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    lrryhkr's Avatar
    lrryhkr Posts: 2, Reputation: 1
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    #1

    Jan 19, 2009, 12:37 PM
    Refinancing a house
    I have owned our home for 13 yrs. I refianced 2 yrs ago because I needed money. Countrywide bought the note. Home is in Arkansas my wife and I work in Okla. Without us realizing it, we changed our status from occuping the home to it being considered a second home. Our house was broken into years earler, so we moved our son into it, they pay the bills, we pay the mortgage. Everything is still in our name, but we pay taxes in Okla. And have a Okla. Drivers license. How can we get the house re-fied. Countrywide turned us down because of not being qualified as living there and probably other reasons we do not know of. My credit score is 672 my wife 651. We had the house appraised in dec. 08. It appraised for 134K we owe 117K. They don't want to help us refie. Our monthly rate goes up$250/mth in April, then every 6 months thereafter. We don't want to sell, especially now, with the prices down. Is there any lender you can think of who will help us? Thank you
    StaticFX's Avatar
    StaticFX Posts: 943, Reputation: 74
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    #2

    Jan 19, 2009, 02:16 PM

    Talk to a mortgage broker. Not countrywide. (I HATE THEM! Lol)

    A broker might be able to help more... they might find a bank that's more willing.
    bohn's Avatar
    bohn Posts: 2, Reputation: 1
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    #3

    Jan 24, 2009, 12:15 PM

    I work for a broker in SC and we consider 2nd homes the same as a primary residence...
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Jan 24, 2009, 12:20 PM

    The credit scores will be the issue, But you will need to shop around.
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