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JuliaD
Joined: 07 Oct 2003
Posts: 4
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 Posted: Wed May 18, 2005 6:50 am Post subject: Will a mortgage company refinance a loan currently in forebe |
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| I've got a mortgage that is in a repayment status under a forebearance plan, but they want to modify the loan and put what I currently owe on the back of the loan. I want to know if another mortgage company will refinance me with the loan currently being behind (although payments have been made as agreed through the plan).Thanks for your help!!! Stressed in GA... |
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faybulus1
Joined: 03 Sep 2007
Posts: 3
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| Posted: Sun May 29, 2005 3:57 pm Post subject: Will a mortgage company refinance a loan currently in forebe |
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| Generally speaking, no they won't. Right now, though you may be in luck. There is a big push by Congress and the industry in general to "fix" this whole fiasco of subprime mortgages going into default. You may be able to qualify for some help. Check with a few mortgage agencies and see what they say. Do: get a fixed rate long term loanDon't: get anything balloon, ARM, or interest only.Expect to have to suck up some of the losses by adding them into the loan. Either from your current lender or from someone else. |
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TomH7989
Joined: 03 Apr 2007
Posts: 2
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| Posted: Fri Jun 10, 2005 1:04 am Post subject: Will a mortgage company refinance a loan currently in forebe |
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| You certainly can refinance. However, you will have to pay off the existing mortgage amount with the new mortgage. |
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LIGER20498
Joined: 05 Mar 2007
Posts: 7
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| Posted: Tue Jun 21, 2005 10:12 am Post subject: Will a mortgage company refinance a loan currently in forebe |
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| They will if your credit still qualifies. If you are in a repayment plan its most likely you have hurt your credit. It may not be high enough anymore. |
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