Zillow Advice RSS: Question-Discussion-Guide,Refinance,TN http://www.zillow.com/advice/TN/mortgage-refinance/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Quit Claim Deed and Refinance http://www.zillow.com/advice-thread/Quit-Claim-Deed-and-Refinance/577739/ Hi, My finance and I bought a house cosign by her mom. Now we want to refinance and remove her mom off the mortgage. I asked the lender how this process going to work? They said they will have to do a quit claim deed to remove her mom and then refinance the house to just us two. Is that a affective way to remove a cosigner through quit claim deed for refinancing. Am I going to run to any gift tax problem for using quit claim deed. Please advice me on what to do.<br \><br \>1 reply Wed, 04 Mar 2015 17:52:00 GMT http://www.zillow.com/advice-thread/Quit-Claim-Deed-and-Refinance/577739/ 2015-03-04T17:52:00Z why are we paying 9.25% interest? http://www.zillow.com/advice-thread/why-are-we-paying-9-25-interest/576562/ Refinanced in 2002 50,000 for home improvements. Our payoff is now $20,000. We want a lower interest rate. Now we are paying 9.25%. Our credit rating is poor and filed bankruptsy in 2004 due to job loss and medical bills.<br \><br \>2 replies Sun, 22 Feb 2015 14:11:00 GMT http://www.zillow.com/advice-thread/why-are-we-paying-9-25-interest/576562/ 2015-02-22T14:11:00Z why are we paying 9.25% interest? http://www.zillow.com/advice-thread/why-are-we-paying-9-25-interest/576562/ Refinanced in 2002 50,000 for home improvements. Our payoff is now $20,000. We want a lower interest rate. Now we are paying 9.25%. Our credit rating is poor and filed bankruptsy in 2004 due to job loss and medical bills.<br \><br \>2 replies Sun, 22 Feb 2015 14:11:00 GMT http://www.zillow.com/advice-thread/why-are-we-paying-9-25-interest/576562/ 2015-02-22T14:11:00Z Is there a good lender for investment properties http://www.zillow.com/advice-thread/Is-there-a-good-lender-for-investment-properties/401498/ I have 18 rental properties and can't find a lender to help me buy more. Any ideas<br \><br \>9 replies Thu, 02 Jun 2011 03:14:00 GMT http://www.zillow.com/advice-thread/Is-there-a-good-lender-for-investment-properties/401498/ 2011-06-02T03:14:00Z Is there a good lender for investment properties http://www.zillow.com/advice-thread/Is-there-a-good-lender-for-investment-properties/401498/ I have 18 rental properties and can't find a lender to help me buy more. Any ideas<br \><br \>9 replies Thu, 02 Jun 2011 03:14:00 GMT http://www.zillow.com/advice-thread/Is-there-a-good-lender-for-investment-properties/401498/ 2011-06-02T03:14:00Z Refinance or Put money towards Principal? http://www.zillow.com/advice-thread/Refinance-or-Put-money-towards-Principal/574080/ <p class="MsoNormal">Hello,</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My main goal is to lower my mortgage payment.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My loan is FHA, I refinanced on 10/2009, $150,000 at 5.25% for 30 years. My payment is $1,138.00. Escrow is $308, Interest is $605 and Principal is $225. No PMI that I see. Zillow Estimate is $180,000~.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I have about $7,500 to put towards a refinance or Principal.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">County and City Property Tax is $2,525 year, not much I can do there.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Homeowners Insurance is $1,177 year, ask to lower or get quotes.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My credit score from Credit Karma: TransUnion 733 and Equifax 735.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I want to refinance at 25 years, I know 30 years will lower payment more but I would pay more interest unless I can pay a little more a month towards Principal.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I heard about American Financing where their employees are salaried not commission, any pros and cons about them.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Is it worth refinance or put it towards principal and recast loan?</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Thank you,</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Jonathan</p><br \><br \>11 replies Sat, 31 Jan 2015 12:23:00 GMT http://www.zillow.com/advice-thread/Refinance-or-Put-money-towards-Principal/574080/ 2015-01-31T12:23:00Z Refinance or Put money towards Principal? http://www.zillow.com/advice-thread/Refinance-or-Put-money-towards-Principal/574080/ <p class="MsoNormal">Hello,</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My main goal is to lower my mortgage payment.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My loan is FHA, I refinanced on 10/2009, $150,000 at 5.25% for 30 years. My payment is $1,138.00. Escrow is $308, Interest is $605 and Principal is $225. No PMI that I see. Zillow Estimate is $180,000~.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I have about $7,500 to put towards a refinance or Principal.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">County and City Property Tax is $2,525 year, not much I can do there.