Looking to refinance but have been sent on a assignment in UK for two years so rented the house in USA - can

Asked by Tony, Raleigh, NC Tue Jan 20, 2009

Looking to refinance but have been sent on a assignment in UK for two years so rented the house in USA - can I refinance what will the challeges be - should I just take the pain of higher rates or can i refinance from UK for house in US. ALso is it better to refinance with current lender or look at the whole market?

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Melissa Albe…, Agent, Wake Forest, NC
Tue Jan 20, 2009
Hello Tony,

It's a great time to refinance and you should not have any problems with being in the UK. I am a loan originator with Alera Financial and will be glad to talk to you about your refinancing options or provide
you a list of loan officers. Best of luck!

Web Reference:  http://www.melissamoores.com
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Wendy Norman, , Raleigh, NC
Tue Jan 20, 2009
Faxed signatures are legal in NC (and some folks may be able to authorize digitial signatures), so I wouldn't anticipate that it would be an issue at all for the beginning stages of the refinance. You may need to check with your lender on timelines that may affect when the loan closes (overnight mailing, notarizing any needed pieces, working with an attorney here who will record it at the courthouse, perhaps finding an attorney there in the UK??). I usually suggest that clients talk to at least 3 different lenders to get a feel for the best rates and best service. You'll probably want to work with someone who's had experience with closing loans long distance...and sometimes the best rates don't get you the best service. I have the names of a few lenders that I work with if you're interested or if you'd like more information. Dan Flynn with FM lending dflynn@fmlending.com 919-785-4238, Sheri Rimel with Residential Community Mortgage (a branch of Wells Fargo) sheri.rimel@residentialcommunitymortgage.com, & Andy Borter with Primary Residential aborter@primeres.com. Depending on the loan type you have, there may be more/less paperwork to navigate. Hope that helps!
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Patty Woolf, , Asheville, NC
Tue Jan 20, 2009
There is no harm in investigating a refi so absolutely, check it out! Best wishes in UK
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Steve Henion, , Raleigh, NC
Tue Jan 20, 2009
Having rented the house is an added bonus and the income can be credit to the debt/income ratios. Its a great time to refi and credit is available with score requirements coming down. A great mortgage company to call is Integrity Mortgage and ask for loan officer Brian Kenedy 919.602.2335 and tell him Steve sent you - good luck!
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Marty S, , Irvine, CA
Tue Jan 20, 2009
As long as your income and assets, along with your credit, meet the loan requirements, there should be no issue with you refinanicing. You may have to play a little extra for a local Notary, but you should still be able to take advantage of low rates.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
877-238-6324 FAX
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