cbr600girl asked:


I bought my house in July 2008 in San Bernardino County in California with a rate of 6.25%. I heard rates are dropping into the 4% area. How long do you need to own a home before you can refinance for a lower rate? I have an FHA loan and a neighbor told me that if I call FHA they can simply just switch the rate for me, but that definitely doesn’t sound right.

Sherry

Maybaby asked:


We have a high interest rate due to bad credit. Would refinancing with another company maybe get us a lower interest rate? Would we have to pay closing costs again?

Tracy

magicjumbo asked:


For example, if I owe $200,000 and I have $50,000 equity, when I refinance can I use the $50,000 to pay down the amount owed. The new load would then be for $150,000 and I would have $0 equity.

Calvin

Chad G asked:


I want to refinance my mortgage but I am a month behind on my payment. I can’t seem to get caught up, hence the reason to refinance for a better rate. Do I have to be caught up or will someone let me roll the money owed into my new mortgage? Or is their any other options?

Carla

jonathanzila asked:


I bought my house a year ago, and put 3% down. We took out an 80% first mortgage and 20% second mortgage. Our second mortgage is adjusting and keeps going up every month. I do not want to pay Private Mortgage Insurance, but also do not want to keep seeing my payment go up. How do I find out if I have 20% equity in the house? Should I refinance it?

Sean

kascfairlane asked:


I bought a house in California almost two years ago. Now I need to relocate for a job. I can’t sell my house because the market has crashed and I owe more then it is worth. For the same reason I can not refinance. I need to find a way to lower my payments so I can rent it out. Any suggestions? Please!

Bernard

Mckinney F asked:

I don’t wont to refinance.Is there a other option to reduce monthly payment?

Sean