I recently received a notice of default. Can I refinance now?

It would depend on how far you are behind. There are a few programs available that will allow you to refinance if you are 1 x 30 and have brought the loan current at time of application. I would be happy to discuss further with you. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

Probably not.....could you refinance before you were in default? Did you purposely skip payments? Or did you lose your job or take a huge pay decrease? Perhaps you are thinking of doing a loan modification? Call your servicing bank for that...takes about 3-8 months to complete.

Unfortunately you probably would not be able to. Usually you receive a notice of default once your at least 3 months behind. Most mortgage programs need a 12 month history of no mortgage late, but there are some that allow one 30 day late within a 12 month time span. Although you may be able to get creative if you're married, your spouse is not on the current mortgage, is employed & lives with you in the property. If not, you may want to contact your lender to request a Hardship Package to apply for a Home Loan Modification.

It depends on many factors. Generally, the notice of default is not generated until the loan is 90 days or more delinquent. At this stage most lenders will tell you No, because they are not interested in taking that kind of risk. I would encourage you to begin immediate conversations with your lender. Although there are many "Horror Stories" about people trying to negotiate a loan modification, most lenders do not want to foreclose. I know many people that have been told NO by their lender at 3 or more times before the bank finally said YES. You will need to document you have the ability to pay the modified payment, but don't take No for an answer. If necessary, keep asking to go higher up the supervisor chain. Good luck to you.