Consolidating first and second arm mortgages dating last site

By submitting a post, you agree to be bound by Bankrate's terms of use.Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.Many homeowners have seen success financially when consolidating debt with a mortgage that is tax deductible.In most instances, it makes sense from a financial stand-point to consolidate high interest consumer debt into one low payment.You will be able to find out the interest savings over the life of the mortgage when you consolidate your first and second mortgages and refinance into a single loan.You can also calculate the time period over which the interest savings can offset closing costs.HARP allows homeowners to refinance their mortgages, even when they owe more than their houses are worth.The program was revised recently to increase the number of borrowers who can participate.

Wells Fargo already approves most resubordination packages it receives from first-edition HARP loan applicants, Brown says.

If you can't get a traditional loan approved, the Federal Housing Administration has extended several low fico loans for debt consolidation and refinancing.

FHLR wrote a good article about Bad Credit Refinancing with FHA that is worth reading.

The second mortgage lender typically charges a fee of to 0 to review the package, says Anne Benjamin, chief operating officer at Redwood Credit Union in Santa Rosa, Calif.

The response can take up to six weeks, Benjamin says.

consolidating first and second arm mortgages-39consolidating first and second arm mortgages-25consolidating first and second arm mortgages-48

Bankrate's community sharing policy Bankrate wants to hear from you and encourages thoughtful and constructive comments.

Join our conversation (54 Comments).
Click Here To Leave Your Comment Consolidating first and second arm mortgages.

Comments:

Leave a Reply

Your email address will not be published. Required fields are marked *