- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Home refinance question
Posted on 12/15/11 at 2:35 pm
Posted on 12/15/11 at 2:35 pm
We purchased a home about a year ago, but as I am technically listed as a private contractor, none of my salary was counted in determining if we qualified for a loan. Long story short we did barely qualify based on my wifes employment. Now her employment has changed a bit and I am not sure I we would still qualify (although we can still easily make the payments, but again as an independent contractor, the mortgage company won't believe us). My question is, if I were to apply for a refinance with my current lender, if we did not qualify, would that jeopardize our current home loan? In other words, would they say, not only can you not refinance, but we are taking away your other mortgage as well.
Posted on 12/15/11 at 2:38 pm to jammintiger
they will not do anything to your current mortgage as long as you keep up the payments. You would need to have tax returns for 2 years to prove your income.
Posted on 12/15/11 at 2:41 pm to blacykaty
AHH well in January I will have two years worth of tax returns, even though I will not have been working at my current job for two years at that point. But that will probably be enough to put me over the top. Thanks for the reply.
Popular
Back to top
Follow TigerDroppings for LSU Football News