Mortgage question?

Does anyone know if there are any programs that would allow us to refinance? We are currently in a 30 year FHA loan, on time and not underwater. The issue is I lost my job at the end of June and we got the mortgage based on both of our salaries--mine being the higher. I have not yet found a new job but we are so anxious becasue rates are so low and it would be a SIGNIFICANT reduction in our monthly payment....any ideas? we did call our old broker but I think he is to obusy to work with us as he never called us back!!!

Mortgage question?

Can't you just call any lender and refi?

Mortgage question?

That would be great but I don't think so since I am unemployed so in order to refi the mortgage I'd have to submit salary info and my concern is with me not back at work we won't get the mortgage ,I'm not sure if that makes sense but maybe I am wrong?

Re: Mortgage question?

we just refinanced our FHA mortgage the end of last year using an FHA streamline refinance. my DH had been out of work within the last 2 years so i was concerned about how that would work. our mortgage lender said that they record the salary and work information but do not re-evaluate whether or not they think you can afford the mortgage. we had to provide 2 years of proof of income (unemployment counts) but i am pretty sure they did not do any calculations based on our debt to income ratio.

we refinanced with citibank. FM me if you have any questions. it was a rather simple and easy refinance.

call your current lender and inquire about the FHA streamline refinance. as an FYI, not sure when your mortgage originated, but they recently increased the mortgage insurance bigtime. i forget the % increase, but it's pretty significant.