Troopers
TUG Member
Anyone know why banks will not refinance it's own loans?
I'm not underwater but my loan to value ratio is somewhere near 90%. I would like to refinance and capitalize on the low 30 yr fix rates but my my bank will not refinance it's own loan. I don't understand why my bank won't refinance. The bank wouldn't incur additional risk since they already on own the note. In fact, the bank would earn some $ in refinancing costs.
I'm not underwater but my loan to value ratio is somewhere near 90%. I would like to refinance and capitalize on the low 30 yr fix rates but my my bank will not refinance it's own loan. I don't understand why my bank won't refinance. The bank wouldn't incur additional risk since they already on own the note. In fact, the bank would earn some $ in refinancing costs.