Hee Hee Hee!!! Go get'em Mike.

Try US Bank. They offered me a 3.95% with no points on a refi.

We also tried to refinance to get a fixed rate. The bank said it would re-finance. At 11%, but we would have to pay half of the equity in the home first. Yea right, Wells Fargo. Like I have that kind of money just laying around.

BEWARE, doesn't anyone else find it interesting that just about anyone with a job can get re-fiancing through FHA or Freddie Mac? Our home is a conventional loan at 7%, so far still have same job for past several years, never missed a payment, etc. guess what, mortgage companies like Bank of America etc. is almost impossible to get a re-finance, or they sock it to you with charges etc., where it isn't worth it. Sure you can get a re-fiance with FHA etc., WHAT BETTER WAY FOR THE GOVERNMENT TO GAIN MORE CONTROL OVER THE AMERICAN PEOPLE, and FHA etc. are auto. putting in a PMI that you have to pay for at least 10yrs, I guess another way to make monies off of the people that pay their mortgage for the ones that didn't or couldn't. We told them NO to a re-finance with them, for sure as long as Obummer is in the White House I sure wouldn't go with a government loan, BEWARE OF THIS SCAM FOR MORE GOVERNMENT CONTROL OVER YOUR HOME, that is why it is so easy to get a loan with them or a re-finance, CONTROL, CONTROL, CONTROL.

ask your current bank if they have a mortgage modification program. Im in the same situation and my bank lowered my rate from 6.25% to 5% with very little paperwork.

No disrespect intended...a lot of people perceive that you need "big bucks" or good credit...and that's just not true. FHA only requires a 3.5% down payment and a 620 credit score...a 620 score does not require "good credit." VA requires no money down and a 620 score. And lenders are happy to make these loans because both FHA and VA loans have always been backed by the federal government. So, it's not a matter, at all, of banks not wanting to make loans. They are ready, willing and able to lend at very attractive rates. The problems stem much deeper than simply banks not wanting to lend.

I agree. Doesn't anyone understand that the banks DO NOT WANT TO BE OBLIGATED TO A 30 YEAR LOAN AT 4-5% INTEREST. THEY CAN MAKE A MUCH BETTER RETURN ON THEIR MONEY BY JUST THEIR CREDIT CARD INTEREST. I feel some of the loans that are refused because of some minute thing should be scrutinized. This economy would get back on its feet if the real estate market would improve but it never will unless buyers can get mortgages.

I have a different problem per banks. I no longer owe ENOUGH to refinance as I have paid my house down to under 50,000...

I had an appraisal done too. 15K value for a one year old 70K outbuilding. You would think with a refinance at 2% less that would be more $s to the economy, less tax deductions, and fewer forclosures. If I would have known this I would have bought a tent for hay storage (There goes more jobs). Best of luck with these looser banks. Bad credit is OK, good is an uphill battle.

For Susan. Just take out an equity loan for it's value at a lower rate.

The national debt doesn't ever go down. That's the reality.