Assumption, Assuming a Mortgage
Published on: 27/08/2024
This type of mortgage scenario might just be a nice fit for someone who is looking to save money on closing costs and assume a low interest rate.
Mortgage Blogs
This type of mortgage scenario might just be a nice fit for someone who is looking to save money on closing costs and assume a low interest rate.
A cash out refinance is refinancing your existing mortgage and borrowing some of your equity in a lump sum to use for other purposes. Such as home improvement, college tuition, family vacation, etc.
The mortgage industry is a very competitive one and there are literally hundreds of lenders or wholesale lenders across the country that would seriously consider doing business with you even though you have bad credit.
When I worked as a loan officer, it wasn’t unusual for me to come across people who thought they were out of luck because they had bad credit.