Financing in 97701>Question Details

mike_toolan, Home Owner in Bend, OR

I am looking for a short refinance (payoff my lender for less than I owe).

Asked by mike_toolan, Bend, OR Mon May 21, 2012

Does anyone know of a lender and/or program that offers this type of financing? 36 month perfect VOM, high W2, etc. Loan amount is jumbo and above all the HARP program guidelines.

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Hi Mike,

If you are still looking for a lender to complete your Short Refi, we have financed these transactions in the past & would be happy to assist you.

Please feel free to contact me directly if you have any further questions, I'd be glad to help.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required), HARP 2.0 - No Appraisal Required for Refinance for Underwater Home Values, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
0 votes Thank Flag Link Sat Mar 23, 2013
Hi Mike,

FHA has a short refinance program. The mortgage insurance is very expensive, though.

I suggest you contact a local mortgage professional to review your options.

Best regards,

Elva A. Wormley
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
0 votes Thank Flag Link Mon May 21, 2012
As you probably know, we have been going some rough times, the last few years.
A lot, (and I mean a LOT!) of people have tried to find ways to save their homes, and save their credit; but mostly, their homes.

We have seen some pretty creative ideas; all of which didn't work:
The main reason why they didn't work, was the irrefutable, insurmountable fact of the Market Value of their home.

The current thinking is that the Lenders will not lend more than 80% of the APPRAISED VALUE of the property.
You can extrapolate the different possibilities of this, depending upon whether you are a Buyer, a Seller, or a Re-Financer.

Here's my number one question: Have you talked to the LOSS MITIGATION DEPARTMENT at your Lender?

Good luck and may God bless
0 votes Thank Flag Link Mon May 21, 2012
Mike,
If your mortgage is owned by FNMA or FHLMC then you can refinance even if you are underwater.
0 votes Thank Flag Link Mon May 21, 2012
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