The federal government continues their push for rate and term refinancing and it appears they will not let something petty like equity get in the way
of qualifying for a refinance loan.
But many homeowners can't
qualify for refinancing because their homes are «underwater» — the value has dropped far below the amount that they owe on their mortgages.
You may not
qualify for refinancing based on your credit history but it will depend on the lender and whether or not your financial problems have negatively affected your current mortgage.
Some of those millions of homeowners may not have realized that refinancing was an option, or may not have
qualified for a refinance because of their credit scores or income.
Student loan refinancing from a private lender could help you avoid default, but keep in mind that you'll need to
qualify for a refinance loan.
You must pay on their original FHA mortgage for at least 210 days, before qualifying for the refinancing
Recasting works well for those unable to
qualify for refinancing amid the ever - toughening credit guidelines — perhaps because they are self - employed or have less - than - stellar credit — as well as for those with extra cash, like a year - end bonus.
The Home Affordable Refinance Program (HARP) allows borrowers may not otherwise
qualify for refinancing because of declining home values or reduced income (DTI of 65 percent), the ability to refinance their mortgages into a lower interest rate and / or more stable mortgage product.
The revamped HARP refinance program provides more homeowners, who may not
otherwise qualify for refinancing because of declining home values, the ability to refinance into a lower interest rate and / or more stable mortgage product.
First off, ELFI offers cosigner release of existing education loans to approved borrowers
who qualify for refinancing based on their own credit and financial profiles.
However, borrowers who use a cosigner to
qualify for a refinanced student loan initially do not have the option to request a cosigner release at any time during repayment.