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can I refinance if Im 2 months behind on my mortgage?

by hallb_296_802 from Atlanta, Georgia. Apr 16th 2013 Reply


Barb Lanis (BarbLanis)
#1 ranked lender in Illinois - 579 contributions

You will not likely be able to refinance with anyone other than your existing servicer. You may also want to look into a loan modification instead since you are having trouble making your payments. A loan modification is a little more challenging, but as long as you follow your lender's checklist of necessary documents to the letter, you may have success. Obtaining a loan modification will be entirely up to you, the servicer will not be guiding you. Be prepared for that.

Apr 16th 2013
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#1 ranked lender in

No, you'll need to be current and then not be late for 12 pmts before you're able to refinance.

Apr 16th 2013
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Charlie Sparks (CharlieSparks)
#10 ranked lender in New Mexico - 373 contributions

At worst you should have no more than 1 payment no more than 59 days late within the 6 - 12 months prior to applying for a mortgage. Other factors, such as your credit score, will also be a factor for approval.

Apr 16th 2013
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Dave Metsker (DaveMetsker)
#1 ranked lender in Oregon - 2,004 contributions

Very difficult.

Apr 16th 2013
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Benjamin Bote MLO-310327 (Benjamin)
#41 ranked lender in Oregon - 19 contributions

Not possible with any reasonable terms.

Apr 16th 2013
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Carlos Figueira (carlosfigueira)
#0 ranked lender in New Jersey - 177 contributions

No, you need to bring loan up to date. Once up to date you can obtain a FHA refinance with no nore than 1 x 60 in last 12 months. Good Luck.

Apr 16th 2013
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Team Best Mortgage Option (TeamBestMortgageOptionAtAmbassadorFundingLLC)
#31 ranked lender in New York - 1,960 contributions

Most lendres would require you to be current at the very least

Apr 16th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

most lenders will require you to be current on your mortgage.

Apr 16th 2013
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Ed Craine (ecraine)
#282 ranked lender in California - 18 contributions

Trying a loan modification is a good idea. You can try it on your own or thru an organization like naca.If you're looking for a short term fix and have good equity, you might try a private loan. If you can find one, it will be more expensive than a conventional loan.Good luck.

Apr 17th 2013
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