FHA refinance question?
Nov 22, 2009
I just refinanced my home with FHA and got 5.5% fixed interest for a term of 15 years. I am going througha divorce and the payments are too steep. I want to extend my term to 30 years. Can I do that without refinancing? Thanks.
Trevor
November 22nd, 2009 at 5:02 pm #
Nope, unless you can negotiate some kind of a deal with your lender but I don’t even know if that is possible. you should have done it the other way around…done a 30 year and while you could afford it pay as much extra on it as you could. Then when times were tight you could pay less.