2007-11-27 04:59:39 · 6 answers · asked by El profe 1 in Business & Finance ➔ Renting & Real Estate
No especially difficult if you have it through a large bank.
2007-11-27 05:06:50 · answer #1 · answered by Libby 3 · 0⤊ 0⤋
Yes, as long as you have maintained your mortgage payments in an as agreed manner you can call your current lender and ask about a "streamline" refinance. No new appraisal is required, the loan is based upon the original appraisal. There will be a new credit report and the necessary title and escrow work. Fees are minimal and it should be able to be completed quickly. The only thing is that you cannot get any cash out from the transaction.
2007-11-27 05:11:18 · answer #2 · answered by mazziatplay 5 · 0⤊ 0⤋
Not without the paperwork. You have to sign things that give your consent to change your loan, or "modify" it as another poster put it. So no matter what, you'll have to sit down with someone, go through the stuff and sign. It may be worth your time to do this if your mortgage is getting ready to adjust up, tho.
2007-11-27 05:35:10 · answer #3 · answered by chris4realestate 2 · 0⤊ 0⤋
YES, it's called a loan modification. Some lenders are willing to help borrowers who are having problems making there payment by freezing there adjustable rate mortgage for an extended period of time. Depends on your situation and the lender.
2007-11-27 05:07:22 · answer #4 · answered by Anonymous · 1⤊ 0⤋
No. You will have to refinance. There ARE some lenders who are working with those who have ARM's in the current situation, but they are requiring that you still refinance with them in order to obtain a fixed rate mortgage.
2007-11-27 05:03:34 · answer #5 · answered by acermill 7 · 1⤊ 0⤋
im not sure you can do anything without signing paperwork..found a really good mortgage site has tons of information... heres a bunch of reports really helpful.. good luck
http://www.derekbeisner.com/reports.asp
http://www.derekbeisner.com
2007-11-30 16:17:24 · answer #6 · answered by Pure Genius 3 · 0⤊ 0⤋