I reflect it’s time to refinance, but not sure. I was using a mortgage company that was dreadful, very unresponsive and did not pay attention to what I wanted. I need a new company. Who have all of you had success with?
The individual & his partner that sold us the property carried the full buy price amount (less the down payment), as a “Contract of Sale”. Over the last couple of years both parties (buyers & sellers) have been faced with some kind of financial, real estate, health &/or family “issue(s)”, one of which, is being us, the buyers. Thus causing our Mortgage payments to fall behind, drasticly. So in order to refinance, (with Benificial or another Mortgage / Lending Company), they would be paying off two individuals (the partners), not a actual “Mortgage Company”. Does this make a problem? What if the property is in foreclosure, how would that look the odds of being paid refinanced with a new Mortgage Company?
Although, there’s at least one excellent thing in our favior…
Currently we have approx. 55k justice in the property.
Please advise. Thank You.
I heard that since of the amortization schedule, by re-financing you are simple re-background the schedule and paying that high interest weight at the beginning of each new mortgage, this is why in most cases your payment goes down. I heard of a case where one paid 5 times over the value of the property over-time?!!!
I am recently divorced and left with two mortgages, credit card debt, student loans, a son to take care of, and no child support. If I can sell my house, I will be fortunate to break even. I am considering bankruptcy and including my house to simply walk away and let the bank have the keys. I have a excellent job, but am so buried by debt right now I am living off credit cards. Currently all of my payments are current on the house and credit cards, but I can’t keep that up.
Appreciative that bankruptcy does not include student loans, can anyone give me some advice on if this is the right thing to do? Additionally, would I then be able to buy a small townhouse to go into with my son if my parents are willing to cosign the new mortgage with me?
Thanks for any suggestions!!!!
Please note:
-there is no justice in my home between the two mortgages. Zero.
- I have a child support order, but am not being paid a dime
- I have just deferred my student loans for 6 months
I need to refinance my mortgage or get a new one if I influence to buy a new home. Which mortgage co. is safe and reliable?