outside forclosure.

Any suggestions? I've worked so hard I shouldn't have to suck up this PMI another 10 months, there's so much I want to do to make this house a home. Can I CALL Fannie Mae? Thanks, yes I tried that by the form on their webpage and they you can't be 60 days late within 2 years ... refused on that basis.

I think maybe I just need to find a real person to talk to, someone with the company must be able to help.

Open Question: How can a vendor report you on something after you paid them off?

I had a medical bill I paid in full in December. When I refinanced my house this month, I found out they reported me to the credit bureau in January. How can they do that when I didnt owe them anymore money?

Open Question: Is this possible?

I purchased my condo in November of 2007 using a fixed-rate 30-year loan and didn't pay any points. I am planning to refinance into a 7/1 ARM in April and have been told that the one-year tax deductibility of the point I plan to pay is a grey area. While points paid during a first refinance are usually only tax deductible only over the life of the loan, because I recently purchased and didn't pay points, the points may be deductible this time. Can anyone provide clarity?

Open Question: how soon after purchasing a home can we refinance for a lower % rate?

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Open Question: Is there a website that lets you type in all your mortgage info without having someone calling you at home?

I wanna look at all my refinancing options without having someone calling me and trying to make a quick buck for themselves.I wanna be able to type in all my options and have the computer "spit out" my best options.Kinda like a "self-help" website,something like that.Is there such a site?

Open Question: Is this possible?

Three years ago i got a cash out refinance to pay bad credit cards, and medical bills. I got 62k for all of this. In exchanged i got a arm and this last year it adjusted to 14%. i am stuck i tried to refinance and found out that i am upside down by 70k. I took it to my relitor that sold my house and he discovered they inflated the appraisal by 50k and showed my income as double. He refered me to a lawer, this lawer looked at it and said there is a good case. My lawyer has been working on this for a few weeks, he called me tonight with some good news. He had a confrense call with the mortgage companies executives/lawyers today and they agreed to refinance the home on todays appraised value, the diffrence i am upside down they are going to eat the diffrence. I am supppose to go see my lawyer tommrow on this. Anyone ever hear of this.

Open Question: Does anyone know a lender who REFINANCES autos with +100K miles. Most lenders "stop at 80K." HELP!?

Three years ago I got a cash out refinance to pay bad credit cards, and medical bills. I got 62k for all of this. In exchanged I got a arm and this last year it adjusted to 14%. I am stuck I tried to refinance and found out that I am upside down by 70k. I took it to my realtor that sold my house and he discovered they inflated the appraisal by 50k and showed my income as double. He referred me to a lawyer, this lawyer looked at it and said there is a good case. My lawyer has been working on this for a few weeks, he called me tonight with some good news. He had a conference call with the mortgage companies executives/lawyers today and they agreed to refinance the home on today’s appraised value, the difference I am upside down they are going to eat the difference. I am suppose to go see my lawyer tomorrow on this. Anyone ever hear of this. i owe 300k and the home is worth 210k now the company is going to eat the 90k, plus pay for all closing fees. ect.my payment will be much smaller

Open Question: whats wrong with refinancing thru a pmi?

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Open Question: refi in chapter 13 bankrupcy?

does any know of a lender that will help you refinance if you filed a chapter13 less than a year ago?
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Resolved Question: Can I get an car loan?

I am an international student on F1 visa. When I applied for a car loan, i got rejected due to the reason that I am not a US citizen or permanant resident. i got the financing from dealer but at a high rate. So do any one know an option so that I can refinance it. I ahev good credit score (750)

Open Question: Do you think that is a good time to refinance my house?

Our interest rate is 6% for 30yrs fixed. In Chicago, ill which bank that you know have the best rate?
Thanks. We have 3 yrs with the house.
First time that we own a house.
Thank you.

Open Question: Does anyone know a lender who REFINANCES autos with +100K miles. Most lenders "stop at 80K." HELP!?

It's an Acura, which should help. I have "good" credit and plenty of equity in my home, but it MUST be refinanced, not paid off. I just need approval of an older car w/ high mileage.

Open Question: how long before i can refinance the foreclosed home i purchased in nov. 2007? i have excellent credit.?

Kind of a long story so please bear with me,,,, I was married and owned a house with my husband. We divorced in 2003 and I filed a "quit claim" on the house and he was supposed to refinance it in his name only. Fast forward a few years, I just checked my credit report and see that I am still on the mortgage. Now it's an account that is in good standing so that's good for my credit, but it's also got a balance of over $100,000.00 on it so it looks like I have alot of outstanding debt which is bad. My questions is,,, is it better to leave my ex alone and keep a "good" account on my credit report or is it better to tell him to refinance and get it out of my name completely? My credit score now is about 600. Thank you. Adding on,,, my score is so low because I filed bankruptcy shortly after my divorce, but after it was discharged I got 2 credit cards that I keep low balances on and make more than the monthly payment on time every month. The only reason I can think my score is staying low is because I have such a large "outstanding" debt (Over $100,000 mortgage). Thanks for the answers so far.

