Search SEARCH

to lower my interest rate do I have to refinance?

I bought my first home in September 2008 and got a 7% interest rate. I have never been delinquent on a payment or missed a payment and I'd like to have my rate lowered. Do I just call my mortgage company and ask for their policy or will I need to go through the whole refinance process? My house is worth less now than when I bought it so I'm worried I wont qualify for refinancing, however my payments are manageable, and I have a steady job. Any advice?

Asked By: love-a-bull - 7/6/2009
Best Answer - Chosen by Asker
Call your mortgage company and ask them if they have any kind of "streamline" program that can lower your interest without actually all the expense of refinancing... More
Answered By: glenn - 7/6/2009
Additional Answers (3)
You most likely will need to refinance.
Answered By: Alterfemego - 7/6/2009
 
Generally, yes. If by any chance you have an FHA loan, look into the FHA "Streamline" refi option.
Answered By: jlf - 7/6/2009
 
Yes, you go through the whole mortgage process again. AND re-pay all the closing fee's. Your home being worth less is a problem, and because you are making all your payments on time, you don't qualify for any government help ( your home is not in jeopardy )....people had to be irresponsible to get the governments... More
Answered By: jonny j - 7/6/2009
 
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Jobs.Quick-com
Click. Search. Apply. Free!
www.JobDiagnosis.com
Jobs hiring near your local area. Part-time, Full-time, Work at home.
www.HiringLocally.com
Get Your Degree Online Sooner than You Think. Financial Aid Options
Degree-Accredited.com/Degree

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-309
eTrustLogo