Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for jrlce

We owe $430,000 on a house worth about $410,000, with no equity... can we qualify for re-fi

we had 100% financing when we bought 2 years ago, so we have 2 mortagages basically, with total payment of $3200 a month, and we bring in $7500 a month, with about $2000 in additional bills
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 25 2009 - Ashburn
This thread is currently closed for responses.
We think we've answered this question for you!
 
 

Answers (67)

Oh goodie - another pot/kettle reference. :) I made one on another "viv" thread.


The bottom line to all the nonsense that keeps following Viv on these threads is:

a) Don't pull things out of thin air. If you are posting something that requires (or should require) documentation, post it. Post a link to an article. Post a link to some source (scholarly, if possible) citing a statistic. Cite a law. Randomly posting something that is more substantial than a personal opinion without documentation will get you nailed most of the times on these boards, particularly if the info is incorrect or presented in an inflamatory manner.


b) Don't be a hypocryte. Viv is a classic offender in this category. If you are going to waffle on topics, have some time and threads between the posts or correct old posts. Also in this category - don't accuse someone of something that you did either in the accusatory post or the one that caused the inital comment.


c) Don't interpret words/phrases/statements if you are bad at it. In my opinion, Viv does a poor job of reading posts and telling people what they said (or rather she likes to quote folks as something totally NOT what they have said), that she should leave well enough alone.


d) Don't be patronizing, particularly when you are incorrect. There seems to be a direct correlation between the level of wrongness and the amount of arrogance with which it is delivered.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Andrew...I pointed that out to someone who had asked a question about his basement and then chastised me and Vivienne because we didn't give him the 'right' answer.

Ya gets whats ya pay for.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Mike...More often than not...You get what you pay for!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Uh Oh Sherri you are just poking the bear again.

Carry on!

I must say though if Vivienne was incorrect about the 125% LTV loans it would be nice if she either gave proof these loans are doable or retract the statement. I think the whole issue has been lost in a fog of needless rhetoric and Zillow nonsense.

I know I have erred on Zillow on occasion and I immediately retracted my statement so as to not mislead the public. After all we are the oracles of information to the real estate masses (at least to the ones who want their information for free).

Carry on!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Pot....I would like to introduce you to Kettle!

"if you repeat something often enough it just may be accepted eventually as true.... "

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Viv,

You are speaking of yourself.  You scream the 125% LTV enough times and I think you are beginning to believe it that it is actually available.

You tout giving the consumer this information is great service, yet you do not disclose that it cannot be done.  Again, you scream loud enough you begin to believe it.

Many of us, COUNTLESS of times have told you that it is not.  Yet you continue to regurgitate the same thing.

Do what you KNOW. 

I joined this thread, as with many others, because you are giving information to the consumer that blatantly does not benefit them at all.I have asked you many times for what purpose you are doing this and you come back with a twist or play on your words...you cannot even answer the question.

I will continue to go on these threads until you decide to STOP providing worthless information to the consumer.  The continued 125% ltv refi comment is worthless.  Worthless because you provide NO additoinal information and potentially send consumers out on a wild goose chase only to find out that there is nothing that can be done.  You have been told many many times it cannot be done and for some reason, there is this evil side in you that continues to want to throw that out.

For the last time,  for what purpose, Viv?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
What is really funny is that, if the value is correct, 105% would have probably worked. But, in my experiences, Lenders want really do that either. Qualified or not.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Sherri,

You must come from a culture where whoever screams the loudest wins....or if you repeat something often enough it just may be accepted eventually as true....

It is a very universal old trick. In the most recent history, the communists used it with a great success, although not for too long.

Yes, I opened a thread from February to UPDATE the information - you did NOT have to join that thread.
 
Why don't we agree that I will not reply to your "jibberish" and you do not reply to mine.  Thank you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Viv, once AGAIN, you just don't get it.  Your jibberish responses really are quite comical.  I enjoy seeing you back yourself into a corner time and time again with your twist on words.

In fact, let me direct that SAME question back to you:  What if the client is using a LOAN OFFICER they know and trust?  Hmm??

You get off on advocating competition between lenders, but not between agents?

James, no worries on the original "poster".  Vivianne found it necessary to dredge this thread up from freegin February.  I think she is making a sad attempt to rise up on the leaderboard.  My guess is jrice has been off this thread for a very long time.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
>>>NOTE: I am NOT a Federal Agent.... <<<

James,

There was a talk that you've been hired as a "tester"/ undercover agent...stop pretending that you are not.