Open Question: How can I refinance my car?

I would like to know how can I get a lower monthly payment to at least $200-3, currently paying $499mo. I bought a Toyota Corolla 2007 from Toyota Glendale last March.
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Open Question: how long before i can refinance the foreclosed home i purchased in nov. 2007? i have excellent credit.?

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Open Question: Is bankruptcy right for me?

I am really considering bankruptcy but since it is a major decision, I would really appreciate some feedback from people. Heres my situation:

1. I am 22 years old (23 in 10 days, 33 years old when this is all over)

2. I make $25,000 annually at the most

3. I owe $20,000 in credit cards from cash advances which I used to pay my mortgage

4. I owe $430,000 for owning my home and pay $2800 a month for mortgage (I'm paying interest only, nothing on the principal; 2 loans by the way) not including utility bills

5. I receive $1400 from my room mate to pay my mortgage

Now with all these facts given, is it worth filing bankruptcy and having it last 10 years on my credit and finally having some peace of mind? Or, or, should I just get a second job, stress out, struggle my butt off to pay the mortgage and credit cards on top of that, and hope that the real estate market changes in a few years in order to get a refinance to lower my payment?

What do you guys think? Thanks! Please note:

If you must know, I went into this predicament thinking that 2 other room mates were going to help me pay for the house, but they took off and left me by my lonesome self.

The house is entirely under my name.

Also be aware that bankruptcy lasts for 10 years before it completely clears up on my credit (or so I've heard).

Utility bills range from anywhere from $200 to $500 for me, depending on the season.

It just seems more reasonable to give it up now because if the real estate market doesnt pick up in a few years, all that money, effort, and most importantly time will be lost to something that never really was going to pay off in the long run.

Yes, I have been paying the house on time but keep in mind that I've been only paying interest and I still owe and will continue to owe the same $460,000 unless I start making payments that are close to $4000 a month, which is just, simply impossible for me.

The principal has not gone down at all! *****On the second detail of paragraph i said $460,000. Sorry, I meant to say $430,000. Sorry for the confusion.******* ****ONE LAST THING***
Having to pay that much money a month is very stressful, especially trying to come up with the money. I really cant take it anymore. I just want to go to college and study and get an apartment and just get away from all this debt that unfortunately I have got myself into. Trying to come up with $2800 a month is not easy and it takes a toll after a while, especially when you cant afford it. THAT IS THE MOST IMPORTANT REASON FOR ME FILING BANKRUPTCY, getting my life back.

Open Question: help? im stuck in the middle...?

My husband and I bought our first house at age 20. We were stupid, and got into an ARM. We have lived in our house for 2.5 years, and have never been late on a mortgage payment. Since I am a full time student living off my student loans our debt to income is crazy high. So we can't refinance. I even contacted our current mortgage holder (American's Servicing Company) and completed the paperwork for loan modification. However, they said our debt to income is too high and we were denied. I asked them, " So you would rather forclose on a property than help us keep our current rate when we have never been late on a payment?" I am not sure what my question is. I guess want to know if anyone else thinks that is crazy on ASC part? You're right. But how I loathe working. Husband already works around 65 hours a week.

Open Question: If I owe $2000 more on my car loan than my car is worth - will I still be able to refinance the loan?

I currently have a loan on my car under my mom's name and mine. I want to refinance the loan and have it solely under my name, however the car value is $2000 less than the loan. Will I still be able to refinance or am I going to have to come up with the $2000 on my own? NEED ADVICE!

Open Question: I need to fefinance my car. Who can I use to refinance my car if my credit score if below 500?

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Open Question: help? im stuck in the middle...?

okay let me start by saying i take care of my 2 brothers and dont have much income just home, food, and clothes expenses. so this is the deal my friend sold me her car because she bought a new one car so basically i was taking over payments of412.00 every month and she would cover 100.00 dollars so i wouldnt struggle to make the payment.

so 2 months later she finds out she is pregnant and she cannot cover the 100.00 every month. She asked me if we got get the truck refinanced under my name but i have very poor credit.

i dont know what to do i think i can do better without it because i will not be able to afford it.
what should i do? and how should i tell her? Nissan Xterra 2004 the reason i took the trunk was because my brother totaled my car and had no transportation to get to work. she already paid about 3 yrs of it and i think the amount owed is 15,000.00