U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-24-2013, 12:36 PM
 
Location: MD's Eastern Shore
2,272 posts, read 2,770,562 times
Reputation: 3975

Advertisements

Just did some quick checking and a USDA loan does not allow recasting. Looks like the only way for me to lower my payments is to refinance but the more I think about it the harder it will be because of the way that I am paid. It was a real pain when I got the initial loan. Not because of income but because of receiving both 1099's and a W2 from the same employer. That and having others send me 1099's. I had to show that it was the same type of jobs and I had been in this line of work for many years. So my interest rate was a slightly higher 5%. Which makes me see now that refinancing probably won't do squat as I will be in the same situation. Just willing to put a decent chunk down but only have them take 4 grand or so from that from fees.
Reply With Quote Quick reply to this message

Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top