Real estate blog entries tagged with mod by Kimberly Malone (Signature Property Consultants)

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Home : Blogs : Kimberly Malone : Kimberly Malone's Blog : Tag "mod"

mod: The "Short Refinance" - A Real Live Example - 11/30/08 09:25 PM

Picture this scenario - client purchased a home nearly two years ago with 100% financing and a 2/28 adjustable rate mortgage, expecting to refinance into a fixed rate before the first adjustment period. Fast forward a year and some change, and the market TANKS, so now he's upside down by $70K and the refinance he had planned to do is completely out of the question. Yet, he is living on a bit of a tight rope, and when his rate adjusts, there is no way he's going to be able to afford the additional $300/month that will be required.
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Kimberly Malone

Baldwin, NY

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Signature Property Consultants

Address: 575 Hempstead Turnpike, Suite 200, West Hempstead, NY, 11530

Office Phone: (516) 747-3948 x 1007

Cell Phone: (917) 554-0925

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