hello i am lana. i am 75 and when my husband passed 3 years ago it became difficult for me to carry the monthly on my own. we have owned the house for 10 years - bought it after retirement. i have life insurance money as well as some social security left over and aside from the mortgage don't have any debts. my credit score was a 735 last my husband told me (yes i have not checked in such a long time) but i can't even remember the last time i used a credit card. despite my large savings the monthly is difficult because i wanted to put money away for children and grandchildren, and i raise horses. it is very costly! am i eligible for a refinance at this point to lower the payment? by savethehorses_186... from Blackfoot, Idaho. Sep 10th 2013
More info would be necessary to say for sure based on your exact scenario.. but in general, you can refinance regardless of how old you are, and it's also possible depending on the amount of equity you have, you might qualify for a reverse mortgage which would eliminate the monthly payment altogether.. contact a local mortgage broker who specializes in reverse mortgages and meet with them.. once they see your complete profile, they can properly advise you which way would be best for you.. 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. 480-287-5714 WilliamAcres.com
HI Lana,It is highly possibl;e that you can refinance, however you may want to consider a reverse mortgage which will eliminate your payment completly. I can send you some information if you would like.Ron Pippin801-628-7667
I am a reverse mortgage specialist, that is all that I do. Depending on your mortgage debt, the property value and your cash savings, I very well may be able to arrange a mortgage with a payment you can afford, even if you have little or no credit. Please contact me, Dave Metsker at 503-620-2239, or primefinancial@frontier.com.
Yes, it is possible and Blackfoot is a wonderful place to live. My parents actually live there and I grew up in Poky. Call me when you get a moment and I can help you with your situation. Call me on my cell at 801-971-6901 and my name is Carlo Sanchez. Thanks
You should talk to a local reverse mortgage specialist...
Yeah I think a reverse mortgage may be your best bet if there is equity in the property.
You may be eligible to refinance, however we would need more information to determine that. Contact a local mortgage specialist for a quote. You might also want to look in to a reverse mortgage, with which you will no longer need to make a mortgage payment at all.
yes you are eligible for a refinance, depending on your income and debt ot income ratios.if your currently FHA, your can do a streamline refinance with or without an appraisal , no income verfication.if the property is currently a Fannie Mae or Freddie Mac loan you can utilize the HARP program.you can also do a VA refinance up to 100% of the value if the your current loan is a VA loanfeel free to email me with any questionsemarez@thefederalsavingsbank.com
If you have equity in the property, you may want to consider a reverse mortgage, otherwise, you may be eligible for a refinance depending on your debt to income rartios. i would contact a local loan officer.
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