information about refinancing a townhouse?
336938
What are you looking to accomplish with your refinance?  Do you want to lower your payment?  Consolidate debt?  Are you in an ARM and you want to refinance into a fixed rate?  Need a little more information about what you want to accomplish.
961524
Here are some options for you.  1) You could refinance your house for more than the current mortgage on it, and use the additional cash as a down payment on the new house.  2) You could buy a new house from a seller who is willing to lend you the down payment, if you can find such a seller.  3)  You could borrow money for a down payment using other collateral, for example, stocks, bonds, or mutual funds.  \n\nHowever, you will need to have substantial income in order to qualify for a new loan in addition to your old loan, and if you have never tried being a landlord before, you may not want to take on that burden.  You may be better off keeping you life simple and just selling the old house to buy the new one.
453448
Absolutely not! Don't do it. Your big problem isn't financial, it's behavioral. Most of the answers you've gotten are from financial types that have logics about least amount of interest, etc, but they're missing the issue that refinancing won't fix your habits, and you'll probably fall under the false perception that your cards are now free for more charging once their balances are transfered. \nBeen there, done that, so believe me, it will happen.\n\nFinish reading Ramsey, he's your answer.\n\nOnce of the respondants did suggest the debt snowball which is one step on the right track. \n\nWe're doing them now and they're working for us. So far we've paid $11,000+ in debt over the last 5 months, and put aside an emergency fund (and we're far from making big bucks)\n\nHere are the steps:\nPre-steps\n-get current on your debts - at least be paying minimums up to current month\n-cut up all your credit cards (yes, all of them.)\n-sit down with your family and explain that you don't want to live like this any more and that you want a better future for them. You guys are sinking and it will take a family effort to surface and eventually swim out of this mess. Once you've got their buy-in ...\n-stop paying extra on any of debts, including extra mortgage payments (we were doing this one) \n-do a simple budget to spend less and save more - we found we were spending Hundreds a month on going out to eat and see movies. Stop all that. Cook in. DVR movies on cable or get them from your library for free.\n-stop contributing to retirement temporarily or any other savings or investment accounts. Yes, even if your companies match - it's just temporary, you'll get back to investing later.\n-adjust your Withholdings through your employer to get more now and less tax return later. It's your money, may as well have it now.\n-have a rummage sale, sell any extra cars, and get out of leases if at all possible - they're a scam.\nNow - the real steps:\n1. Put $1,000 into a savings or MM account as an emergency fund (EF). \n2. Sort all your debts from smallest to largest. Pay minimum on all except the smallest. Attack that one with all the money you've scraped up (except for the EF) and your necessities (food, shelter, trasportation). Once you've paid the smallest, use what your were paying on the first plus the seconds minimum to attack that one. This is known as the debt snowball as it keeps increasing as you go. Keep it going until their all paid. Living frugally is key, during this period.\n3. Now beef up your $1000 EF to 3-6 months of expenses (not income) \n4. Resinstate future and retirement investing to at least 15% (match your companies IRA contribution, and put the rest of the 15% into Roth IRAs.)\n5. Invest in college funds for the kids if you have them \n6. Pay off the home early\n7. Build more investment and retirement wealth and start giving what you can.\n\nHope this helped! Again, don't fall into the trap of using debt vehicles to get out of debt. Pay what you owe. Live on less than you make and you'll get out of this.\n\npbaez\n\nIf you need more ongoing support, join our yahoo group Dave Ramsey http://finance.groups.yahoo.com/group/Dave_Ramsey_Debt_Beaters/
568663
Try contacting your local Housing & Urban Development office or FHA office.  They've got some great programs for first time home buyers available IF you qualify.  When buying a house--look before you leap, measure twice and cut once, easy does it and save for a rainy day are all good rules to follow!  Why?  Just because a house has a great bathroom doesn't make it a great investment--look honestly at it.  Does it need a lot of fixing up?  Are there any hidden things wrong with it?  Get an inspection done by a qualified building inspector before you buy!  Make sure this house is going to fit your need for space for at least the next 10 years.  Most affordable loans are for 15 to 30 years--is there enough room for the family in that time?  Don't want to get stuck needing to add on in a year and not being able to afford to or not having the room to add on because your addition will exceed your property lines!  Don't go into massive debt for a house--yes it's a big investment and a big responsibility, but don't go buying a palace if all you can afford is a mobile home!  Save your money!  Every penny you can save will help you out and help lower your debt--if you apply it wisely!  That extra money from Aunt so & so--add half of it to the next monthly payment.  Put the other half away for home repairs--you never know when you'll need to call the plumber or the electrician or some other repairman!\nGood luck and happy home hunting!
