answersLogoWhite

0

Yes, it is possible for your mortgage company to lower your interest rate without requiring you to refinance through a process called a loan modification.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Related Questions

Is it possible to refinance a mortgage without requiring an appraisal?

Yes, it is possible to refinance a mortgage without requiring an appraisal through certain programs such as the FHA Streamline Refinance or the VA Interest Rate Reduction Refinance Loan (IRRRL). These programs allow for refinancing without a new appraisal under certain conditions.


Is it always possible to refinance a mortgage?

No, it is not always possible to refinance a mortgage. Factors such as credit score, home equity, and current interest rates can affect eligibility for refinancing.


Is it possible to refinance an ARM with a mortgage company given the credit crisis?

It is possible to refinance an ARM. The options available vary by customer and their history with the mortgage company.


Is it possible to buy a house now and refinance later?

Yes, it is possible to buy a house now and refinance it later. Refinancing involves replacing your current mortgage with a new one, which can help you secure a better interest rate or loan terms.


Is It Time To Refinance?

The goal behind refinancing a mortgage is receive lower interest rates and to have the best lender possible. By following a few mortgage refinance tips a person can do just that. Knowing when to refinance is probably the most crucial part of successfully refinancing a mortgage. For some people refinancing proves to be beneficial, for others no matter when they choose to refinance it is not advantageous. To help a person decide if and when they should refinance they should consider the following: -How long they plan to live in the home -Whether or not the interest rate will be lower if they choose to refinance -How much the closing costs will be for financing their mortgage -How much equity they have built up in their mortgage -Deciding if they plan to do a cash-out refinance In most circumstances if a person does not intend on living in a home for more than a few years refinancing will probably not be beneficial.


Where is it possible to refinance a home mortgage if someone has bad credit?

There are many places a person can go to refinance a home mortgage if they have bad credit. Bad Credit OK and Quicken Loans are two websites a person can use to help refinance their home mortgage.


Is it possible to remove your wifes name of a mortgage?

You would need to pay off that mortgage and refinance in your sole name.


Is it possible to get cash back on a mortgage refinance?

It is indeed possible but you should first determine if refinancing your mortgage will be favorable. You can then apply for a new mortgage after you have decided on the amount of cash that you need.


Can you refinance your home loan more than once?

Mortgage refinancing can be done more then once. When looking to refinance your home loan make sure the closing costs don't offset the possible saving of the lower interest rate offered.


Is it possible to refinance a mortgage within 6 months of purchasing a home?

Yes, it is possible to refinance a mortgage within 6 months of purchasing a home, but it may be challenging to find a lender willing to do so due to the short timeframe.


Can I refinance my mortgage if I have low equity in my house?

Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.


Can one refinance ones second mortgage?

It can be difficult to achieve but it is possible for one can refinance a second mortgage, the following companies offer such services: Bank Rate, SF Gate, Capital One.