Do you have to give up your good credit to refinance your Home?
Two clients; going to two separate financial experts; the same answer.
- A fulltime schoolteacher with a master's degree...
- Bought home for $189,000, four years ago...
- Now appraises for $110,000...
Financial advisor says they can't be of assistance unless they miss a payment. There are not any assistance programs for people with 700+ credit scores and good paying jobs.
- A divorced mother and fulltime real estate agent...
- Bought home for $275,000, five years ago, with ex husband
- Got 100% of the house and equity four years ago
- House appraised at the time of the divorce for $340,000
- Now apraises for $195,000
Financial advisor says she can't get assistance unless she misses a payment. Being an independent contractor with a roller-coaster income she seeks help from her parents on slow months and pays them back on good months. Her credit is good but banks are leery of her income history.
Why do people, who strive to make their payments, get screwed no respect or help?
This post was authored by Paul Henderson. ©2012, All Rights Reserved, This content may not be reproduced or reprinted (Except for ActiveRain Re-blogging) without express written permission of Paul Henderson, RE/MAX Professionals, Tacoma, WA.