One can never be sure in this business - playing friend one minute, and putting handcuffs on the next..... 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Cut up the credit cards, sell the beemers, pay the mortgage and pray the market turns around.  You are so far overleveraged it is ridiculous, but I guess you know that.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
sheesh, importance...I do know how to spell!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
jrlce, I feel it now necessary to apologize to you for some of us in the Zillow community, as your intitial question and concerns seem to have faded in importantance, instead replaced by some rather off topic discussion and unrelated ill will.  Please remember this is a very fluid time for both Lenders and Realtors, as programs and underwriting guidelines are changing as often as we might change our clothes. This added pressure affects us all, and is quite stressful, as you can imagine and see. We all strive to be knowledgable and professional in both our our daily work and here on Zillow. I hope you find a program to help you, and I think, by consensus, it may not exist save in theory at this point. Keep your hope up, and a positive attitude, you should do great, at least I do hope so. Jim
PS: Perhaps we can let this thread pass to its reward now. I too, would appreciate any referrals! ;)
NOTE: I am NOT a Federal Agent....
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
>>>3 or 4 agents...unless of course they are already using one I know. <<<

Sherri,

You seem to like to exert a lot of control over people's lives.
What if they like to use their own agent that they know and trust?

If I were you I'd be very careful, or you may cross the line where it becomes illegal... RESPA rules, etc. 

You do not want the federal agents looking into that - for all I know they might be reading it right now.... 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2009
Viv!  I, too, believe in getting the best for my clients.  I always recommend they shop 3 or 4 agents...unless of course they are already using one I know.  An agent who is working on their behalf and only in the client's best interest.

We finally agree on something! 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Robert,

Gladly - I expect only the best terms for my clients.
By the way, I always advise them to shop for the best quote and the best loan product, so be prepared for some friendly competition :-) 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Why is an Agent talking about refi's anyway? This is not part of an Agents fiduciary responsibilities.

Viv,
All were trying to say is stay out of financing. You will never know what goes on in our world. I love working with Agents and getting people into homes,....but I cant stand it when an Agent tries to give mortgage advice. I never give out R/E advice because that not my job. Even though I have my R/E license and have been in a related biz 6 years.

And by the way,...feel free to send me some of your clients for approval.  ; )
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
SO, what's for lunch?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Maybe it's progress - that was *almost* a source. (probably should have provided a link to the quote)

Since we are using quotes, I believe the actual quote you are referencing is "Trying to have a conversation with you would be like trying to argue with a dining room table. I have no interest in doing it."

http://www.youtube.com/watch?v=nYlZiWK2Iy8
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Hmmm...yes, Barney Frank did make an interesting comment..."Talking to some people is like talking to a table." Mr. Frank is indeed talking my language and the language of so many others on this thread.Some people are like talking to a table...they just don't get it.Thank you, Viv!  Have a splendid day.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
I think you just answered some questions that were on the minds of many voters and taxpayers.

NOTE:
I do not agree on everything with Barney Frank, the U.S. Representative from Massachusets.  As a matter of fact, I do not agree with Barney Frank on most principal issues.

But I admit that I wholeheartedly agree with Barney Frank when he said:
"Talking to some people is like talking to a table."

Great observation, Mr. Frank.
I second it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
THANK YOU, Tiffany, for providing some REAL information!!!

Oh, Viv... You crack me up! 

"Realtors are also known to eat loan officers alive, when we sense fraud or other impropriety "

Let me get you in on a little secret....shhh....lenders have also been known to chew and spit out realtors for their little fraudulent activities.  In fact, just advised a client last month to fire their agent and report the issue for unscrupulous, fraudulent actions.

Yes, homeowner's absolutely should be given information for counseling, victimization, reporting scams, etc.  But what the heck does that have to do with the 125% LTV refi?  Do you not "GET" anything? We are troubled by you spamming the 125% ltv refi all over the threads.  Can you not understand that it is not available?  Again, I ask, what IS your purpose? 

On one hand you spew that program all over the threads....WITH NO OTHER INFORMATION TO THE CONSUMER.  Now, you are turning it around to mean that you are offering information to troubled homeowner's who have been victimized. How in the world is a consumer going to deduce that your lame posts "LTV has been increased to 125%" means anything less or more than those words???

Unbelievable...
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
So Viv...Doesn't it makes sense that you would have one or two loan officers that you work with regularly that know what they are doing and do it well!I am begining to think that you are a bit like Rip Van Winkle and have been asleep for the past 100 years...or so!  My mom was arealtor when I was growing up so I have been around the real Estate business ever since I can remember 35+ years.  I know that realtors used to have far more control than they do today!  Admitadly you should not be giving legal or financial advice yet you continue to pimp a program that is not available yet.In my database of realtor's you would fall into the PITA group!  Pain in the - - -!  That's the group of realtor's I make a deal with...you don't call me and I won't call you!I wish you the best of luck, with your attitude it won't be long before no loan officer will call you back! 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
"Since the Obama Administration is building their legacy on The Home Affordable Program (making loan refinancing and loan modification possible for troubled homeowners), and in reality, by your own admission, LENDERS do NOT provide those services to the borrowers - this alone is all the more reason to talk about it!  The general public SHOULD KNOW what is truly going on in this country of ours!"

