Can I Really Not Refinance?
I would like to refinance my mortgage in order to get a low fixed rate, I have talked to one loan brokers and Wells Fargo who owns my loan, because its not owned by Fannie Mae I can't do anything to change the terms as per Obama's plan. Is this true???? by michael398 from Hollywood, California. Jul 29th 2010
Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions
That isn't necessarily true. The program they're talking about is a special program for people who have little to no equity, sometimes even upside-down in their mortgage. Is your loan owned by Freddie Mac instead, maybe? They have a similar program. What kind of mortgage do you have now? And, do you know what your Loan to Value is, even roughly?
Matt Davis (Matt Davis)
#151 ranked lender in California - 52 contributions
Hi Michael,Even if you have no equity there may be programs that will allow you to refinance. I would be more than happy to go over the details to let you know what your options are, contact me anytime at Matt@pierwestcapital.com or 888-PierWest(743-7937) X 701Best,Matt Davis
Donald Richards (fha203krehab)
#18 ranked lender in New Jersey - 5 contributions
Freddie Mac offer a streamline refinance to lower your rate.Get your loan number and go to freddiemac.com and searchthe programDon Richards973 452 8814
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