Mississippi - trying to refinance????
BYRAM MS 39272 7/24 12:15 - just spoke to a mature man looking to refinance. I can't help him with a modification because he makes too much income. Monthly Income - SS $1009 (age 65), pension $5400. Lender GMAC Interest Only (Adjustable) - currently at 7.375% owe $176,000 payment $1645 (escrows $67.00 per month. Had rolling 30 day lates just caught up. Wife had medical condition reason for lates. Non Fanny -, need to check if Freddy? . Can this guy qualify for any type of refinancing? Zillow shows value http://www.zillow.com/homes/148-country-bend-place-BYRAM-MS-39272_rb/ by Mod.Specialist from Hauppauge, New York. Jul 24th 2012
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
OUCH.... mortgage lates are a Killer... If he is a military veteran, there might be a way to refinance his loan, but other than that.. he's got several years of good credit before he can refinance... 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
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Late payments on a mortgage, rolling or otherwise are deal killers. Even for HARP. It is likely he will need to wait for his credit to clear. HOWEVER. GMAC should be willing to modify him into fixed P&I payment. I know many individuals that have been helped out of I/O and into P&I, and some have had rates slashed too. I don't lend in Mississippi, and don't have connections to refer you to, sorry. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
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