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BB&T Mortgage Refinance

BB&T Mortgage Refinance can help you move one step further towards your financial goals if you have enough equity in your home. The general equity requirement for a refinance loan is minimum 20 percent. Your income, assets and credit situations are also taken into consideration during the prequalification procedure. It is also required that you have a valid reason of considering this option, as refinancing can make things better as well as worse.

BB&T Mortgage Refinance Rates

Refinancing is like replacing an old mortgage with a new one with better rates and terms. The option is usually considered when the market offers a mortgage rate that is at least 5 percent lower than what you are currently paying. This way you could lower down the total interest over the entire term of the loan. It is also to be noted that a refinance loan has a closing cost too, which you can roll into your mortgage. As a result, the longer you plan to stay in your home, the more time you will have to meet the expenses.

To know how refinancing can help you achieve your financial goals sooner and to get information on the current BB&T Mortgage Refinance Rates, you can talk to a BB&T mortgage professional. There are online resources like refinance calculator and others that can help you analyze your present status and determine whether or not you can qualify for the loan. Using this loan option, you can reduce your monthly payment, switch over to a fixed-rate mortgage, seek debt consolidation and even obtain cash to meet your various other expenses.

BB&T Mortgage Modification

Under Making Home Affordable program of the Obama government, BB&T helps troubled borrowers with a refinance option provided they meet certain criteria. For example, only those with either Fannie Mae or Freddie Mac loan are qualified to get benefits under the program. Moreover, they must have been making payments not later than a month of their scheduled date for the past one year. Also the current home value needs to be more than the borrowed amount on the first mortgage. If in case you do not qualify for Home Affordable Refinance Program (HARP), you may be eligible for Home Affordable Modification Program (HAMP), which is applicable on all BB&T mortgages with loan amount not exceeding $729,750.

BB&T Foreclosures

Finally, if nothing helps you retain homeownership, you can consider a short sale option as the last recourse to avoid the ignominy of home foreclosures. BB&T short sale package is just meant to assist you in clearing your all outstanding dues while causing the least damage to your credit worthiness. Call (800) 827-3722 to contact BB&T Short Sale Department, which is also known as the Loss Mitigation Department, and get complete information about the package.

BB&T Foreclosures, on the other hand, are a boon to those who want to buy homes at a cheaper rate. The foreclosed properties owned by the company are not sold directly, but only through a network of brokers or real estate agents. However, you can search online and get the list of BB&T bank owned properties for sale from its website itself. The contact numbers of the realtors dealing the properties are given against each entry.

For more on BB&T mortgage refinance, rates, calculator, modification programs, short sale process and foreclosure homes, visit its official website.


BB&T Mortgage