This iReport is part of an assignment:
Questions for Candy Crowley
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- Posted October 16, 2012 by
- NeedhelpinKS Follow
Location
lenexa, Kansas
lenexa, Kansas
Assignment
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unable to refinance home
My wife and I have been fortunate and conservative with our financial planning. This includes when we purchased our home. With the down turn of the economy, we have successfully maintained an excellent credit score (well over 700), and have stayed current on all our bills and mortgage.
With recent lower mortgage rates, we would LOVE to refinance to save money. As the various lenders say we do qualify for today's lower rates, closing expenses are unrealistic. Many of these are well over $5000.
As my wife is newly unemployed due to the continued down turn, we are unable to take advantage of today's rates, and just do not have the cash lying around to pay the high closing fees and expenses.
Why hasn't there been anything done to help those out who HAVE done the right things (planning, saved, purchased wisely) verses all the government support of those who over extended themselves? The government's approach to help ALL homeowners is flawed at best, and appears to be feable attempt to help us.
With recent lower mortgage rates, we would LOVE to refinance to save money. As the various lenders say we do qualify for today's lower rates, closing expenses are unrealistic. Many of these are well over $5000.
As my wife is newly unemployed due to the continued down turn, we are unable to take advantage of today's rates, and just do not have the cash lying around to pay the high closing fees and expenses.
Why hasn't there been anything done to help those out who HAVE done the right things (planning, saved, purchased wisely) verses all the government support of those who over extended themselves? The government's approach to help ALL homeowners is flawed at best, and appears to be feable attempt to help us.
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