fm1017

Hello Hoping for some refin advice. I have been in my condo for a little over 2 years; no lates and probably what I owe is what its worth. I probably have lost 34 - 40K in value I desperately want to refi; I am paying 7.5% right now but anyone I speak with says I need 20% equity. I have a BK from 2005 (did nt include foreclosure) my score is 680 and I have a good job with good income I checked the Fannie Mae site and it says they back my loan but I spoke with a broker and she said they didn't. I was interested in the Making Homes Affordable Program I talked about a modification but am not eligible because I am not delinquent I just cant believe that someone who is current and good payment history can't get refinanced somehow Any advice?

I closed on my new condo this past Friday and I have to give a big thank you to Cedric and the mtge professional Mary Haas at Freedom Mortgage. I have to admit with all the unrest in the market right now I was a nervous wreck and I am sure I was a pain - but the closing went smoothly and I am now in my new home. Thanks again to Cedric; this is the second time I have worked with him. He refinanced my house last year as well. Anyone who needs a GREAT mtge pro please call Cedric - you wont be disappointed.

I needed to put down $2500 on a $264K property and they would have liked more but I didn't have it. With the market I think your in the drivers seat to put down what you can. I would let your realtor know up front when you are looking so there aren't any surprises

sorry I didn't intentionally mean to leave it out but this is for Massachusetts I think the rate will be lower; this is the initial GFE.

the rate hasn't been locked in yet - it wont be longer than 30 days

thanks for the replies My goal is to try and refi in a year - hopefully my scores will increase and I want to try and get rid of PMI. Would you take the higher rate without the origination point or the other way?

thank you - I have been asking the wrong person

sorry to be a pest but the buyers title company right?

I am an EA1 - expanded approval are your answers still the same?

OK so I recevied a letter requesting info on my mtge etc from my buyers title company representing GMAC Mtge (who they are getting their mtge through) they have asked for info regarding who holds my current mtge and have asked for a real estate taxes bill; this is who I should get the Preliminary HUD through? will they charge me for it? thanks

Hi I am in the process of selling and buying. I am using the moeny from my sale for downpayment and reserves etc. My mtge broker for my new purchase is asking for a Preliminary HUD statement and if I dont get it we cant close on the new house the same day we close on the sale. My RE broker for the sale of the house said she has never heard of this and typically the HUD stmt comes out 24 - 48 hours prior to the close. I have also asked the RE broker for the house I am buying and she said the same thing. Can anyone advise me - I understand the RE broker having the sale price and commision but she at this point doesn't know my payoff amount (at least I dont think so) My mtge broker isn't in the same area of the country as I am - is this specific to certain areas in the country? Can anyone let me know if this has happened to them and how they handled it - I think I am going ot be homeless!!!

Hello I am a Level I and make about $92000 per year thanks

Hi can you look at this GFE it is for a condo purchase 30 year fixed 7.625% My mid score is 666 - I was 2 years out of BK in May 07 I am putting 10% down and getting $7500 from seller and I have put down $2500 in earnest money The price is 263900 801 Loan Origination Fee - 1% $ 2375.1 803 - Appraisal - $350 804 - Credit report - $20 809A - Tax Servicing Fee - $101 810A - Processing fee - $499 811A - Underwriting Fee - $95 815A - Courier Fee - $55 816A - Flood Certificate - $26 820A - Document Prep Fee - $250 1101A - Settlement or Closing Fee - $300 1102 - Totle or Abstract Search - $175 1104 - Title Insurance Binder - $1200 1114A - Additional Title Fees - $150 1201 - Recording Fee - $1500 1202 - Local Tax/Stamps - $1500 Prepaids - $1249.54 total at closing - $10745.64

Hire a professional stager My house was on the market for 3 months - a lot of showings even a few low ball offers. I brought in a professional stager and did everything she told me to do and my house sold in less than a week. I know it might sound crazy but it worked for me.

thanks Fla tan - when you say I can't go conforming until May that would be 3 years post BK - is it 3 years before I can go conforming? If I dont have a ppp how quickly can I refinance? thanks