How hard is it to refinance my house?

Stefani
I purchased my condo 2 1/2 years ago with no money down. My mortgage is $ 4000 per month and I can't afford to keep paying that right now. I 've never missed a payment . I need my mortgage to be lowered to $ 2500 or $ 2000 per month. But my credit isn't the greatest . I make $80, 000 per year. What can I do ?

Carley
You might want to consider a loan modification to your current mortgage. Call your mortgage company, request to speak to the Loss Mitigation Department.They can assist you with reduced monthly mortgage payments or any other things within their guidelines that might help you during this time.Your interest rate would have to be reduced dramatically to obtain the level of monthly payments you want to make. You must have gotten a no income verification mortgage.I hope this has been of some use to you, good luck."FIGHT ON"

Claribel
Go to Wells Fargo, they are the best when it comes to refinancing. No matter your credit score. If you can afford to, you can purchase lower points to get your % rate down. Which in turn will lower your house payment. Good luck!

Holley
You may have to sell and by something more in your budget. I can't imagine that refinancing would lower your mortgage by half.

Gina
To refinance they will do another credit check and then let you know if you can do it or not.