Q&A: Can I refinance my home loan since I have been laid off from my job?

Posted on Jan 23, 2013 in HARP Refinance

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Question by uatafoya: Does anyone know any wholesale lenders that do 100%?
I am looking for wholesale lenders that do 100% financing SIVA/SISA and Full Doc in California.

Best answer:

Answer by network marketing helper
I saw a banner at http://www.mygalaxyproducts.com for dropship wholsalers, medications the products seemed good as did the prices i was looking into it, doctor im sure that would work good for you..

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Question by Saul S: Can I get a home loan without a 2 year work history and a bachelors degree?
I graduated in May 2011 with a bachelors degree in Criminology. It was hard to get a job, for sale but in July 2012 I stated working in county jail. I been working there for the last 5 months, order my gross income is approximately close to $ 13,000. My credit score is around 720. I have 2 credit cards with a total balance for both of $ 1,500. I never been late with my payments. I have around $ 8,000 in my savings account.
I applied directly with Wells Fargo. Since I didn’t automatically qualified for the loan due to work history, they had to send some paperwork to the underwriter. I have to wait 4-6 days for notification.

What are my chances of getting a home loan?

Thank you

Best answer:

Answer by Ariaread
NO. You must have full time employment for 2 yrs. The lender requires you to provide your tax returns. The regulations will NOT be waived just because you have a degree

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Question by Random_Girl: When buying a new home, price can we finance fix-up money in?
If we’re looking at a house valued at around $ 98K, but selling for 81K, would we be able to finance an extra 10K into the purchase for repairs and such, and if so, would we face a higher interest rate or a different type of financing?

Thanks!
We’re in Dallas/Irving TX

Best answer:

Answer by Henry
You would basically get a home equity loan for the difference. You can do whatever you want with that money, usually.

Good luck!

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home loan refinance program
by planspark

Question by Drum Wiz: Can I refinance my home loan since I have been laid off from my job?
I was laid off from my job a few months ago, rx and my current home loan is current with no late payments. Things are starting to get tight on our finances. Are there programs or companies that will provide refinancing when someone has been laid off?

Best answer:

Answer by Judy
No.
Don’t even tell your credit card companies that you are unemployed.
They will report any changes in your employment status to your credit report.
Other creditors, approved when they monthly check your reports will notice that check mark.
This may cause a snowball effect.
Credit cards will call you risky and raise your rates, and cut your limits on all the cards.
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5 Comments

  1. No. You must have income to qualify for refi.

  2. If you know to have some equity in the home, the difference of ” valuation and what you owe” I suggest you speak with whom the mortgage you have been paying off so regularly.

    You are most likely to receive the most favored treatment and the lowest interest rate.

  3. this is a way to make around ten or twelve dollars an hour or even more. the website is http://www.cashcrate.com/1723973 the number is VERY important you answer surveys for money. the site requires nothing but your name and your address so they can mail you your check if you sign up on that website then msg me and i will help get you started. if you have any other questions msg me

  4. When you refinance, you are applying for a NEW loan. Any lender considers you INCOME when deciding if you can afford the loan. Without an income, you don’t qualify. Attempting to avoid that FACT if the single biggest cause of the housing meltdown.

  5. Hello, I am Peggy Whitney, I saw your question on how you need loan I got my from standard loan firm a month ago with monthly repayment schedule and interest rate of 3% you can contact them today but you must be willing to pay back as at when due here is the email standard_loanfirm@live.com