Asked by Brian Mri, New York • Thu Jun 14, 2012
I live in a 3 family house that we had bought 3 years ago with a 5 year arm fedral loan for 1.2 mil. Two apts are rented and I live in the third apt. I applied for refinance and the application was approved for 30 year term at 4 %, also with Federal loan, but for some reason I am not able to close. The loan officer can not give me a good excuse. The value of the house has dropped to 1.125 mil. Would anyone have advices as how would I proceed with refinancing this thing. thank you
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