VA Home Loan Advice, Please, VA IRRRL or ?
VA Home Loan Advice, Please, VA IRRRL or?
I have a VA home loan with a current balance of $130.889.57
with an interest rate of 6% I last refinanced in Feb of 03 and my current
payoff is in March of 2033.
I also have a equity line with a balance of $55,190.91 this
is broken up into 2 rates. $26,552.17 was locked at 6.99% in June of 2006 the
balance of $28,446.83 is currently at the variable rate of 2.99%
I was a Regional Manager & Business Coach for over 7
years with a great income however I lost my job in late April of 2012, this was
due to some complications to a auto accident I had about a year ago. I am
currently on Unemployment but that will run out in mid Oct. My wife has a good
job and has been there for about 10 years.
I got out of the military in 1984 as a Disabled Vet with a
10% service connected disability. At the moment I'm current on all of my bills
with the exception of 4 or 5 items that show up on my credit but they are all
medical in nature and they should have been paid by my auto insurance its well
within the limits but that hasn't happened as of yet. But these bills are not a
big number but they should not be there.
So my question is
this, my Mortgage as well as all other debit is only in my name with the
exception of 2 credit cards my wife is listed as an authorized user so they
show up on her credit report but she has never once charged anything on them.
In addition my wife has never had a home loan in her name.
I personally have an
auto loan and credit cards that is a fairly large number. BUT as I said at the
moment I show no lates etc. with the exception of those few bills from the
accident. I still have issues from the auto accident that aren't great!
So what are my
options? I need to reduce my bills as best as possible, and reducing my
mortgage rate would be huge,
Thanks for any advice in advance, I have been searching
everywhere and there is lots of programs for FHA loans but as a Vet / DV I have
had no luck finding help could anyone here provide help / advice I would be
very appreciative. Thanks in advance!