My father passed away about 7 months ago, my mother ( who is not officially on the mortgage) has been making the payments on her own, however she is struggling and we don't think she can keep it up much longer. We want to keep the house, what are our options for lowering her monthly payment?
New York,NY | Dec 20th 2010
by jessebm...
Answer
by toddt@m...
by Gregory...
Hi Jesse, we will need to review all of the details such as income, credit, and who currently lives their to get a better idea of qualification. Depending on the current loan details it is very possible to lower the payments with a refinance transaction. Please let me know what your contact number is and we can discuss. My direct line is 631-446-3103. Thanks- Greg Dec 20th 2010
by Joe Shamie
As long as your mother is on title and can document enough income to qualify, refinancing could be a very good option for her to lower the monthly payments on the loan. We would need to compare what she is currently paying to what her new payments would be with a new loan and determine if she would save enough to make the transaction worthwhile. If you want to discuss the details, please call me at 877-662-3321 x-102. Joe Shamie. Dec 20th 2010
by CaPortf...
Even if your mother can qualify on her own or with you as a non-occupying co-borrower, I suggest looking into a Reverse Mortgage. .... It will depend on your mother's age and the amount of equity in the property to see if she qualifies. .... No credit, income or health requirements. She would be mortgage payment free. .... There's good info on www.aarp.comHappy funding, Rudi Dec 20th 2010
by rcco7782
|
|
