Are there any lending institutions that will refinance if your house is in foreclosure?
Question:
Answer:
Yes, there are. But none of them will be able to close a loan by 6/21/07, and if any of them tell you that they can, they're lying.
Even if you qualify for a foreclosure loan, you'll have to do something about that foreclosure date -- either get it postponed or canceled for a little while. That will buy you some time to proceed with the foreclosure refinance.
You'll also need to have plenty of equity in your home and be able to make a payment at a rate of 10%-15%, most likely. So if you are having difficulties in paying your mortgage now, it will not be any easier if your payment goes up significantly because of a higher interest rate.
But search around for mortgage brokers and lenders that specialize in foreclosure loans and see what you can do about getting the foreclosure date postponed. Also, look at some other options to stop foreclosure, as well, rather than just a foreclosure bailout loan.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/...
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