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Answers (3)
- CORONA NICK
- Contributions:2218
If the rent covers the mortgage... rent it out... if not, then your SOL.
- Wayne Brown, "SDMortgagefinder"
- Contributions:1433
FallGuy
I am not sure when you refinanced, but that rate seems rather high, even for the last ten to twelve months.
Loan modifications are usually only granted in cases of hardship such as medical, loss of job, etc.
Depending upon where you are located and the loan limits for your area, you might qualify for FHA. Check with an approved lender in your area.
Good Luck
I am not sure when you refinanced, but that rate seems rather high, even for the last ten to twelve months.
Loan modifications are usually only granted in cases of hardship such as medical, loss of job, etc.
Depending upon where you are located and the loan limits for your area, you might qualify for FHA. Check with an approved lender in your area.
Good Luck
- Martin Rodriguez, "martincfi"
- Contributions:2
There are several new programs available that will allow you to refinance even if you're a little upside down on your loan amount. You said that you recently refinanced to a 30 year fixed at 6.125%. How recent was that? The market has been running in the low 5's for several months now so if you are currently at 6.125% it may be worth looking into getting a lower rate.
As for whether or not you should rent out your home, there are a lot of questions that need to be addressed before i can give you an answer to that. The first questions is why are you considering this? Do you have a specific goal? Do you have experience with managing real estate? I can help you answer some of these questions and design a strategy for you at SCV Loan Solutions Feel free to contact me for an in depth review.
Good Luck.
As for whether or not you should rent out your home, there are a lot of questions that need to be addressed before i can give you an answer to that. The first questions is why are you considering this? Do you have a specific goal? Do you have experience with managing real estate? I can help you answer some of these questions and design a strategy for you at SCV Loan Solutions Feel free to contact me for an in depth review.
Good Luck.
What Refinance options do I have and is it worth renting out property
We currentrly owe 394,689 and our home is worth 404,000 on Zillow. We want to refinance but are getting shut out because our LTV ratio is 100%. Our payments are pretty high but we have never been late or missed a payment. Can we qualify for a Loan Modification? Also is it worth renting out our home.
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