How do we refinance our condo…Our LTV is about 100%?
We have an ARM that is set to expire in 10 months. We owe about the same as what our property is worth, maybe a couple thousand more. (Thanks to plunging values in Denver and tons of foreclosures). We have brilliant credit (780's) and no credit card debt. We have about 00 saved that we can use for Closing Costs or to pay our loan down a small. Our current lender will not refi us because they want 80% LTV …thanks a lot Wells Fargo. Anyone gone through this? What lender did you use? What about George Bush's new FHA plot (called FHASecure I reckon). I believe we qualify for it, but having distress finding anyone who know anything about it. Any input is greatly appreciated
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Tags: 10 months, closing costs, credit card debt, fha, FHA Foreclosure Refinance, foreclosures, george bush, ltv, wells fargo, what about georgeTags: 10 months, closing costs, credit card debt, fha, foreclosures, george bush, ltv, wells fargo, what about george
The new FHA plot is not available with most lenders yet, but can be one of many options that should be available to you. Depending on your situation, many banks, like mine can do 100% financing.
You are right that you may have to come to the table with money, but if you have to you, you have to. If you have further questions, feel free to contact me.