San Francisco Condo Refi

It's going to be tough because your loan is not owned by Freddie/Fannie, you have a limited amount of choices.. One is to go back to your existing lender, (bofa) but you're saying they won't work with you, so your only other option is to pay down your mortgage to 80% Loan to Value.. But this could be a problem with certain lenders (lenders don't really like condos). With this you can go just about anywhere that will do 80% rate and term refinance transactions... The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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

Sorry, there is nothing that I know of that you can do except keeping trying to get Bank of America to work with you. All the best!

I have an Idea. Let's say the property were to appraise for $825,000. I would be able to get you a new first mortgage of 80% of the value which would be $660,000. and we would arrange the B of A second to "subordinate" to the new first for a remaining amount of say, $82,500.for what we call a combined loan to value of 90% This would entail you paying the second down by about $37,500, and the first by about $6,000.. Rates are very low even for this size first mortgage, and I could arrange it for no points and no cost.If you contact me, I will provide quotes and additional information to help you. Jedd Nabonsal JeddNabonsal@gmail.com Cell 310 433 1703 Pinnacle Bancorp Los Angeles California

Short of paying down your balances, you are pretty much stuck. Larry is right. BofA has no incentive to help you because you are paying on time. Until a HARP type program comes out for non Fannie/Freddie loans, which is much rumored, but to many of us, very doubtful, you are likely stuck with the loan you have. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950