What is a Refinance Mortgage Foreclosure?
Depending on your income, credit report, value of your home and the amount of your equity, we can negotiate with a new lender to refinance your existing mortgage. Although this might be difficult to secure new financing with a default on your existing mortgage, if you have enough equity in your home, this option might be attractive to a new lender. We have several lenders who we deal with regularly that are willing to give people a second chance. Although this option may likely create a loan with higher interest rates, a sizable upfront fee and a longer time for pay-off, it may be the best option for you. With your home refinanced, you will become immediately current, the foreclosure will cease and you will be able to enjoy your home.