415650
Not necessarily.  The amortization, or repayment, schedule on a mortgage loan can be of differing lengths (e.g., 30 years, 15 years, 10 years, etc.).  It is possible that by refinancing, you would chose a term of the loan equal to the remaining term of your existing loan, and thereby not start over.  One of the reasons to refinance is to take advantage of interest rates that may be lower than your current interest rate.  So it is possible to refinance, get a lower interest rate, but the term of the loan (the time over which you will repay the loan) will not change from your original loan - and it is possible that because you are paying less interest because of the lower rate, that saved money could actually be used to prepay principal, and thus allow you to pay the loan earlier than you otherwise would have.
32024
Refi may not be your best option. If you plan on staying in the house for at least 2 more years, get a home equity loan to make your improvments. Costs are less than a refi and you get the money sooner.\n\nYou say you may sell soon. It's important to note that it's hard to recoup your costs of selling in a two year time frame (depending on where your home is located). The East and West coast areas of the U.S. have appreciated alot in recent times.\n\n\nMaking improvements to a bath and kitchen are smart for resale. When thinking about improvements only make the ones that will pay you back $2 for every $1 invested.
1072822
Check your Note for the 2nd mortgage you're trying to refinance carefully.  Many 2nds have prepayment penalties!!!!  That would make any changes probably not worth it, as they're usually somewhere around 6 months worth of interest in the first year.\n\nI would say, if you qualified for the first and 2nd to begin with you could probably qualify again, but I'm assuming your financial information has changed in the month since you purchased and this may not be the case.\n\nDid you purchase the house for under appraised value?  It would be extremely rare for a house to appreciate in the first month, although some areas of the country are moving up quite fast.\n\nI don't know if there is any good answer.  The best thing you can do is go back to  your original loan agent and ask.  It can never hurt and they're always willing to try to make things work and make their commissions!
252799
Not that I know of, most HUD and VA loans are for the full Purchase Price of the Home. Now, what you may try, talk to a Bank Loan Originator and see if you maybe able to Refinance the Home through HUD adding on the Additional Equity you are wanting, in the Form of Energy upgrade improvements! Does not cost anything to Ask. Many Banks may offer you a deal too just to get your Business. Basically all HUD and VA loans do is get a person into the House for less upfront money, they really not have a Special Interest Rate as most Banks offer good rates because of the Competition. Also, I would say the now you want a Fixed Rate Mortgage, a Variable rate can move up and down with the Prime Rate and right now about the only direction the Prime may move would be up.
169718
Im not sure if you happen to live in the baystate (massachusetts or even New hampshire or RI) but baystatelending.com is awesome- put in your info regardless of whether or not your from the area and they will probably refer your information to another lender who could get you a loan
658369
There are some really good answers here.\n\nAs a former mortgage loan officer I would add to shop for your mortgage.  Your Buyers Agent will probably have their favorite lender but don't let them bully you on this.  \n\nPull your own credit bureau reports from all three national bureaus, (Experian, TransUnion, & Equifax) before you start the process and be sure that everything is reported as it should be.\n\nTake the credit reports with you when you visit different mortgage brokers or banks.  Don't let them pull new ones until they have Pre-qualified you (using yours) and you are ready to proceed with them as your lender.\n\nUnderstand that there is REALLY no such thing as a no closing cost mortgage.  The question is how you pay them.\n1. The lender can pay them but they do so out of what is called Yield Spread Premium--this is extra money their money source pays them for delivering your loan at a higher interest rate.\n2. You can pay them out of your pocket, mostly at the closing table.\n3. They can in some cases be rolled into the loan--this particularly applies in refinances.\n\nThe best choice for you depends on how long you plan to be in the home--or at least in that loan.\n\nThe way rates are trending now do NOT even think about any type of adjustable rate mortgage--you will live to regret it if you get one now.  TELL them Fixed Rate or nothing!!!  If rates improve enough in the future you can always refinance.  But with a fixed rate the only thing that can change is your property taxes and/or your home-owners insurance.  Your Principal and Interest payments will stay the same.  \n\nIf you can afford to do so get a 15 year fixed rate mortgage rather than a 30 year (by far the most common.)  Have the mortgage guys show you both and then play with the calculator.  The long term savings are enormous.  Just don't over extend to get it.  \n\nBe smart and buy below your limit.  I you don't live below your means you will never prepare for retirement.
