Refinaning a house that is in foreclosure?
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No underwriter in their right mind will ever give you a loan to you to pay off a loan which you are not paying. It's like going into someone's office and telling them, "Hey, I got a problem, I haven't paid Bank X in the last 6 months, can you give me a loan at a higher interest rate and I promise I'll pay you." Just try to sell your house before it goes into the forclosure process.
Nobody is gonna refinance a house that is in foreclose and keep the deed in your name. They may rent to you. Here is an investor website for you www.denjrealtormel.com
That's not really true, but you are going to have to find a specialty mortgage company or subprime lender with experience in the area. In addition, you will probably have to show the original lender what is happening, if they will refinance, because many mortgage companies will want the foreclosure dismissed prior to lending. This is workeable, however. Don't know where/which State you live but contact American Equity Mortgage, Ameriquest, or Full Spectrum/Countrywide Mortgage. These guys do subprime lending as to others.
From what you have said, it is unlikely you can do a deal like that. Try learning more about refinancing at a neutral site like http://www.refinance-and-loans.com/... and maybe you will find something in a bad credit refinancing topic area there.
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