Question Details

Robin, Home Seller in Rocky Hill, NJ

My husband and I would like to refinance all our mortgages into one payment.

Asked by Robin, Rocky Hill, NJ Sat Aug 23, 2008

These mortgages all together total about 590K. We make excellent income (150K combined yearly), but have had a hard time keeping up with all the multiple payments due to some past problems and have affected our credit rating. We feel if we can consolidate the payments and have a fresh start this would turn things around for us. Is this scenario still possible in todays housing situation and if so , where do I start. We would rather not sell our home to get a fresh start.

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Without seeing your credit score and finacials it is impossible to say 100% however if you are talking about combing mortgage payments on the same property like a 1st, 2nd and 3rd mortgages it would depend on the appraisal of teh property an dthe rate would be determined by your credit score. i would start with your mortgage company who holds your first mortgage and also seek out a local and trusted mortgage broker who should be able to give you the answers when they look at your financials. Goo dluck Robin with your refinance.
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