Can I Refi A modified loan done 7 months ago

Absolutely.. assuming you have no pre payment penalties associated with your current loan, but keep in mind that your home might have to be reappraised (depending on your current loan product), and so long as your value is the same or higher than when you purchased it, you should not have a problem... Also understand that lenders have an obligation to be sure that there is a benefit to you, the borrower.. This "Net Tangible Benefit" is defined differently depending on which loan product your refinancing. This is a requirement to prohibit predatory lending practices. Because every loan product is different, the best thing you can do is contact a local mortgage broker and let him put some numbers together for you and see if there's a benefit to refinancing.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

William's answer is very complete, though I would add that in qualifying, any mortgagelates just as any late payments showing up on the credit report can make it very difficultto get most loans available and at a rate you may want. It could be very helpful for you to at least seek a qualifying review of credit and income from a nmls licensed or not licensed but registered nmls federally chartered bank mortgage consultant, in California.

Pre-payment penalties apply sometimes when someone refinances too soon.You can look through your NOTE on the loan (not the Deed of Trust) and seeif there are any penalties. Your loan was modified which means they did loweryour rate, and you would like to take advantage of the lowest current rates.Typically, these loans are fannie mae or freddie mac, regardless of the lender beinga small or medium sized mortgage bank or Broker or large bank. Thus, qualifyingfor the loans will be similar at any lender though each might have it's own overlayson top of fannie mae or freddie mac guidelines. We do fannie mae loans with onlythe minimum requirements of fannie mae and no overlays.

yes

See William's answer.