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MSN Real Estate: Turned down for a refinance - now what?

By Michele Lerner. Unfortunately, a history of paying your mortgage on time isn't enough to qualify you for a refinance.

November 16, 2012

Stan Ross, chairman of the board of the University of Southern California Lusk Center for Real Estate in Los Angeles, says that homeowners who are denied a refinance are more likely to default on their loan or walk away, particularly if they have little or no home equity. If you're struggling to pay your mortgage, Ross says you need to reach out to your lender or servicer right away to find the right strategy to keep you in your home.

For the full article, see the link below:

Link: MSN Real Estate