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Answers (3)
- Larry Morris CMPS, "Oregon Mortgages"
- Contributions:45
While you are most likely not able to refinance without a job at this time, as you look for another one, just beware that it will be easier to refinance if your new job is doing the same type of work as your most recent one.
Out of curiosity, what type of loan do your currently have? Conforming? FHA? VA?
Out of curiosity, what type of loan do your currently have? Conforming? FHA? VA?
- Tiffany Lewis, "Tiffany Lewis"
- Contributions:68
Sorry, but without a job you won't be able to get a refinance. And rates are on their way up right now, so keeping what you have is probably the better idea until rates come back down. If your getting unemployment or have an offer to start a new job, then you could try for a loan modification. The banks want to know that you can afford to pay something every month, so you must have some type of income coming in. If you don't have any income and no job plans, best thing your lender might do is restructure your loan and move a few months of payments to the back end of the loan allowing you a few months break.....Good luck!
- Andrew Adams, "203K Specialist"
- Contributions:9349
Nope....as a matter of fact if rates keep going the way they have over the past 10 days a rate of 6% will be below market.
Only possibility will be a loan modification. And without income I don't believe that is possible either.
Only possibility will be a loan modification. And without income I don't believe that is possible either.
I am unemployed and not late on any mortgage pmts as yet. Can I get a lower interest rate?Paying 6%
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