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Notice of Acceleration and Refi?

I might be able to avoid Acceleration, if I can get caught up by Oct 8. I really want to keep my home, my kids were born here. If I cannot avoid Acceleration, will another lender be willing to refinance me? I owe only 113,000 on a house valued at 160,000 to 180,000, with a credit score of about 630.And if not, what will bankruptcy do for me? by CSWolffe from Salt Lake City, Utah. Sep 27th 2009 Reply

Joshua Crater (
#204 ranked lender in California - 47 contributions

I would recommend trying NACA's Home Save Program for At-Risk Homeowners. NACA is nationally recognized in permanently reducing interest rates to an affordable payment for thousands of owner-occupant non-investor homeowners. All services are free. Here is the Link -

Sep 28th 2009
Tim Bradford (Tim Bradford)
#6 ranked lender in Ohio - 145 contributions

Based upon the value of the home, the mortgage balance and your credit scores it would sound like you would be able to refinance the loan into an FHA loan. Issues that could affect your ability to do this your ability to document your income or any recent late payments. Because you say "Get caught up" I suspect you might be late on your payments therefore that is an issue. If you are not working with a housing counselor now, I would suggest that you contact one. There are many city, state and federal endorsed counseling agencies that may be of assistance to you.

Sep 28th 2009
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