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Marcus Said:

Will anyone refinance my adj rate Mortgage at 120% LTV?

We Answered:

Yep, unfortunately this not an unusual situation around the country. You either 1) keep up the payments until you are in a situation to refi, or 2) if you are in default, see if you can find an investor who can try to negotiate a short sell and take the house. I'd recommend if you take this route, you work with an investor who demonstrates they don't make promises they can't keep, and push to put your deed in escrow.

Elizabeth Said:

5year fixed rate refinanced mortgage, must it pay an interest?

We Answered:

you will just need to refinace your current principal balance. Get a payoff, what the current payoff is will be what you refinance.

There is not such thing as back interest, unless you took one of those interest only freaky loans. Or a neg am loan. Just get your payoff. Im sure you are fine.

Kelly Said:

where can I find info about the best possible refinance rate on my mortgage without talking to all these banks?

We Answered:

You want to pay closing costs.
You do not want them added to your mortgage.
If you have them added, there will be prepayment penalties.
A bad thing if you decide to move within a couple of years, or if you ever decide to pay extra mortgage payments.

Go to bankrate.com to find the best mortgage rates from banks.
Don't forget to get your credit reports before you ever apply for a mortgage.
Get them for free - reports have always been free
annualcreditreport.com
Print them out and correct all errors.
1 in 3 people currently have errors in their reports.
After everything is perfect, wait 30 days for reports to update and go back to Equifax.com for your score, about 8 bucks.
Do not sighn up for credit monitoring - you don't need that.
That just charges your credit card horrendous monthly fees.
Complaints are that even after you cancell, they keep charging you.

Make sure you not only have closing costs at hand, but have 10% down.
The days of 0% down are long gone.
If you have any dings in your credit - a score of less than 740, you may need 20% down.

Note: don't let banks scam you - they are still doing it.
Do not get ARMS, balloons, interest only, fixed for a couple of years.
Stick to 15 or 30 year fixed - don't let them rip you off.
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Darlene Said:

I want to refinance my ARM to a fixed rate mortgage, what are the steps to take?

We Answered:

You're not going to get a good loan for over 100% of value - pay down whichever one you can pay down fastest. If you're only staying 5 more years, it may be more economical to not refi.

But, if you still want to, go to lendingtree.com and see what you can get. If not now, let anyone who contacts you know that you're still interested for the future, even if they can't do anything for you now.

I did that a few years ago - there was nothing available that I was interested in. Over a year later one of the people called me back with a 30 year fixed, 4.875% offer. Needless to say, that's what I'm sitting with now.

Violet Said:

Is a 5.5% Mortgage Refinance rate good - or should I wait?

We Answered:

better question is, can u afford a refinance... do u kno bout the fees that go with a refinance? if not, start doing some research....

Juan Said:

I have line of credit at 2.5%. Should I refinance my mortgage to fix rate?

We Answered:

If you can fix the rate at this level and need the money, what are you waiting for?

Joann Said:

need a lower rate and lower loan amount. what can i do to get my mortgage company to refinance at a lower rate?

We Answered:

Be aware of scammers!!!!! you can get a lower rate but you will need to pay for closing costs, call your bank.