Refinancing Mortgage Question

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getalifebud

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I am posting for my sister who lives in Florida. In January 2008, her husband died. They have a house that she currently lives in. The mortgage is in her deceased husband's name only but the deed to the house in both her deceased husbands name and her name. When he died and at the time, she was paying the mortgage notes. Currently she has money coming in from his retirement that is covering the mortgage but that's it. She has no other money coming in. She can't work. She has medical problems and applied for Social Security Disability last year. SSI still has not given her word if she is approved or not. She has tried to get her house refinanced but the people say she can't get re financed because she does not have enough money coming in. They tell her to go get a job. Hello, she can't work. Does anybody know of any way possible that she can get her house refinanced? She does not want to lose her house. She only owes 55k on her house. She lives in a area where houses sell for 200K, even with the economy the way it is. The mortgage company will not talk to her because she is not on the mortgage loan. They won't even take a check from her, it has to be a money order or certified check from a bank. My sister is really desperate for help and has no idea where to turn. Any suggestions will be greatly appreciated.
 
She will more then likley have to sale the house-- If she does not qualify she just doesnot qualify there is nothing else she can really do but work or sale it
 
Well, with all the Obama house help out there in the last couple of months, I thought that maybe there was something with that, that could help her.
 
As far as I know the only thing that the Obama started is if you buy a new home you get a tax break -- the government is not doing much of anything for folks to save their homes-- My mom is loosing her home too and she has looked into everything and there is nothing available. If anything the lenders have gotten tighter on there lending policies-- meaning no one ever really seems to qualify anymore
 
Refinancing Mortgage Question...

If the value of your sister's home is actually $200K, and the balance owed is only $55K, then she should qualify for a new mortgage possibly at a different lender. Usually if you have that much equity, it helps to over ride other issues. Otherwise, look into a Reverse Mortgage & pay off the $55K with that.
 
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