Hail Mary Pass

[unomundo]

California home"owner"
95% LTV
711 credit score
High Debt:Income ratio
Mortgage amount > FHA limits
Re-fi app denied by Bank of America and Wells Fargo

Are there any other lenders out there that I'm not aware of who might give me a shot?

[Moe Bedard]

Why is this the hail Mary..............did your loan mod not go through?

[unomundo]

I call a few times a week on the mod and they keep saying: "it's in negotiation but has not been assigned a negotiator yet...". I wrote this new post because I saw a post from Moe in which there seems to be a mass modification idea that the gov't is warming up to. It will simply freeze rates but not lower them if I read correctly. I just took a permanent position and left my contract position. It's more stability but I took a paycut. If FF freezes my rates (7.7%/10.5%) and my wife can't find work (stay at home mom for 11 years now!), we only have a few months left that we can cover. I want to be sure I've exhausted all re-fi ideas because I really need a better rate. Do you know of any lenders that would make any exceptions (i.e. 95% LTV instead of 90%)?

[Moe Bedard]

If you have no other liens on the property............you may want to look at the approved lender list for the H4H program..............
go to www.fha.gov and then go to the approved lenders list for the Hope for Homeowners program, and see if there is one in your area that you can try...........