Refinancing Master

Ok so i got a new car in July with my mom as co-signer. I have good credit since i have been making my payments. I also just got a small loan through a credit union to help increase my credit score. I wanted to know when i can and should refinance my car to lower the rate. Started making payments in September of 08′ is it too early?

Also, would it be okay to go to the same bank with the checking account (Bank of America) and ask for a cash loan. I need about $200, but I don’t have much credit or a job at this point and the bank is going to close my account and report me to an account verification system in slightly less than a week if I don’t fully repay them, which would seriously damage my financial future. I am looking to use excess student loan money to repay the cash loan. Any ideas would greatly be appreciated!!!

My wife and I owe over $150,000 in student debt with interest rates around 9-11% on each loan. Is it better to just refinance our house and pay it all off, for a lower monthly payment and interest rate?

I live in a house with a deed in my brother’s name. He moved out 2 yrs ago and bought another house. My mother and I have been making the payments for the loan since he left. We wanted to see what is the least expensive way of changing the deed from my brother’s name to mine or my mother’s or both.

I would like to get a lower interest rate right now i have a 7.9%
I took out the loan for 6 years. and made 20 payments.

With the interest rates dropping I think I could really save some money every month on my mortgage if I refinance, but are banks hesitant to lend right now with the financial crisis? What are your thoughts? Thank you!

I have credit issues, bankruptcy discharged in 2006 and late payments after that, and I am looking to refinance my truck loan. I guess I am still considered a risk even though my credit scores have improved drastically. Any suggestions where to look?

I want to refi my house that we bought at $184,000 at 7.875%
it was fixed for 2 years and now will go up to 10.875%

Now, I have a $15,000 second mortgage that I accumulated from not having a job and misc expenses.
I want to combine them together.
I also want to add my $28,000 federal student loan at 6%
and my other private school loan of $12,000 at 13.25%
to the refi. I also have a credit card of $4,000 @ 8.99% fixed that I wouldn’t mind adding to the refi as well.

First of all, Is this possible if my home is only appraised at $209,000 right now? And second, should I add these all together?

I would love to have one bill. All these payments are killing me.
Need your advice…
And if I should refi them all together, what companies have you been successful with for loans?

Hi experts!

I’m in the process of paying off my credit card debt in hopes of raising my FICO score before refinancing my student loans. I really want to get the loans refinanced ASAP as my monthly payments are currently absurd.

My problem is that even though I can afford to pay my credit card debt off now, I know the FICO score won’t update for 2-4 weeks. I’ve read on some other posts in this forum that one can make some calls to rush the credit report updating process, however I wasn’t quite understanding who I should call and exactly what I should say. Do I call my credit card issuer or is there a bureau I should be contacting? Does anyone know of any other options besides calling that may be better?

I really really appreciate your time and help…it will end up saving me lots of money! All advice is welcome and highly appreciated.

RefinancingMaster Answer:

Simple credit-score issues can be handled in as few as 30 days by writing a dispute letter to the credit bureau. The bureau will notify the creditor to address the issue. If the creditor fails to reply within 30 days, the item will be removed from your report resulting in a higher score.

You can read all information here : The Federal Trade Commission

Hello

I’m completing my first year car payment (of 5 yrs car loan) in Dec2006. The interest rate is high and i would like to refinance.
I have a secured credit card ($500) with payments on time and Regular Credit Card ($3000) of which i have $2500 used but no payments delayed.

Anyone, please advice me
1.How much my credit score approx. would be?
2.Can i refinance my car in Jan2007?
3.If i pull my credit info, is it accounted as a Hit?
4.If i ask my lender (any bank, credit card companies) to pull the info, is it a hit?

Please advice. Thanks in advance!
Appreciate it
Casinoroyale

I am a loan officer for a mortgage company refinancing one of my clients. He is stating his income as he is self-employed. One of the conditions required by the lender is a 4506-T tax form. I forwarded it to my client, but he is hesitant to submit this form in fears of being audited by the IRS? What is the likelyhood of this actually happening and what would need to happen for the IRS to take such drastic measures? Otherwise I’m not sure why this is a requirement from the lender…
Of course I haven’t been a loan officer for very long…if I had been in the industry for many years, I doubt I would be coming to Yahoo Answers to obtain smarmy replies from know-it-alls. But hey, you were all in the same boat at one point in your careers, right?

My then fiance and I co-signed for a car a few months ago. Now that we are married and she has taken my last name, she wants to change her name on the loan. The bank told her today she may have to refinance (at a prevailing higher rate) to get her name changed. This seems illegal. We are waiting to hear back on Monday from someone else, but does anyone have any insight or suggestions assuming they take the same stance on Monday? We live and bought the car in Georgia. Thanks!

First off, my student loan is at 3.65 fixed for an amount of appros 12,000. My refinance rate for my mortgage is about 4.9% x 30yrs fixed. Would it be wise to take out an additional $12,000 at that rate to pay off a student loan that is at a lower fixed rate?

My husband co-signed a loan for his older brother. His brother defaulted on the loan 4 years ago and sill refuses to make payments, he’s an officer in the Navy and makes at least twice what my husband and I do. We have 3 children and cannot afford to make the payments for him. Do we have any legal pptions to force him to make payments or get ourselves off the loan, he won’t refinance. He’s also defaulted on numerous other things like student loans and such.