Re: Refinancing to somewhere else before end of foreclosure
Ah... Luckily real estate and mortgages happen to be my forte so this seems like the perfect way to introduce myself to Aspkin.
The answer to your question is somewhat complicated and frankly, the current situation is somewhat unprecedented so nothing is guaranteed and things can change overnight.
The core question is if you are not in the position to repay your current mortgage how do you intend to go through underwriting on a refinance? If you lack the cash reserves to make mortgage payments right now, it's unlikely that you will qualify for a refinance.
Now... Assuming you were to qualify for the refinance in the first place, then the answer is *maybe*. It really depends on your luck, what Mr. Cooper shares on their payoff quote, and if the underwriter asks/notices that the loan is not current/is forbeared when they review the file.
Technically, however you can refinance at any point. Hard money lenders (loanshark) will HAPPILY lend you the money if you have equity in your home.. Hell, they'll refinance you even if you are within hours of a foreclosure sale date. But it doesn't make financial sense to go hard money unless you are in a truly, truly desperate situation (you're going to pay ~10% interest and 5-8% in 'points' if you go hard money).
Who is the owner of your loan? Is it Fannie/Freddie, FHA, or is it part of a mortgage-backed security? Realistically, if you foresee this being a long-term hardship then either consider selling or start gathering the docs for a loan mod.
Hope this helps and if you have other questions, don't hesitate to ask here or PM me.
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