Sandra D asked:


I just found out that the loan that I refinance two years ago is a “ARM” loan. I do not think that I can refinance, because of the mortgage crisis. I have never been late. Somebody sugested doing a “modification” how can I do that. Do I need a broker or can I just negotiate with the bank.

Caffeinated Content

Jess asked:


I live in Texas (homestead state) & I’m in the middle of a divorce. I’ve been awarded the house temporarily. The problem is; the house has an ARM loan and the pmts keep rising. With spouses permission, will the law let me refinance the house before the divorce is finalized? He wants to sell, but I want to keep it.

Edgar

needknow asked:


I borrowed a $300, 000 house with 20% down payment and a 5/1 ARM loan. The current sale price of the similar house is $330,000. I am wondering if I refinance the house, how many I have to borrow from bank: $240,000 [$300,000 (sale’s price) - $60,000 (my downpay)] or more (330.000 - $60,000)?
Thank you very much in advance.

A confused lady.

Yvonne