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Refinancing- anyone do it recently

Posted By Message

Serendipity
Summer!

Member since 4/07

7631 total posts

Name:
PrayingWishingHopingALOT

Refinancing- anyone do it recently

How did it go.
Does anyone know how the refis are going esp now with the house appraisals dropping.

Posted 5/18/10 8:19 PM
 
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LIFamilies Business

Member since 3/10

28 total posts

Name:
Thomas Lupski

Re: Refinancing- anyone do it recently

Serendipity,

I am a Mortgage Broker is Hauppauge and the truth is that every situation is different.

When you have no control over something such as (appraisal value) then you must compensate in another way (more options). You have to be creative in this industry and know your way around the mortgage products. I aim to give a borrower at least 2-3 loans scenarios that they can qualify for. Ultimately the borrower will make the decision.

Rates are low and many people are surprised at what they qualify for. Dont sell yourself short!

Have a great day!

Thomas Lupski

Posted 5/19/10 5:45 PM
 

cutie
LIF Adult

Member since 2/06

1893 total posts

Name:
Janine

Re: Refinancing- anyone do it recently

We tried to refinance a few months ago, but the appraisal came in over $100,000 less than we paid Chat Icon so unless we wanted to come up with extra $$ to put down, it wasn't happening.

Unfortunately, you don't find out until after you pay for the appraisal.

Posted 5/21/10 5:52 PM
 

Serendipity
Summer!

Member since 4/07

7631 total posts

Name:
PrayingWishingHopingALOT

Re: Refinancing- anyone do it recently

Posted by cutie

We tried to refinance a few months ago, but the appraisal came in over $100,000 less than we paid Chat Icon so unless we wanted to come up with extra $$ to put down, it wasn't happening.

Unfortunately, you don't find out until after you pay for the appraisal.



Yea see I am afraid that will be my problem. Was the appraisal 100K less than what you bought the house for or what you mortgaged?

Posted 5/23/10 10:51 AM
 
 

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