Finally applied for refi

rubyruby27 · 02-25-2008, 11:30 AM

I applied for a refi finally, I think its approved with conditions that the lenders interest is protected from any liabilities.

The mortgage broker said he had never seen them come back with this statement before, usually its, this must be removed or it must be paid.

Wish me luck, he is calling the lender today to verify this statement.

Hedwig · 02-25-2008, 12:04 PM

Good luck. I hope it works out.

rubyruby27 · 02-25-2008, 01:37 PM

Thanks, he just called and its approved if I pay the JDB's which I won't, or if I do I will sue them to recoup my money plus a little more.

VexatiousLitigant · 02-25-2008, 01:46 PM

Darn I thought you had taken care of the JDBs by now.

Hedwig · 02-25-2008, 06:12 PM

You need to look at the overall picture here. Is your interest rate going to be lower? By how much? How much will you save per month on the payments?

If you can recoup the amount you'd have to pay the JDBs in less than six months, it makes sense to just pay them. Lawsuits can be expensive. You have to look at what your time is worth, and maybe just decide to pay them and walk away and get on with your life.

Loan Doctor · 02-26-2008, 09:57 AM

If there are any things on title, like judgments, they will indeed have to be paid.

If there are things on your credit report that are <5000 total and are over 2 years old, then have your LO check out different loan programs. There are some that will ignore collection accounts.

Charles