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Homeowners Insurance is $1,177 year, ask to lower or get quotes.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">My credit score from Credit Karma: TransUnion 733 and Equifax 735.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I want to refinance at 25 years, I know 30 years will lower payment more but I would pay more interest unless I can pay a little more a month towards Principal.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">I heard about American Financing where their employees are salaried not commission, any pros and cons about them.</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Is it worth refinance or put it towards principal and recast loan?</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Thank you,</p><p class="MsoNormal">&nbsp;</p><p class="MsoNormal">Jonathan</p><br \><br \>11 replies Sat, 31 Jan 2015 12:23:00 GMT http://www.zillow.com/advice-thread/Refinance-or-Put-money-towards-Principal/574080/ 2015-01-31T12:23:00Z Required Document about Selling in the future http://www.zillow.com/advice-thread/Required-Document-about-Selling-in-the-future/571026/ Hello,<br/><br/>My wife and I are in the process of refinancing our home, and have been asked twice to provide verbally, and now in writing, a statement saying we do not plan to sell our home in the near future. Is this standard practice? We are wanting to stay in our home indefinitely (love the area and home), but of course life can happen (job transfer, babies, etc) and I don't want to be held on the hook for something.&nbsp;<br/><br/>Thanks!<br \><br \>4 replies Fri, 02 Jan 2015 20:42:00 GMT http://www.zillow.com/advice-thread/Required-Document-about-Selling-in-the-future/571026/ 2015-01-02T20:42:00Z info/advice on debt consolidation refi http://www.zillow.com/advice-thread/info-advice-on-debt-consolidation-refi/555390/ I bought my home in 2011 for 107K, and have a 103K balance and am paying PMI of 98. per month. My current mtge 4.375% and PITI is 779. Did some upgrading and improving and now Est current value is 140-150K based on similar sized&nbsp; homes listed in the same sub division. I am interested in doing a refi to eliminate the PMI and consolidate some debt. Would like to refi for 120K with low closing costs, and cash out about 17K for debt. My score is approx 660-680. Is this doable?<br \><br \>2 replies Tue, 19 Aug 2014 03:42:00 GMT http://www.zillow.com/advice-thread/info-advice-on-debt-consolidation-refi/555390/ 2014-08-19T03:42:00Z Help refinacing a mobile home. http://www.zillow.com/advice-thread/Help-refinacing-a-mobile-home/550648/ I need to refinance my older( 1999 16 by 90) mobile home. I just went thru a divorce in June and need to get his name off of it. I owe 3000 on it and need 2000 to pay off some other bills.I have bad credit (bankrupt in 2011), I would only need this loan for two and half years. Anyone know of some where that can help me?<br \><br \>1 reply Mon, 21 Jul 2014 22:29:00 GMT http://www.zillow.com/advice-thread/Help-refinacing-a-mobile-home/550648/ 2014-07-21T22:29:00Z Our Appraiser did not count more then half of our house, what can we do? http://www.zillow.com/advice-thread/Our-Appraiser-did-not-count-more-then-half-of-our-house-what-can-we-do/549757/ My wife and I purchased a beautiful home last year and we are currently trying to re finance the home to get cash out and to get a new rate. We have been approved of the loan and our estimate and the lender was this house is worth up to 200,000. Our home is a 3 bed, 2.5 bath house built in 2006. The lender had an appraiser come over yesterday and we were told some pretty shocking news. He said that the downstairs is below grade and will not be counted on the home. So he appraised the house at 1 bed, 1.5 bath , and only 900sf. The appraised value was 98,000 which is less then we owe on the house. We were denied the loan and don't want to pay another 300 on a appraiser if we don't have to. When we bought this house it was advertised on Zillow and all other sites as a 3 bed, 2.5 bath , AND 2100 SF. Even the county tax record&nbsp;has&nbsp;it at &nbsp;2100 sf . I have been informed by someone that if this is true and it will not be counted that i can go after the lender who sold it to me. Please help us with any information you can, my wife and i our first time homeowners and were in a really tough spot. Thanks<br \><br \>5 replies Tue, 15 Jul 2014 16:07:00 GMT http://www.zillow.com/advice-thread/Our-Appraiser-did-not-count-more-then-half-of-our-house-what-can-we-do/549757/ 2014-07-15T16:07:00Z Any prior experience with goodmortgage.com either negative or positive you can share with me? http://www.zillow.com/advice-thread/Any-prior-experience-with-goodmortgage-com-either-negative-or-positive-you-can-share-with-me/475819/ 5 replies Fri, 25 Jan 2013 14:24:00 GMT http://www.zillow.com/advice-thread/Any-prior-experience-with-goodmortgage-com-either-negative-or-positive-you-can-share-with-me/475819/ 2013-01-25T14:24:00Z Are the any lenders that will refinance an "underwater loan" not backed by Fannie Mae or Freddie Mac http://www.zillow.com/advice-thread/Are-the-any-lenders-that-will-refinance-an-underwater-loan-not-backed-by-Fannie-Mae-or-Freddie-Mac/530934/ My current mortgage is with a local bank. &nbsp;We our loan&nbsp; is around 138k&nbsp; and are told it's worth about 135k. We have good credit and have never been late with a payment, but the bank won't budge off their 6.2 interest rate and will not discuss a refi. Anyone with any suggestions?