Many people think you can stop foreclosure by refinancing your home. Although this is a possibility, it is not easy to get a bank to agree to refinance your mortgage once you are behind on the payments. However, if you have not yet fallen behind, refinancing could be an option for you.
Lower Your Payment by Refinancing
If you know that your income will be falling, you can start looking for a refinance loan that will give you a lower monthly payment than your current mortgage. By obtaining a new mortgage with a lower interest rate or a longer term,… Read more »