Forgotten Your Password?

Need to Register?

Question Icon

Can I refinance my home mortgage after I got a loan modification?

by JConnor from Stillwater, Oklahoma. Mar 20th 2013 Reply


Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Will the refinance you are looking at have better terms than your existing modified loan terms, after closing costs?

Mar 20th 2013
0
0
Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes, but it depends on what went on with your modification, if you were late at all on payments, and ultimately what you are trying to accomplish like shortening the terms or just getting a better rate. Talk to a Lender411 loan officer to evaluate your situation.

Mar 20th 2013
0
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,243 contributions

It may also depend on how long ago your modification was done.

Mar 20th 2013
0
0
Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

The rule I understand to be - must pay on the loan modification for 36 months before you can refi out of it. WWW HOMEMORTGAGEXPERT.COM Peter Savino

Mar 20th 2013
0
0
Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Yes depending on the circumstances.

Mar 20th 2013
0
0
Abdi Mohammadian (mohammadian)
#860 ranked lender in California - 33 contributions

You can do it but all deponds on your situation.

Mar 20th 2013
0
0
JOE GARRETT (www.Texaslowcostmortgage.com)
#46 ranked lender in Texas - 18 contributions

I would say probably not. You really shouldn't be able to get a better loan than the modification you rec'd anyway:)

Mar 20th 2013
0
0
JOE GARRETT (www.Texaslowcostmortgage.com)
#46 ranked lender in Texas - 18 contributions

I would say no. Any loan you receive today should be worse than your modification anyway:)

Mar 20th 2013
0
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,970 contributions

Generally speaking, yes. But you current lender is not likely to do it.

Mar 21st 2013
0
0
Subscribe to our news feed.