I would like to refinance my FHA Hamp modification -partial claim loan
I would like to do a refinance or equity loan on a FHA HAMP modification- partial claim loan. Would this be possible? I have been paying my loan on time and it will be 2 years in February. I live in FL, my home is valued at 265,000 - 270,000 and I owe 138,000 to BA and 49,000 is my partial claim that I will pay in 2044. Any guidance would be appreciated. Thank you. by jkmar28604 from Fort Lauderdale, Florida. Nov 6th 2015
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
It's possible, but with the limited info you provided, we cannot say for sure.. you really need to talk to a local mortgage broker, let him look at your complete loan profile, and then they should be able to guide you.. Typically, if you have done a loan mod, then so long as there was no principal reduction, then you can refinance after 2 years of on time payments... If there was a principal reduction, then it's near impossible.. you would be better off selling your home, take the equity and apply for a new mortgage.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
Ask our community a question.
Get an answer
Related Questions
