to avoid foreclosure, If I have signed a forebarence agreement with my lender, for repayment of three months behind, can I refinance and avoid the high interest on the repayment agreement, which is about twice what my monthly payment was originally , and the plan is for six months ,I have found someone that will refinance the loan.
I can't imagine having to pay interest for six months if I can refinance, I was originally paying $2700, however the repayment is for $3900,with a $9000 down payment. If i was having trouble paying the original, how do they expect me to be able to pay that much more , and call it forebarence help ?
Will I have to pay the interest for the six months , or just that untilI I refinance or sell ? I have already paid the $9000 and the 2nd payment is due shortly.
2006-11-28 17:03:58 · 5 answers · asked by moham 1 in Business & Finance ➔ Renting & Real Estate
In truth, it's really going to depend on the terms of your Forbearance Agreement. My suggestion is to read through that agreement, and bring a copy of it to the person you're working with on the refinance. I can't see any reason why it wouldn't be allowed, but stranger things have happened. I hope this works out for you! Good luck!
2006-11-29 00:35:37 · answer #1 · answered by Sithein 3 · 0⤊ 0⤋
Refinancing is old news.......go to www.savingthousandsininterest.com and let them use what you have already without the 20-30 extra years of payments or changing your mortgage payments. Watch the video, and save yourself the headache!
2006-11-29 02:56:51 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Ask Suze Orman!
2006-11-29 01:14:21 · answer #3 · answered by keengrrl76 6 · 0⤊ 0⤋
Take it to the person your working with work something out with him good luck
2006-11-29 13:52:28 · answer #4 · answered by pattibcacl 6 · 0⤊ 0⤋
CONTACT ME . MARY HIGHERGROUNDFINSVC@CFL.RR.COM
2006-12-02 18:19:37 · answer #5 · answered by MARY A 2 · 0⤊ 0⤋