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Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » What is the advantage to restructuring a mortgage as opposed to refinancing?

What is the advantage to restructuring a mortgage as opposed to refinancing?


  1. Can a person refinance a home equity loan, as opposed to a refinancing a mortgage? ? A couple of years ago, my spouse and I doubled the size of our home which we had owned “free...

  2. How can I take advantage of the HARP program if my mortgage is not owned by FANNIE MAE? My house is underwater. I can afford my payment, but it sure would help if I could refinance to a...

  3. Can a buyer prevent a FSBO from refinancing a mortgage on the property that he has under a land cont? Looking to purchase a property from a FSBO under a land contract that has an existing 3% equity line of...

  4. I am refinancing my mortgage, can I start to sell the house now? I am refinancing a ballon to a fixed rate mortgage and in the agreement it says that I have to...

  5. can i refinance a 10 year home equity line of credit without refinancing my existing mortgage? running downhill on my mortgage and don’t want to start over ...

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2 Responses to "What is the advantage to restructuring a mortgage as opposed to refinancing?"

  1. sassy2 says:
    Restructuring should come at no cost to you. Not another credit check, which is good if your circumstances have changed.
    Refinancing should guarantee you a better rate.
  2. George L says:
    In many cases, an attorney will contact your lender and get them to delay the foreclosure process without filing bankruptcy. Such a scenario allows an attorney the opportunity to negotiate a “win win” resolution for both sides. Foreclosure is generally a very costly option for lenders. In certain instances, a modification of the existing loan is a good solution. Depending on circumstances, a deed in lieu, also known as “cash for keys” or “walk away” may be the right solution to keep a foreclosure off your credit report. There are many possible solutions to resolve a situation where a homeowner is either behind on payments or likely to fall behind in the near future. Such possible solutions include a modification or restructuring of the terms of your current loan to lower your mortgage payments, a recapitalization and principal balance reduction, a rescission of your current loan (up to three years) or a lawsuit against the mortgage company for predatory lending violations if determined to be appropriate after a proper loan document audit.

    There are many other possible resolutions as well. An attorney will assist you to determine which possible option is best for you.

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