- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (9)
- Chris Corica, "Chris Corica"
- Contributions:1075
If Fannie Mae owns your current loan, You may have options available. To find out go here; http://www.fanniemae.com/loanlookup/ If they do own it, share this info when contacting lenders and see if the DU Refi Plus loan is right for you. Best of luck.
- ScottDiz
- Contributions:4
they do not, BOA owns it.
- Colorado Expert Jeff Hansen, Realtor, "jeffhansencolorado"
- Contributions:105
Most tax assessments are not a true picture of value. Have a local realtor get you a value with an up-to-date Competitive Market Analysis(CMA) and see if the value is better than the assessment. Maybe BOA is not being helpful, because they think there isn't enough equity... It's a thought.
- Nelson Bayne, "StCasimirsSavingsBan"
- Contributions:39
https://ww3.freddiemac.com/corporate/
Kudos to Chris - he was right to check FNMA - but do not forget Freddie Mac - It is highly unlikely that BofA holds a mortgage without a security backing it. What that means to you? BofA is a servicer. I would bet a nickle that you did not apply back in 2007 at BofA - the loan was sold to them. What they do is secuirtize the mortgage and since it is not FNMA - it may be Freddie Mac - OH - by the way - condo's are tricky to find in FNMA - the better way is to call BofA servicing and ask if the loan is a Fannie Mae or Freddie Mac secured loan. Do not be disheartened - go to a local community lender and see what they have - they love the shorter term mortgages! The assssed value and the actual value may be different - the actual value can only be gained by an appraisal. Unfortunately many appraisals are coming back less than what was paid back in your acquisition year. But Condominiums are an interesting unit. Units in Washington D.C. are stable - who knew!
Kudos to Chris - he was right to check FNMA - but do not forget Freddie Mac - It is highly unlikely that BofA holds a mortgage without a security backing it. What that means to you? BofA is a servicer. I would bet a nickle that you did not apply back in 2007 at BofA - the loan was sold to them. What they do is secuirtize the mortgage and since it is not FNMA - it may be Freddie Mac - OH - by the way - condo's are tricky to find in FNMA - the better way is to call BofA servicing and ask if the loan is a Fannie Mae or Freddie Mac secured loan. Do not be disheartened - go to a local community lender and see what they have - they love the shorter term mortgages! The assssed value and the actual value may be different - the actual value can only be gained by an appraisal. Unfortunately many appraisals are coming back less than what was paid back in your acquisition year. But Condominiums are an interesting unit. Units in Washington D.C. are stable - who knew!
- ScottDiz
- Contributions:4
I did indded apply for the loan with BOA, it was a special new homebuyer partnership with ACORN of all people.
Am contacting BOA now to see who it is secured by.
Am contacting BOA now to see who it is secured by.
- sunnyview
- Contributions:25139
Here is the mortgage lookup site for Fannie Mae. Here is the mortgage lookup site for Freddie Mac.
- ScottDiz
- Contributions:4
Serviced and Secured by BOA, so no HARP.
- Greg Cowart, "Roseville Loan Guy"
- Contributions:448
Scott,
Right now it doesn't sound like there is much that will make your situation any better, not regarding your mortgage anyways, but you might find some comfort in knowing that even if you lowered your rate by 1.5% your payment isn't going to go down much at all with your loan amount. I know that doesn't really help, just trying to help out in some way. :)
Sincerely,
Greg
Right now it doesn't sound like there is much that will make your situation any better, not regarding your mortgage anyways, but you might find some comfort in knowing that even if you lowered your rate by 1.5% your payment isn't going to go down much at all with your loan amount. I know that doesn't really help, just trying to help out in some way. :)
Sincerely,
Greg
What should I do?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.