Legal Question in Real Estate Law in Illinois

I refinanced my condo in 2011 at 5% for 15 years. The rate is down to 2.75% but I have been told over and over again that since it was done last year that I cannot do it again. Is there any way that I can refinance again?


Asked on 12/18/12, 8:17 pm

1 Answer from Attorneys
Henry Repay Law Offices of Henry Repay

You may be better off speaking with a different, well-recommended loan officer. There should not be anything that keeps you from refinancing unless there is a prepayment penalty on your current loan that would impact the decision or something would create issues in qualifying, such as property value or your credit.

Are you sure you mean "refinance"? Did you do a loan modification? Alternatively, will the current lender consider a loan modification?

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Answered on 12/19/12, 6:15 am


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