So you think we should be talking about the current administration's lack of insight and ability to make real change not just progressive agendas?  Or did I just misunderstand you Viv
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
>>>I am guessing you don't have too many strategic partner relationships with lenders.<<<

????????

Andrew,Realtors are NOT in a business to make "strategic partner relationships with lenders."   We represents the best interests of our cliets, and only our clients.

Realtors are also known to eat loan officers alive, when we sense fraud or other impropriety - so be on guard.  Because our reputation depends on it.

NOTE: By law, real estate agents cannot give legal or financial advice.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
The HUD published those FREE, HUD-approved counselling phone numbers in response to increasing number of scam artists targeting troubled homeowners.

Those scammers victimized homeowners by attempting to make money off troubled borrowers interested in taking advantage of the Obama foreclosure-prevention plan.

In most cases, the firms charged the homeowners up-front fees $1,000 to $3,000 to modify their loans and then disappeared.  Most of the time, the modification never happened.  Not every loan modification company is a fraud, but there certainly are a lot of predatory schemes, and homeowners should be aware of that.
 
With the volume of borrowers looking to refinance and modify on one hand, and the lending industry not eager to cooperate on the other hand, I can see the government being overwhelmed just by the sheer number of callers.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Thanks Sherri :)
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Ok, so I called the 888 number this morning and they did pick up surprisingly quick. They refer you to the website for questions and noted they are primarily there to help people with foreclosure issues.
So here is the process in my opinion and to the best of my knowledge.

1) Go to the website www.makinghomeaffordable.gov

2) Go through the little web question script to see if you might be eligible

3) Check the lender list on the website to see if there is a lender that will help you. (I didn't see if it has to be your current lender or not - lending folk want to chime in?)

4) Call the lender.

5) I would imagine a ridiculous amount of paperwork and waiting follows - but anyone who has been through the process please confirm.

6) The gentleman on the phone did not point me to any sort of statistics or resources on who had been approved under the 125% program.


Although this was relatively quick to obtain, I still couldn't tell you if anyone has or will underwrite the 125% loans. I would imagine it is at the discretion of the lender, but I have not located an actual copy of the lending guidelines. Does anyone have a copy so that we could get the annoying little thread confirmed, denied or given a stay of execution?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Sometimes the flag takes a bit to catch up.
I my personal opinion it is uprofessional to post minimal information to consumers saying they have a "right to know", but to not know yourself where one could get that product. It just gives consumers the hope something exists only to torment them with endless hours on hold and no resolution. It shows ultimate disrespect for a potential client; it intentionally wastes their time.


[Can you imagine getting hope on this board and even a phone number and then calling around for hours desperately trying to find this mythical creation...only to find out after hours (or days or weeks) that the product that is out there doesn't work? To me this is like someone telling me they made Jell-o pudding pops again so I spent countless hours running around trying to find one to get my nostalgic fix, only to discover when I finally found a box they so aren't what I was expecting...they are the wrong shape and texture and are missing the ice shell *sigh* I chose to spend all that time finding them, but it was based on the advice of someone who seemed to know and apparently had less rigorous standards in pudding products than I do - the product didn't work for me at all.]


Now, if someone wanted to give them a number and say "this should be available, but I can't find a lender who will do it - call this number and lobby for the government to make these loans sweet enough for a lender to make it happen". I may not agree with what is being lobbied for, but I can agree with that thought pattern. That suggestion would allow people to know what they are actually in for and would affor the person the time to contemplate what they were going to say to make a compelling plea to the person picking up the phone.


I could also go for providing links to program guidelines (or as much about the guidelines as I could find in a <2 minute google search) , http://www.makinghomeaffordable.gov/borrower-faqs.html.



Gregorio: Inego Montoya says "you keep using that word - I do not think it means what you think it means"
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Tiffany, you nailed it.  You always bring great information to the threads!  (love the humor, too!)
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 03 2009
Related Questions
We owe $430,000 on a house worth about $410,000, with no equity... can we qualify for re-fi
Profile picture for Tiffany Bond, Esq.
Latest answer by Tiffany Bond, Esq.
September 04 2009 | 67 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 42485 Spring Splendor Dr, Ashburn, VA Home For Sale
    42485 Spring Splendor Dr, Ashburn, VA 20148

     For Sale: $649,500

    • Beds: 4
    • Sqft: 3399
    • Baths: 3.5
    • Lot: 7841
  2. 42383 Rosalind St # R4HN7L, Ashburn, VA Home For Sale
    42383 Rosalind St # R4HN7L, Ashburn, VA 20148

     For Sale: $439,990

    • Beds: 3
    • Sqft: 1937
    • Baths: 2.5
    • Lot: --
  3. 42383 Rosalind St # IQXPEV, Ashburn, VA Home For Sale
    42383 Rosalind St # IQXPEV, Ashburn, VA 20148

     For Sale: $509,990

    • Beds: 3
    • Sqft: 2552
    • Baths: 2.5
    • Lot: --