refinancing

Hi Terry, just heard you on WGN! I have a 30-Fixed FHA mortgage, 5.5%. My home is probably worth the same or a little less than what I owe on it – not 100% sure about that. Would I be able to refinance, and roll all fees into the loan?

Terry Says:  OK, you have two choices on this.  You may qualify for an FHA “streamline refinancing” — IF you purchased your home and took out that FHA mortgage before 2009.  The fees have been reduced substantially, making this process very affordable.   Here is a link to an article on Bankrate.com describing the process:  http://www.bankrate.com/finance/refinance/fha-streamline-refinance-cheaper.aspx    (Just cut and paste this into your browser.)

Or you might be able to refi into an even lower-rate conventional mortgage.  Contact my mortgage specialist, Leslie Struthers at GuaranteedRate.com.  Her email is:  Leslie@GuaranteedRate.com.  At the very least, she will be able to find out the amount you owe, and give you a better idea of your options, and how to proceed.  Use my name in your email to her.