Quote:
Originally Posted by Ridgefarmer63
Get a load of this....We have always thought it would be nice to own Winni front. Or perhaps even just rent for a period of time so we are trying to free up funds. We have a mortgage rate in the mid 5's on our farm, so I thought it would be a good idea to re-fi. NOT SO FAST. Since we have too much excess land, we do not fit into the mortgage lenders "box". Our ratios are great, plenty of equity left, beautiful home on a professionally managed forest (Forest Management Plan done). I have tried two or three lenders and when they hear 115 plus acres they so no. We have to pay a rate that's 2-3 % higher.
A lot of smart people on this forum, any constructive suggestions would be appreciated.
Help, before my %$#@in' head explodes.
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Dont pay your mortgage for 6 months and then you will qualify for a mortgage modifacation If you pay on time and have great credit you are sh%# out of luck I had the same problem (with out the farm)took me over a year and I am @ 4 % now
