How Do You Refinance A Mortgage To Stop Foreclosure In Maryland?
Maryland property owners received more than 5,200 foreclosure filings in January 2010 alone, according to real estate information site RealtyTrac.com. If you are struggling to pay your monthly mortgage payment, there is a step you can take to avoid receiving your own foreclosure notice. You can apply to refinance your mortgage loan to take advantage of lower interest rates. This will leave you with a smaller mortgage loan payment. You’ll need a solid credit score and enough equity in your home, though, to qualify for a refinance. Find a nonprofit housing counselor near you. The Maryland Hope Initiative (See References) provides a list of approved nonprofit housing counselors. These counselors can work with you to help you organize your financial paperwork to prepare for a refinance. They may also be able to help you create a new budget so that you won’t fall behind in any new mortgage payment that you might be able to secure. Call several mortgage lenders and banks, nationally and loca
