Is now a good time to refinance?
This is the first time to own a home and my family is struggling a bit. We live from check to check ever since the pandemic started and we need advice on how to keep paying the mortgage so we won’t lose our home. What should we do? I’ve heard about refinancing and was wondering if now is a good time for it? by lance653 from Aspen, Colorado. Oct 27th 2022
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
Lance - thanks for the post and sorry to hear that times are tight ...current interest rates are likely mich higher than your present rate so it is likely NOT a good time to refinance to lower payment .....you should contact the present lender/ servicer and ask them for options ...they might have a program called FOREBEARANCE that allows you to pause payments for several months ...You can also consider selling the home and renting a lower priced apartment or home
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