927664
Talk to your bank, and talk to a loan broker.  I have used both with good results.  Your real estate agent should be able to suggest a good loan broker; that's how I found mine.  He put together a reasonable package (it wasn't cheap), and two years later we refinanced into a much more reasonable mortgage.
961458
You dont need to send a letter.  Just go into the bank and tell them what you need to do.  You also dont have to refi with the bank you have the loan with.  You can go wherever you want.  Just make sure you know what the current payoff amount is.
868386
Go to your bank, find out about home equity loans, you will have to know if there is equity in your house though, also refinancing, you can go to yahoo and find out also google, but your local bank should have something that you can do. or either the mortgage company you are with. give them a call, they should also be able to help you with that.
298114
Did you get quotes for the homeowners insurance?  You can find a local agent here: http://www.findlocalinsurance.com\nAt the settlement table make sure to question everything.  They are supposed to go over all the fees and interest rates with you.  Make sure everything is exactly what you had expected.  Once settlement is over, its very hard to get corrections.  Good luck with the new house!
779041
Refinance and pay off debt and get additional money from your equity.\n\nCall my motgage guy, Glenn Silvera compedative rates has done 3 loans for my family..  office 561 683 9168  or  \nCell 561 309 5539, he hates when I give that out hahahahahaaa\n\nAt the very least you should call him and laugh then hang up!!!!\n\nDo It!!! \n\nIm evil...
650565
Contact the tax collector's office. They may be able to set up a payment plan for you.\n\nIf the property is your primary residence, you may be eligible for tax credits, tax exemptions or a tax abatement. Most states have a homestead exemption, which will lower your overall property tax. Other tax relief may be available for the elderly, the blind, veterans, widows/widowers, and the handicapped. You need to contact your assessors office or county appraisers office for more information on available exemptions.\n\nAlso, check to see if your home is eligible for credits, abatements, refunds, etc for things like solar heating, wood heating, etc. Again, contact your assessors office.\n\nThe county/town does not want to own or auction your home. It is bad press to put a person or family out in the street, and the government is usually eager to help. It does not hurt to gently remind them.\n\nGood luck.
667738
You would need to contact local government. It isn't easy to get property rezoned. It has to be publicly announced, like in the newspaper, and if anyone objects it can be a huge legal hassle. If I were you I would make friends with the people who will make the decision, like the city council. Make some phone calls to them and shmooze them a bunch. You need to get a good idea of what you'll be up against. There may be other developers who have interest in the property who can try to block your efforts, and if they have more money to invest in the community than you do . . . see what I mean? You want to know that before you spend any money at all.\n\nI know all of that sounds like overkill, but I've seen it happen. Even in a small town things like this can be really complicated. It may well be that you'll have no problem at all, but if I were you, I would talk to all the council members personally before they put it to a vote.\n\nOh, and I can't see why there would be any fees associated with this, other than that you'll have to pay to have an engineer design everything and draw it all up, prior to presenting it to the city council. That could potentially cost you thousands of dollars, because it is a hefty job. It will have to include detailed plans for your proposed structure, and they'll need to know details on what you'll need as far as utilities, anything you can think of.\n\nThe first thing I would do is call and charm the right secretary. Then you'll have a friend in the right place to explain the entire process to you.\n\nThis is a tricky venture, because you don't want to buy a property that can't be rezoned the way you want. You need to know all about the scenario before you pay someone to engineer it, which you have to have done before you can get it rezoned, but you can't have it rezoned until it belongs to you.\n\nRezoning can be very, very tricky. Get the picture? Unless you really know what you're doing, I would proceed with caution. BUT, everyone starts somewhere . . .