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Where Can I Go For a Fixed Rate Mortgage? – Stephanie

“Dear Steve,

I am backwards on my mortgage and it’s a five year arm will re-set in June with a HELOC. I need to refinance! I am paying interest only on my Sallie Mae loan this year and putting all my money into paying-off the HELOC. My credit score is 740 and all of my credit cards are paid off along with another small student loan.

I have been to Wells Fargo multiple times to refinance my primary loan to a fixed and they keep brushing me off. Is there anyone out there who is legit who will refinance my mortgage to a fixed rate. I want to do it before interest rates start going up.

Thanks,

Stephanie”

Dear Stephanie,

I’m not certain what you mean by “backwards” on your mortgage. I assume you are saying you owe more than it is worth. If that is the case, even with having good credit, refinancing will be a problem. How much do you owe on the mortgage and how much is your home worth?

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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