<br \><br \>4 replies Tue, 04 Mar 2014 21:28:00 GMT http://www.zillow.com/advice-thread/Are-the-any-lenders-that-will-refinance-an-underwater-loan-not-backed-by-Fannie-Mae-or-Freddie-Mac/530934/ 2014-03-04T21:28:00Z Where can I obtain a fixed rate loan to build an earth sheltered home in Tennessee. http://www.zillow.com/advice-thread/Where-can-I-obtain-a-fixed-rate-loan-to-build-an-earth-sheltered-home-in-Tennessee/388178/ <p>No comps for appraisers to use. Need to borrow appx. 50% of total cost.</p><br \><br \>3 replies Wed, 23 Feb 2011 22:36:00 GMT http://www.zillow.com/advice-thread/Where-can-I-obtain-a-fixed-rate-loan-to-build-an-earth-sheltered-home-in-Tennessee/388178/ 2011-02-23T22:36:00Z VA IRRRL?? Can I do it and should I?? http://www.zillow.com/advice-thread/VA-IRRRL-Can-I-do-it-and-should-I/472881/ <p>I have been looking into doing a VA IRRRL loan. We currently have been in our home 2 yrs and have a 4.875% rate. We owe $141,889.19 on the home, with a payment of $1020.85. I would like to reduce the payment amount considerably&nbsp;if possible, but I am not sure this is the way to go. We also have a home equity loan on the house in the amount of $20k which I understand we cannot roll into this refinance?? Advise needed please!!</p><br \><br \>4 replies Wed, 02 Jan 2013 19:56:00 GMT http://www.zillow.com/advice-thread/VA-IRRRL-Can-I-do-it-and-should-I/472881/ 2013-01-02T19:56:00Z VA - IRRRL on newly purchased home http://www.zillow.com/advice-thread/VA-IRRRL-on-newly-purchased-home/516482/ We just purchased a home under the VA program at a good interest rate; we've only made a few months worth of payments so the mortgage balance is still pretty close to what the appraisal on the house was.<br/><br/>Both of us have good credit, last time I checked it was in the 750 range.<br/><br/>I believe the rate was 2.7% on the loan but would need to verify that on the paperwork to be sure.<br/><br/>Is it worth looking into an IRRRL under these circumstances?<br \><br \>4 replies Thu, 24 Oct 2013 02:58:00 GMT http://www.zillow.com/advice-thread/VA-IRRRL-on-newly-purchased-home/516482/ 2013-10-24T02:58:00Z I purchased an 8 unit complex in Memphis that was a bank forclosure. completely rehabbed and fully http://www.zillow.com/advice-thread/I-purchased-an-8-unit-complex-in-Memphis-that-was-a-bank-forclosure-completely-rehabbed-and-fully/512069/ <p>Sorry that got cut off.&nbsp; fully rented. It is actually 8 individual condos but purchased and financed as apartment building.&nbsp; Purchase price $650 k and Loan around $560k.&nbsp; I would like to refinance into long term financing (30+ year fixed).&nbsp; Who can I contact to either refi as an apartment building as it currently is or perhaps as 8 non-owner-occupied condos which it is zoned?&nbsp; Thanks.</p><br \><br \>4 replies Thu, 19 Sep 2013 23:57:00 GMT http://www.zillow.com/advice-thread/I-purchased-an-8-unit-complex-in-Memphis-that-was-a-bank-forclosure-completely-rehabbed-and-fully/512069/ 2013-09-19T23:57:00Z Partner and I are on deed of trust together, loan is in his name. If he refinance will i be on deed http://www.zillow.com/advice-thread/Partner-and-I-are-on-deed-of-trust-together-loan-is-in-his-name-If-he-refinance-will-i-be-on-deed/506105/ 2 replies Fri, 09 Aug 2013 22:17:00 GMT http://www.zillow.com/advice-thread/Partner-and-I-are-on-deed-of-trust-together-loan-is-in-his-name-If-he-refinance-will-i-be-on-deed/506105/ 2013-08-09T22:17:00Z Refinance a physician loan with no money down? http://www.zillow.com/advice-thread/Refinance-a-physician-loan-with-no-money-down/488031/ I have a $0 down mortgage through BoA from 2008. &nbsp;The current market value is about $5k less than the remaining mortgage value and I was wondering which are the best resources or providers for a possible refi?<br \><br \>4 replies Mon, 15 Apr 2013 17:19:00 GMT http://www.zillow.com/advice-thread/Refinance-a-physician-loan-with-no-money-down/488031/ 2013-04-15T17:19:00Z Accidental Landlord Refinance http://www.zillow.com/advice-thread/Accidental-Landlord-Refinance/499304/ I ended up becoming a landlord due to a relocation in 2010 and was unable to sell my property. &nbsp; Job relocation was forced due to lack of IT jobs in the area at the time.&nbsp;<br/><br/>My property has its primary loan and a HELOC. &nbsp;I am looking for some way to refinance this property to cut monthly expenses and roll it all into one. &nbsp;<br/><br/><br \><br \>4 replies Thu, 27 Jun 2013 18:03:00 GMT http://www.zillow.com/advice-thread/Accidental-Landlord-Refinance/499304/ 2013-06-27T18:03:00Z