can you refinance if you have a lien on your home?
442288
You can't legally sell a property with a lien against it. Although you're not strictly prohibited from refinancing, it can be extremely difficult to refinance your home under these condiions. In addition to these restrictions, you could also be restricted from getting approved for a mortgage in the future.
590176
A reverse mortgage refinance consists of refinancing the current reverse mortgage into a new reverse mortgage utilizing the current up-to-date terms and guidelines. It doesn't always make sense, but in some cases, it can mean more proceeds for the borrower. ... A reverse mortgage can be refinanced for a variety of reasons.
1357248
It might be worth it to refinance for 0.5 percent if you plan to keep your mortgage for the next five to ten years, or longer. Remember, when you drop your rate less you save a little less each month. So it takes longer to recoup your closing costs and start seeing real benefits.
1013925
The FHA Simple Refinance allows homeowners to go from their current FHA Loan into a new one, whether it's a fixed-rate loan or an ARM. This refinance is the most straightforward, and there is no option for cash-out.
1148382
A second mortgage is a loan or line of credit you take against your home's equity. ... Refinancing allows you to access equity without adding another monthly payment. However, you'll also need to pay more at closing to finalize your new loan. Cash-out refinances are best for consolidating large amounts of debt.
1163743
Rolling your HELOC into your current mortgage is possible through cash-out refinancing. With this option, you take out a new mortgage for more than you currently owe on your home and take the difference in cash to pay off your HELOC.
837580
The four ways to refinance a HELOC are: requesting a loan modification, opening a new HELOC, getting a new home equity loan to pay off your HELOC, or refinancing into a new first mortgage. Each strategy has pros and cons that homeowners should take into consideration in choosing the one that's best for them.
526608
Your HOA cannot directly kick you out of your home. There is a bit of a legal process. ... If you fail to pay fines or HOA dues, the HOA can put a lien on your house for the dues and fines and lawyers fees owed. You cannot sell or refinance your home until that lien is paid.
1411624
Now may be a great time to refinance your mortgage and enjoy the flexibility of lower monthly payments. Although refinancing may seem like a hassle, depending on your current situation, it could (literally) end up paying off for years to come.
175612
Yes, you can refinance a second mortgage. Assuming you have good credit and your mortgage payments have been consistent, you should be able to refinance your second mortgage without a problem. The process is the same as getting any other mortgage, so just make sure you review all offers and choose the best one for you.
1200097
By refinancing your home equity loan along with your mortgage you can make the refinanced equity loan junior to the refinanced mortgage loan. It may be easier to refinance your home equity loan along with your mortgage when both are with the same lender.
1437069
A: You may qualify for a reverse mortgage even if you still owe money on an existing mortgage. However, the reverse mortgage must be in a first lien position, so any existing indebtedness must be paid off.
825321
As a general rule of thumb, experts say that a refinance will be worthwhile if it will net a homeowner an interest rate between 50 and 75 basis points lower than their current mortgage's rate. That's because the reduced interest will compensate for the closing costs associated with the refinance.
379247
Homeowners can refinance their HELOCs into a new home equity line of credit, one starting over with a new draw period and the lower monthly payments that come with it. Or they can refinance both their HELOC and the balance of their principal mortgage into a single home loan.
612284
['Why Do You Want To Refinance? There are three reasons why people consider refinancing their mortgage: ... ', 'How Long Have You Been in Your Property? And How Long Do You Plan To Stay? ... ', 'Can You Qualify? ... ', 'Do You Have the Cash To Cover Closing Costs? ... ', 'Have You Shopped for the Best Mortgage Rate.']
1448650
There's no limit on the number of times that you can refinance your mortgage loan. However, individual lenders may have standards that limit your practical ability to refinance. Remember, you need to have equity to qualify if you want to take cash out against your loan.
868451
Refinancing your home loan usually doesn't require any money from you. Many refinances include some cash back after the loan closes. Occasionally you'll have to provide cash for the loan to close because of a lack of equity in the home or because you're paying off debt to qualify.