Refinance (by Sandy [NC]) Jul 1, 2009 6:21 PM
Refinance (by tyler [NC]) Jul 1, 2009 7:11 PM
Refinance (by gevans [SC]) Jul 2, 2009 4:32 AM
Refinance (by tyler [NC]) Jul 2, 2009 4:53 AM
Refinance (by Dale [CA]) Jul 3, 2009 4:28 AM
Refinance (by Dean [NC]) Jul 3, 2009 8:42 PM
Refinance (by Sandy [NC]) Posted on: Jul 1, 2009 6:21 PM Message:
State Specific Question About: NORTH CAROLINA (NC)
I would like to refinance an investment property that has a 7.75% interest rate, but the banks that I have contacted tell me that they cannot do refis if you have more that 4 mortgages. I have even tried my credit union. Do any of you know of a bank that will refinance me. I have 6 mortgages.
--71.71.x.xxx |
Refinance (by tyler [NC]) Posted on: Jul 1, 2009 7:11 PM Message:
as of late..., i've seen 'american community bank' and bb&t do refi's on a commercial loan. --75.181.xxx.xxx |
Refinance (by gevans [SC]) Posted on: Jul 2, 2009 4:32 AM Message:
I thought they dropped the 4 mortgage thing and went back to 10?
Don't know from personal experience, I only have 2. --141.129.x.xx |
Refinance (by tyler [NC]) Posted on: Jul 2, 2009 4:53 AM Message:
gevans..., fannie mae increased the amount of unconventional loans they'd insure from 4 to 10 in March 09'; unfortunately, the banks have not changed thier policies to that at this point. i think its based on thier precieved credit risks with landlords and multiple properties (what types of hits are they taking now) and 'real' availability of funds to lend when factoring in reserve requirments to maintain core capital ratio requirements and offsets of nonperforming debt. --70.60.xxx.xxx |
Refinance (by Dale [CA]) Posted on: Jul 3, 2009 4:28 AM Message:
Sandy: I have encountered same problems. I have been told same thing Tyler stated earlier in that banks have not updated their policies. I have tried to refi into a 50% LTV and can't find any takers. Seems crazy.
Anybody else able to refi with more than 4 mortgages? --66.82.xxx.xx |
Refinance (by Dean [NC]) Posted on: Jul 3, 2009 8:42 PM Message:
BB&T Commercial loans or small local banks commercial loan dept. --69.132.xxx.xxx |
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